In July 2018, the export requests including free trade zones totaled USD 663 million, which entailed a fall of 13% percent compared to September 2017. The fall in exports this month is mainly explained by the negative effect of soybean, and, to a lesser degree, rice, malt, paper pulp and livestock. In turn, exports of dairy products, wool, plastics and wood increased this month, but were not able to make up for the fall in soybean exports. In fact, excluding soybean, July exports were stable in terms of value.
Exports in the first seven months of the year reached USD 5,281 million, which entails an increase of 1.1% against the same period of 2017. Paper pulp, wood and sub products, livestock, beef and vehicles were the items of highest positive effect. In turn, soybean was the product with the highest negative impact. Over the year, the impact of the poor soybean harvest represented a fall of USD 500 million compared to the same period of 2017.
Matter: Uruguay has substantially improved over several indicators connected with trade facilitation. A recent report by OECD showing how Uruguay has made progress in these dimensions and comparing it to Latin American countries is analyzed.