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Uruguay's Agriculture Sector
Agriculture contributes roughly 10% to the country’s GDP and is the main foreign exchange earner, putting Uruguay in line with other agricultural exporters like Brazil, Canada and New Zealand. Uruguay’s agriculture has relatively low inputs of labour, technology and capital in comparison with other such countries, which results in comparatively lower yields per hectare but also opens the door for exports of new technologies and practices from the UK to increase yields.
With just 3.5 million people, Uruguay exports food for more than 28 million people in 140 markets and has the potential to produce food for over 50 million people. The sector requires greater efficiencies to thrive. UK companies with innovative agritech solutions will find in Uruguay a secure and reliable market in South America.
Key facts:
- 3 cows and 2 sheep per person
- natural fields represent 70% of exploited land
- ranked the biggest consumer of beef per capita in the world with 58 kg/year in 2016
- biggest investment in the history of the country was the installation of a high-tech pulp mill which boosted the forestry sector in 2007
Doing Business in Uruguay
- strategic location in MERCOSUR and Southern Cone
- strong democratic tradition, with social, political and economic stability
- high level of education, life quality and security
- pro-business legal framework
- international financial marketplace: banking secrecy protected by law
- free capital and dividends remittance (exchange of foreign currency, transfer and/or repatriation)
- preferential tax regimes
