exports of beef experience a 21% drop in February 2023, which translates into a decrease of 8% in Uruguay’s total exports year-on-year. However, other products such as cellulose, dairy products and beverage concentrates continue to experience a significant increase in exports.
During the month of February 2023, Uruguayan exports of goods suffered a decrease of 8% year-on-year, which represents a significant drop. The total value of exports reached $939 million, which represents a decrease compared to the same month of the previous year. The main cause of this decrease in exports is the 21% year-on-year drop in beef exports.
Specifically, beef exports registered a decrease in February 2023, compared to the same period of the previous year. The total value exported was US$196 million, which represents a 21% drop compared to February 2022, when US$247 million in beef was exported. Despite this decrease, bovine meat still represents 21% of the total exported in February 2023, compared to 30% in the same period of the previous year.. This decline is mainly due to the year-on-year drop in meat exports to Chinawhich experienced a 36% drop: from US$147 million in February 2021 to US$94 million in February 2022.
Despite the drop in beef exports, other products continue to experience a significant increase in exports. For example, pulp continues to experience a significant increase in exports during February 2023, reaching a total of US$173 million, which represents an increase of 38% compared to the same period of the previous year, when US$ 125 million. This product represented 15% of the total exported in 2022 and this percentage increased to 18% in 2023.
The reality of dairy products: exports continue to decline
On the other hand, dairy products represented 7% of the total exported in February 2022, with a value of US$73 million. However, in 2023 the exported value decreased by 11%, reaching US$ 64 million. Despite this decrease, dairy products continued to represent 7% of total exports in 2023. Shipments to important destinations such as China, Algeria and the Russian Federation fell, although Brazil multiplied its purchases by a little more than three, largely offsetting measure these falls.
Exports of milk, powdered milk and cream fell from US$56 million in February 2022 to US$46 million. This product is important, since it makes up 72% of the exports in the month by way of dairy products. Meanwhile, exports of cheese and cottage cheese had a considerable increase of 24% compared to February 202
