Loans increased 3% year-on-year in February, accumulating 4 increases in the last 5 months, according to data from Uruguay XXI.
The exports increased 3% in February compared to the same month last year, with sales totaling 965 million dollars, according to the latest foreign trade report from Uruguay XXI.
The main product was beef, with sales of 188 million dollars, which fell 4% in the interannual comparison, while the cellulose, with placements of 186 million, a growth of 7% compared to February 2023.
Behind were the concentrates of drinks, with an increase of 28% and sales of 75 million dollars; he wheat, which achieved an improvement of 31% and exported 55 million; and the products dairy, with a drop of 20% and placements of 52 million.
Then they appeared meat by-products, with an increase of 23% and sales of 41 million dollars; the rape and the carinata, with a drop of 9% (40 million); the wood, which fell 36% (34 million); the vehicles, with a decline of 11% (34 million); and the barley, which was sold for 29 million dollars, when in February 2023 it had not been exported.
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Uruguayan exports recover after the fall in 2023
After a difficult 2023, the exports They are beginning to recover, with a cumulative increase of 5% in the first two months of the year. Furthermore, if the last five months are counted, there were four increases and only one decrease, which occurred in December.
Added to this is that between March and June was the hardest part of last year’s drop in loans, which could lead to a more significant increase in 2024, where a rebound in lending is expected. Industrial production and of agro, with the end of the drought and the full capacity of UPM 2.
Brazil remains the main trading partner
Regarding destinations, Brazil was once again the country that received the most Uruguayan exports, with 18% of the total, acquiring products for about 147 million dollars, with the boost of the barley and vehicles.
In second place came again China, with sales of 104 million dollars, 13% of the total and a reduction of 25% compared to what was exported in February 2023.
Further behind were the European Union, with 12% of the total and placements for 96 million dollars; USA, which reached 9% of the participation, with 76 million dollars; and Argentina, with 28 million (3%), which fell 10% year-on-year.
Source: Ambito
