That dollar amount reflects a 44.1% increase from $9 billion for 5 years earlier in 2018.
Year over year, the value of Uruguay’s imported products accelerated by 25.7% compared to $10.3 billion during 2021.
The top 5 most valuable products imported by Uruguay during 2022 were crude oil, cars, processed petroleum oils, phone devices including smartphones, and nitrogenous fertilizers. Added together, that subgroup of major Uruguayan imports accounted for roughly one-quarter (24.5%) of the Latin American nation’s overall import purchases.
Based on the average exchange rate for 2022 on a Purchasing Power Parity basis, the Uruguayan peso dropped by -34% against the US dollar since 2018 but appreciated by 5.5% from 2021 to 2022. Uruguay’s weaker local currency compared to 2018 makes Uruguayan imports paid for in its weaker local currency since 2018 relatively more expensive for Uruguayan buyers.
Top International Suppliers for Uruguayan Imports
The latest available country-specific data shows that over four-fifths (81.4%) of products imported into Uruguay was sold by exporters in: Brazil (19.9% of the Uruguayan total), mainland China (18.1%), United States of America (15.8%), Argentina (11.5%), Nigeria (2.9%), Germany (2.3%), India (2.1%), Spain (2%), Mexico (1.9%), France (1.7%), Türkiye (1.6%) and Italy (1.5%).
From a continental perspective, well over two-thirds (35.4%) of Uruguay’s total imports by value in 2022 were purchased from fellow Latin American countries excluding Mexico but including the Caribbean. Asian trade partners supplied 28.4% of import buys by Uruguayan importers. Another 18.4% worth of goods originated from sellers in North America and 13.4% from those in Europe.
Smaller percentages came from exporters in Africa (4.1%) and Oceania (0.2%) led by Australia and New Zealand.
Given Uruguay’s population of 3.56 million people, its total $13 billion in 2022 imports translates to roughly $3,600 in yearly product demand from every person in the South American nation. That dollar metric exceeds the average $2,900 per person one year earlier during 2021.
Uruguay’s Top 10 Imports
The following product groups represent the highest dollar value in Uruguay’s import purchases during 2022. Also shown is the percentage share each product category represents in terms of overall imports into Uruguay.
- Mineral fuels including oil: US$2.2 billion (17.2% of total imports)
- Vehicles: $1.5 billion (11.2%)
- Machinery including computers: $1.3 billion (9.7%)
- Electrical machinery, equipment: $878.8 million (6.8%)
- Fertilizers: $701.3 million (5.4%)
- Plastics, plastic articles: $650.3 million (5%)
- Other chemical goods: $450.4 million (3.5%)
- Pharmaceuticals: $360.4 million (2.8%)
- Meat: $299.6 million (2.3%)
- Articles of iron or steel: $242.6 million (1.9%)
Uruguay’s top 10 imports accounted for 65.7% of the overall value of its product purchases from other countries.
The fastest-growing imports into Uruguay were fertilizers (up 58.6% from 2021), mineral fuels including oil (up 51.3%) then vehicles (up 34%).
Uruguay’s slowest increases were for imported items made from iron or steel (up 13.1% from 2021) and plastic both as materials and products made from plastic (up 13.3%).
Please note that the results listed above are at the 2-digit Harmonized Tariff System code level. Information presented under the sections below is at the more granular 4-digit level.
Uruguay’s Most Valuable Imported Fuel Products
In 2022, Uruguayan importers spent the most on the following 10 subcategories of mineral fuels-related products.
- Crude oil: US$1.7 billion (up 49% from 2021)
- Processed petroleum oils: $354.5 million (up 48.9%)
- Petroleum gases: $102.3 million (up 44%)
- Petroleum oil residues: $63.7 million (up 226.8%)
- Natural bitumen, asphalt, shale: $48 million (up 88.3%)
- Peat: $2.9 million (up 16.8%)
- Petroleum jelly, mineral waxes: $1.8 million (up 26.1%)
- Coal tar oils (high temperature distillation): $1.5 million (up 88.1%)
- Asphalt/petroleum bitumen mixes: $953,000 (down -19.1%)
- Electrical energy: $464,000 (down -88.7%)
Among these import subcategories, Uruguayan purchases of petroleum oil residues (up 226.8%), natural bitumen, asphalt and shale (up 88.3%) then high-temperature distilled coal tar oils (up 88.1%) grew at the fastest pace from 2021 to 2022.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of mineral fuels-related imports among Uruguayan businesses and consumers.
Uruguay’s Most Valuable Imported Vehicles
In 2022, Uruguayan importers spent the most on the following 10 subcategories of vehicles including non-motorized products.
- Cars: US$476.8 million (up 20.8% from 2021)
- Trucks: $332.9 million (up 19.2%)
- Automobile parts/accessories: $278.2 million (up 52.4%)
- Tractors: $192.2 million (up 72.9%)
- Trailers: $47.7 million (up 65.2%)
- Motorcycles: $37.7 million (up 21.1%)
- Automobile bodies: $29.1 million (up 295.9%)
- Public-transport vehicles: $25.8 million (up 47.7%)
- Special purpose vehicles: $13.7 million (up 73%)
- Bicycles, other non-motorized cycles: $13.3 million (down -30.8%)
Among these import subcategories, Uruguayan purchases of automobile bodies (up 295.9%), special purpose vehicles (up 73%) then tractors (up 72.9%) grew at the fastest pace from 2021 to 2022.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported road vehicles including non-motorized products among Uruguayan businesses and consumers.
Uruguay’s Most Valuable Imported Machinery
In 2022, Uruguayan importers spent the most on the following 10 subcategories of machinery including computers.
- Computers, optical readers: US$138.7 million (down -5.3% from 2021)
- Heavy machinery (bulldozers, excavators, road rollers): $88.9 million (up 44.4%)
- Harvest/threshing machinery: $85.4 million (up 89.3%)
- Refrigerators, freezers: $75.9 million (up 16.2%)
- Miscellaneous machinery: $65.4 million (up 107.2%)
- Spray/dispersing mechanical appliances: $64 million (up 49.9%)
- Soil preparation machinery: $57.4 million (up 62.4%)
- Centrifuges, filters and purifiers: $49.5 million (up 23%)
- Air conditioners: $48.9 million (up 64.4%)
- Agricultural, horticultural and forestry machines: $38.8 million (up 86.5%)
Among these import subcategories, Uruguayan purchases of miscellaneous machinery (up 107.2%), harvesting and threshing machinery (up 89.3%) then agricultural, horticultural and forestry machines (up 86.5%) grew at the fastest pace from 2021 to 2022.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of machinery-related imports (including computers) among Uruguayan businesses and consumers.
Uruguay’s Most Valuable Imported Electronics
In 2022, Uruguayan importers spent the most on the following 10 subcategories of electronics and electricity-related products.
- Phone devices including smartphones: US$347.6 million (up 27.1% from 2021)
- TV receivers/monitors/projectors: $75.3 million (up 29.8%)
- Insulated wire/cable: $53.8 million (up 58.2%)
- Electrical converters/power units: $39.3 million (down -12.6%)
- Electric water heaters, hair dryers: $37.8 million (up 9.8%)
- Lower-voltage switches, fuses: $35.9 million (up 24.8%)
- Electric storage batteries: $27.7 million (up 17.3%)
- Electrical/optical circuit boards, panels: $21.9 million (up 3.7%)
- Electrical traffic control machinery: $20.9 million (up 84%)
- Electric motors, generators: $20.8 million (down -1.8%)
Among these import subcategories, Uruguayan purchases of electrical traffic control machinery (up 84%), insulated wire or cable (up 58.2%) then television receivers, monitors and projectors (up 29.8%) grew at the fastest pace from 2021 to 2022.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of electricity-related imports among Uruguayan businesses and consumers.
See also Uruguay’s Top 10 Exports, Uruguay’s Top Trading Partners, Brazil’s Top 25 Trading Partners, Argentina’s Top Trading Partners and Mexico’s Top Trading Partners
Research Sources:
Central Intelligence Agency, The World Factbook: Country Profiles. Accessed on October 20, 2023
International Trade Centre, Trade Map. Accessed on October 20, 2023
Richest Country Reports, Key Statistics Powering Global Wealth. Accessed on October 20, 2023
Wikipedia, Uruguay. Accessed on October 20, 2023