The Institute of International Business of the Catholic University of Uruguay published its biannual report analyzing commercial relations between Uruguay and China in 2023. The trade balance of Uruguay with China worsened in the year 2023, registering a deficit of US$750.2 million. Uruguayan exports to China decreased by 40.1% in the year 2023 compared to 2022, excluding the duty-free zone, whereas the imports showed an increase of 2.0% compared to the previous year.
Furthermore, the report explained the main results achieved during the last presidential visit, highlighting the signing of more than 20 memorandums in areas such as economic development, cooperation in the Belt and Road Initiative, industries, communications, etc.
