KEY POINTS
- Uruguayan exports under the Mercosur-EU agreement totaled US$ 13.8 million in the first 12 weeks.
- Beef led exports with US$ 5.6 million, followed by citrus, honey, and rice.
- Exporters saved an estimated US$ 2.1 million in tariffs, with the Netherlands as the top destination.
Uruguay’s exports to the European Union under the interim Mercosur-EU trade agreement reached US$ 13.8 million in the first twelve weeks of implementation, according to official data. The period covered from May 4 to July 26, 2026, with a total volume of 6,413 tons.
As reported by El Observador, the data from Uruguay XXI shows that US$ 5.5 million corresponded to the general preferential regime, while US$ 8.3 million were managed within tariff quotas through the Single Foreign Trade Window.
The utilization rate has been ascending. The first three weeks totaled US$ 0.4 million, while the last four weeks accounted for US$ 8.5 million, representing 62% of the total accumulated value.
The export basket concentrated on agri-food products, with beef leading at 41% (US$ 5.6 million), followed by citrus at 22% (US$ 3 million), honey at 11% (US$ 1.5 million), and rice at 10% (US$ 1.3 million). Additional shipments included horse meat (US$ 1.1 million) and fish (US$ 0.8 million).
The main destination was the Netherlands, absorbing half of the value, followed by Spain (16%), Belgium (10%), and Germany (9%).
The agreement’s preferences allowed exporting companies an estimated tariff savings of US$ 2.1 million, equivalent to 15.6% of the value entered. The effective protection on this basket decreased from 20.7% under most-favored-nation regime to 5.1% with the agreement’s preferences. Beef accounted for 77% of the total savings.
To facilitate adoption, Uruguay XXI has launched the Mercosur-EU Agreement Portal, a digital tool aimed at reducing information gaps and easing trade management.
Strategic Implications for Investors
This trade agreement enhances Uruguay’s attractiveness as an investment hub by providing preferential access to the EU market, a key factor for foreign investors considering Uruguay as a base for manufacturing or agricultural processing. The reduced tariffs improve profit margins for exporters and signal a stable, outward-looking trade policy that aligns with international standards, potentially boosting foreign direct investment in sectors like agribusiness and logistics.
