Uruguay Trade is a growing business for this small nation in South America. Today the Uruguay economy is expanding rapidly and there are many people interested in learning more information related to modern day Trade of Uruguay.
The country presently exports a variety of food products, Manos del Uruguay or yarn and other commodities. Imports include petroleum products, capital goods and many types of high tech machinery.
Agriculture is a leading industry and it is very important to Uruguay. Along with fine wool the country of Uruguay exports a variety of grains; beef and other meats; fruits; dairy products and a variety of leather goods.
Uruguay's main trading partners to date have been the neighboring countries of Argentina and Brazil, but things are continuing to change as the trade in Uruguay makes inroads in the global trading community. Business dealings with other countries including the US and Europe are now beginning to expand.
Trade practices with Argentina and Brazil factor heavily in the Uruguay economy but the exchange of goods is different in relation to each country. Uruguay and Argentina share many industrial infrastructures and it industry expansion that drives much of the trading between these two nations.
Argentina is well aware that Uruguay trade is a competing factor because both countries export many of the same goods. For years it has been Argentina that exported expensive beef, meat and other foods from the South American continent. Now Uruguay is challenging this by ramping up its own numbers of exports of produce and meat as the country seeks to establish its own trading partners separate from those shared with Argentina. Luckily the world market for South American beef is enormous because meat is a prime component that factors heavily in both Uruguay and Argentinean Trade.
Uruguay and Brazil share a market that includes machinery and other industrial products. Chemicals, metals, and building needs are important to both of these countries and Uruguay has long imported many of these necessary items from Brazil.
As the country of Uruguay has sought to create its own niche in the world marketplace it has relied heavily on the nation's agricultural based products. However things continue to change and now this South American nation is able to market software products and even the rising tourist trade in Uruguay is bolstering the country's economic stability.
There have been many economic setbacks in the world recently that have had a major impact on Uruguay trade practices.
Brazil suffered a trading crisis in the late 1990s, followed by problems that arose with the Argentinean government and economy. Then Uruguay itself had to deal with major economic setbacks in 2002.
The Uruguay government decided to take a proactive stance and they created a new foreign policy that would ensure the diversification of Uruguay trade. Now the South American country of Uruguay actively seeks new ways to diversify its world export and import markets while simultaneously reducing its dependent position on neighboring South American nations. Uruguay has been working to develop new economic ties with countries such as Asia, Europe and the United States.