Weekly Report - 27 January 2011 (WR-11-04)

URUGUAY | Exports. Meat exports, the motor of the economy, increased by 16.3% to US$1.13bn in 2010 on the previous year, finishing just short of the record of US$1.22bn set in 2008, according to official figures. The increase was down to higher international prices as the volume of meat exports actually fell by 6.1%. The main destination was the European Union (EU), which accounted for US$326m of the total, followed by Russia (US$282m) and Mercosur countries (US$125m). The total in volume terms was 245,789 tonnes.
Total exports increased by 23% to US$6.76bn in 2010, according to the Uruguayan union of exporters (UEU), citing customs figures. They were also up by 12% on the previous record for exports (US$6.0bn) posted in 2008 before the global economic slowdown bit last year. Unofficial figures show that imports, meanwhile, climbed 33% to US$6.94bn, excluding oil imports, which are likely to push this figure over US$8bn.

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