Uruguay: Other Chemical Products Market 2024

Other Chemical Products Market Size in Uruguay

In 2022, the Uruguayan other chemical products market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption, however, faced a abrupt decline. Other chemical products consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Other Chemical Products Exports

Exports from Uruguay

In 2022, other chemical products exports from Uruguay fell dramatically to X tons, with a decrease of -57.3% on the year before. Over the period under review, exports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2021 with an increase of 1,930% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, other chemical products exports contracted markedly to $X in 2022. Overall, exports saw a perceptible slump. The most prominent rate of growth was recorded in 2021 with an increase of 3,094% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

The Philippines (X tons) was the main destination for other chemical products exports from Uruguay, with a 36% share of total exports. Moreover, other chemical products exports to the Philippines exceeded the volume sent to the second major destination, Brazil (X tons), twofold. The third position in this ranking was taken by Jamaica (X tons), with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Philippines amounted to +6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+0.5% per year) and Jamaica (+9.6% per year).

In value terms, the Philippines ($X) remains the key foreign market for other chemical products exports from Uruguay, comprising 73% of total exports. The second position in the ranking was held by Colombia ($X), with an 8% share of total exports. It was followed by Japan, with a 4.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Philippines totaled +22.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+58.8% per year) and Japan (-27.4% per year).

Export Prices by Country

In 2022, the average other chemical products export price amounted to $X per ton, with an increase of 21% against the previous year. Over the period under review, the export price showed a remarkable increase. The most prominent rate of growth was recorded in 2016 an increase of 67%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to Jamaica ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+31.9%), while the prices for the other major destinations experienced more modest paces of growth.

Other Chemical Products Imports

Imports into Uruguay

In 2022, supplies from abroad of other chemical products was finally on the rise to reach X tons for the first time since 2016, thus ending a five-year declining trend. Over the period under review, imports, however, showed a deep slump. The most prominent rate of growth was recorded in 2013 with an increase of 47% against the previous year. Over the period under review, imports reached the maximum at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, other chemical products imports reached $X in 2022. In general, imports, however, continue to indicate a deep slump. The most prominent rate of growth was recorded in 2013 with an increase of 33% against the previous year. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

The United States (X tons), Brazil (X tons) and Argentina (X tons) were the main suppliers of other chemical products imports to Uruguay, together accounting for 86% of total imports. The Netherlands, Germany, Singapore and Malaysia lagged somewhat behind, together accounting for a further 9.8%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +8.6%), while purchases for the other leaders experienced a decline.

In value terms, the largest other chemical products suppliers to Uruguay were the United States ($X), Brazil ($X) and Argentina ($X), with a combined 81% share of total imports. Germany, the Netherlands, Malaysia and Singapore lagged somewhat behind, together comprising a further 8.8%.

The Netherlands, with a CAGR of +3.1%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average other chemical products import price stood at $X per ton in 2022, stabilizing at the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 24% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2021, and then shrank in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+6.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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