Uruguay Achieves Record High in Industrial Exports

Uruguay's Industrial Exports Hit Record High

Uruguay’s industrial sector has witnessed a remarkable 8% growth in exports in 2024 compared to the previous year, surpassing the levels achieved in 2022. This is according to the latest report from the Chamber of Industries of Uruguay (CIU).

Contributing Factors

Exports from free trade zones accounted for almost one-third of the total, attributed to increased activity from companies like UPM and PepsiCo.

Sectoral Performance

Despite a 4.3% decline in the dollar value of beef exports, the meat and its by-products sector continued to be a leading contributor to exports. The dairy sector followed with an 8% share, although it experienced a slight drop attributed to reduced purchases from Brazil, offset by Algeria's increased demand.

Automotive Industry Growth

The automotive sector, particularly in vehicles, parts, and accessories, showed outstanding performance with a 29% growth, mainly due to increased exports to Brazil.