Exports jumped in June, growing 34% year-on-year

The exports Uruguayan exports rose 34% year-on-year in June, after export requests, including those free trade zonewill reach some 1.266 billion dollars brought by the improvement in crops after a 2023 battered by drought, according to data from the latest report from the government agency Uruguay XXI.

The growth compared to last year was mainly explained by the increase in requests for seeds and oilseeds (soy), which increased sixfold compared to 2023, which was severely affected by the drought. Thus, the soybean sector was above the meat sector, which increased 3.79% due to better placements in USA, Netherlands and Israel.

Compared to the first half of the year, exports as a whole, including free trade zones, accumulated an increase of 10%, totalling 6.187 billion dollars.

For its part, in the breakdown, exports through customs, Excluding free trade zones, sales increased by 22% in June, while in the first half of the year sales grew by 11.2% and registered an improvement of 1.3% in the last 12 months.

As regards service exports, they increased by 2.1% in the first quarter of the year, while in the moving year ending in March they grew by 1.4% to reach US$ 6,209 million, a historically high level, mainly explained by business and IT services.

China once again led the ranking of destinations

With the recovery of exports of soy to China, The Asian giant once again led the list of countries, even though meat sales remained below the levels of previous years. Thus, the year-on-year variation was 97.0% with total sales of 222.5 million dollars.

This way, Brazil fell to second place due to lower dairy placements and USA recorded an increase due to higher orders for meat and fruit. The neighboring country represented a year-on-year drop of 9.08% with 142.7 million dollars placed this year compared to 156.9 million dollars in 2023.

The North American country, for its part, represented an increase of 36.28% year-on-year, totaling 95 million dollars compared to 69.7 million dollars in the same period last year.