• Uruguay

    Uruguay

    Development Challenges 

    Uruguay is one of the most economically-developed countries in South America. In terms of human development, equity, corruption level, political and labour conditions, Uruguay holds one of top positions in the globe. Its well-educated work force and high levels of social spending make of the country a common destination for foreign investment. Uruguay’s export-oriented economy was the only one in the Americas that did not experience the recent global recession, thanks in part to the Port of Montevideo, which is the most advanced container terminal in South America. The country keeps maintaining unemployment at a low rate. Banking continues to be one of the strongest services exports of Uruguay. Yet the country still faces development challenges, including:

    • Underemployment
    • Drug trafficking

     Key Trade Issues 

    • Need to diversify the economy and trade partners. The Country is high dependent on neighbouring countries Argentina and Brazil
    • Need to end rivalry with neighbour countries specially the port of Buenos Aires in Argentina to end the “port war” and to succeed the agreement for the joint environmental monitoring between the two nations. As for Brazil, there is a need to end the two uncontested boundary disputes in order to develop a better regional integration
    • Need to replace numerous unpaved roads that connect farms and small towns
    • Need to ensure that Uruguayan firms are knowledgeable about foreign markets and how to approach them

    Government Priorities 

    • To continue regional and international integration by active participation in the UNASUR Constitutive Treaty, MERCOSUR, NAFTA, OEA, ALADI and free trade agreements with different countries
    • To improve competitiveness and attract foreign investment
    • To emphasize telecommuting in the context of stable rules, monitoring of unfair competition, and policies to strengthen their impact on social equity
    • To unify a high-tech institute (PROM-URUGUAY) with functional autonomy to promote Uruguay to the world
    • To rebuild the railway infrastructure
    • To promote science, technology and innovation
    • To reduce environmental impact

     

    Trade and Tariff Graphs

    Graphs of the country’s export markets, its export performance in a key sector and tariffs exporters of a sample product face.
    Trademap sample Trademap sample: The map uses color codes to illustrate the relative size of different markets in the overall exports of the country shown in pink.
    Trademap sample Trademap sample: The vertical axis shows import values by key importing countries, while the horizontal axis shows export values by the country for the same sector. I.e. the country has gained market share in the case of an importing country at the bottom right of chart and lost market share for countries top left. The size of circles is proportional to market size.
    Market access map sample Market access map sample: The world map shows trade values and tariff levels for a key export product by importing countries. Color codes indicate protection levels. Red circles denote trade volumes.

    Trade and Investment Data

    Detailed data on the country’s export performance, key imports and foreign investment, grouped by product and service categories (HS and BOP).

    Trade Information Sources

    A listing of country specific print and online publications on trade related topics. Includes information from both ITC and external sources.

    Trade Contacts

    The most important trade contacts, including importers’ and exporters’ associations, trade support institutions, trade promotion organizations and institutions providing business development assistance.