Uruguay exported 839.5 million dollars to China during the first half of 2023 but the trade balance with the important Uruguayan partner in terms of business deteriorated, according to the biannual bulletin of the Institute of International Business of the Catholic University of Uruguay (UCU).
That trade relations between Uruguay and China were not what they had been this year hardly surprises anyone: just look the drop in exports that has been going down for several months, mainly due to the country’s lower exports to the Asian giant. In this context —and despite it—, the total exported to Chinese territory during the first half of 2023 was 839.5 million dollars.
According to the semi-annual bulletin related to the Commercial Relations of Uruguay and Chinapublished by the UCU, the deterioration of the trade balance meant a deficit of 277.5 million dollars, if free zones are not contemplated. Also, exports they fell 46.2% compared to the first six months of 2022while imports from China grew by 11.1% compared to the same period.
What were the most traded products?
The meat, As usual —even with the decline seen this year—, it represented 68.7% of exports to China during the first half of the year, reaching an amount of 613.4 million dollars. This meant a drop of 39.9% compared to the same period last year.
The second place of exported products is occupied by oilseeds and oleaginous fruitswith a participation of 14.4% and a drop of 67.1% with respect to the first semester of 2022. The amount placed totaled 128.5 million dollars.
Continued on the list are wood —mainly sawn timber—, with placements for 44.9 million dollars.
As for the imports of Uruguay from China, they totaled the 1,171 million dollars, 11.1% more than in the first half of last year; which also contributed to the balance of trade between the two countries remaining in disadvantage for the country in 277.5 million dollars.
Likewise, 19.1% of the goods purchased from China materialized in electrical machinery, apparatus and material, for a total of 224.1 million dollars. 54% of these imports in particular correspond to phones, followed by televisions.
In addition, there were 1,567 companies that purchased products of this nature for values greater than $1,000 in the first half of 2023. before and Telefonica Moviles del Uruguay SA were the main ones, for values of 62.3 million and 10.8 million dollars, respectively, according to the report of the Institute of International Business of the UCU.
On the other hand, there were 4,991 Uruguayan companies that registered imports from China for at least 1,000 dollars between January and July 2023. Among them, only 11 made acquisitions of more than 10 million dollars.
Source: Ambito
