Uruguay in unique position: A trade surplus with China
Sergio Held 7 October 2020
Uruguay, one of the most stable economies in Latin America, is increasingly looking to China to boost trade and growth.
And Uruguay has a trade surplus with China, one of the few countries in the world to be in that position. A recent story in China Daily highlights this unique position. Why? Uruguay is small but it produces lots and lots of food, much more food than the country of just 2 million needs.
Uruguay’s exports to China, which is now the Latin American country’s largest trading partner, topped US$2.1 billion last year, almost a third of the country’s total.
Thirty-two years after Uruguay established diplomatic relations with China, the country’s relatively young administration is looking to the other side of the world to short up its trade, economy and finances.