Loans will fall by around 20%, placing the country only above Argentina and Venezuela.
Uruguayan exports are one of the most affected in the entire region, with drops in both price and volume, according to the report from International Trade Outlook for Latin America and the Caribbean carried out periodically by ECLAC.
The organization predicts that the country’s placements will fall by 20% compared to 2022, which was a record year, so that this decrease is only surpassed in the region by those of Argentina (22%) and Venezuela (24%). Meanwhile, at the regional level, the ECLAC It was considered that the exported volume will increase by 3%, with a 5% drop in product prices.
Specifically, the survey projected a 4% drop in the price of products exported from Uruguay in 2023, one of the lowest levels in the region, although sales volume will drop by up to 17%.
This situation is due to the impact of the historic drought in the country, which generated significant losses in the agricultural sector, as well as the current economic situation of China, that conspires against national placements.
Exports come from a month on the rise
These negative numbers are explained by eight consecutive falls in exports of goods, a streak that was cut in October, with a 14% year-on-year increase in placements. There it is also evident that Brazil was once again the main destination of the exports while China remains second, followed by European Union, United States and Argentina.
The latest report of Uruguay XXI, He specified that sales abroad in October were for a total of 960 million dollars, with beef as the product that brought in the most foreign currency into the country, representing 173 million dollars.
The podium was completed by cellulose, in second place with placements for 147 million dollars, followed by concentrates of drinks, with sales of 73 million dollars.
Source: Ambito
