Goods exports grew 4% in July, reaching US$1.219 billion

Uruguay’s goods exports, including shipments from free trade zones, totaled US$1.219 billion in July 2026, according to the latest Monthly Foreign Trade Report prepared by Uruguay XXI’s Competitive Intelligence Department. This represented a 4% increase compared with July 2025, driven by stronger exports of beef, pulp, and dairy products, despite a decline in soybean shipments.

From January through July, exports totaled US$7.819 billion, 2% more than in the same period of 2025.

Beef was Uruguay’s leading export product in July, with sales of US$280 million—up 25% year over year—and accounted for 23% of total exports. Export volume rose 8% to 34,256 metric tons. The sharper increase in value reflected favorable international beef prices throughout 2026.

China remained the leading destination for Uruguayan beef, with purchases totaling US$87 million, up 17%. It was followed by the United States, where sales rose 33% to US$77 million. Exports to the European Union totaled US$47 million, down 1% year over year, while Israel doubled its purchases to US$25 million.

Pulp ranked second, with exports of US$143 million, up 12%. The composition of its destination markets shifted during the month: the European Union became the leading market, with purchases of US$61 million, up 75%, while exports to China fell 27% to US$51 million. South Korea recorded the largest percentage increase, with sales rising 313% to US$10 million.

Dairy products completed the top three, with exports of US$95 million, 31% more than in July 2025. The sector exported to more than 55 markets, led by Brazil, where sales increased 50% to US$31 million. Beverage concentrate exports also grew, rising 18% to US$86 million.

Soybeans recorded the largest decline. Exports fell 57% to US$86 million, compared with US$199 million in July 2025. This contraction was closely linked to China, where soybean sales dropped 68%. Outside the five leading categories, exports of live cattle, lumber, and meat byproducts increased, while rice and vehicle exports declined.

European Union and United States increased their purchases

China remained the leading destination for Uruguayan exports, with purchases of US$235 million and a 19% share of the total, although sales to the market fell 35%. Growth in beef exports was not enough to offset lower soybean and pulp shipments. Together, these three products accounted for 83% of Uruguay’s exports to China.

Brazil ranked second, with purchases of US$190 million, up 13% year over year. Vehicles were the leading export product, while dairy products, plastics, and beverage concentrates also contributed to the increase.

The European Union recorded the fastest growth among the three leading destinations. Exports rose 42% to US$174 million. The export basket comprised more than 40 products and was led by pulp, followed by beef, rice, lumber, and soybeans.

The United States ranked fourth, with purchases of US$134 million—an increase of 33%—driven primarily by beef, along with higher citrus and lumber exports. Türkiye completed the top five, with purchases of US$64 million, up 60%, largely due to live cattle exports.

The EU–Mercosur Agreement: Topic of the Month

The report’s “Topic of the Month” section examines the new Mercosur–European Union Agreement Portal and the use of tariff preferences during the first 12 weeks of the agreement’s provisional application. Between May 4 and July 26, Uruguayan goods valued at US$13.8 million entered the European Union under preferential terms. These shipments totaled 6,413 metric tons, covered 26 tariff lines, and reached 11 countries.

According to estimates included in the report, these transactions would have incurred US$2.9 million in tariffs under the most-favored-nation regime, compared with US$0.7 million under the agreement’s preferential terms. The resulting tariff savings were estimated at US$2.1 million, equivalent to 15.6% of the value of the goods imported by the European Union.

The new portal provides information on tariffs, tariff phaseout schedules, quotas, rules of origin, and market access requirements, helping companies identify and take advantage of the benefits available under the agreement