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LatinNews Daily - 03 July 2018

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In brief: Uruguay

Uruguay: Uruguay XXI, Uruguay’s official exports and investment promotion agency, has revealed that in the first six months of the year the country’s exports amounted to US$4.63bn, equivalent to a 2.3% increase compared with exports during the same period of 2017. This also marks the best performing first semester for Uruguayan exports since 2015. The report by Uruguay XXI highlights that the most exported products during this period were cellulose, wood and goods produced from it, livestock, and beef. Nonetheless, although exports increased in the first quarter of 2018 compared with the same period in 2017, they decreased year-on-year in the second quarter. The month in which the fall in exports was most pronounced was June, when shipments fell by 17% compared with June 2017, which the agency attributed largely to a fall in soya exports. Soya exports fell by 78% year-on-year in June, attributable to the lack of rainfall during the summer months which damaged crop production. Indeed, if soya had been omitted from the agency’s calculations, it reported that a 6% year-on-year increase in exports would have been registered in June.