Soaring imports push Uruguay’s trade deficit in the first quarter

Jun 02, 2011 12:00 AM

Uruguay’s trade balance registered a deficit of $ 790 mm in the first quarter of the year, according to the latest data from the central bank.
Exports totalled $ 1.681 bn, up 30.5 % over the previous year while imports totalled $ 2.470 bn, up 49.5 %.

This means that the trade deficit during the first quarter of 2011 more than doubles that of the same period a year ago. This was caused mainly because of imports expanding at a faster pace than exports.
Uruguay’s main exports were soy, beef and rice.

Among the country’s main trade partners figure Brazil, the free zone of Nueva Palmira (from where most exports head for China and the EU), China, Argentina and Russia.
In March, exports totalled $ 564 mm (up 18 % over the same month a year ago) while imports, $ 989 mm (up 27.6 %) with a trade deficit of $ 379 mm.

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