Latin America & the Caribbean
Opportunities for UK companies
Uruguay
Uruguay is one of the most politically stable countries in the region. The Economist magazine’s Economist Intelligence Unit (2021) places Uruguay among the 20 complete democracies worldwide, standing out as the first and only one in Latin America[1]. Uruguay is known for its egalitarian society, for its high income per capita and for the steady economic growth it has enjoyed in the last 15 years. Most recently by a trusted and contained pandemic management, which has offer reassurances to its trading and investment partners.
Uruguay was categorized as a high-income country with the biggest middle class in the entire region (close to two thirds of its small 3.5 million inhabitants)[2]. The country is positioned at the top of the Political Stability, Transparency and Low Corruption Rankings in Latin America[3].
Market detail
Uruguay offers a small and yet reliable and pilot-prone base, often a regional base facilitating the entry of foreign goods and services to the wider region. Its continued growth performance has been driven by the increase in private consumption and growing international trade.
The country is a founding member of Mercosur trading bloc and supports international integration through the promotion of trade agreements.
UK companies exporting to Uruguay will find:
- European oriented culture and business practices
- Hub assets
- High complementarity trade index with the UK
- Electronic and user friendly trade platforms
- Incentives for Foreign Direct Investment
- English & Portuguese spoken broadly
- Political, economic and social stability
- Gateway to the region
Opportunities in Uruguay for UK companies:
- Life Sciences
- Automotive
- Fintech
- Green economy
- Infrastructure
- Agritech
“UK companies are tapping into Uruguay’s distribution hub assets: rapid and predictable logistics, plus tax benefits, which enable an efficient entry to the neighbours’ attractive markets”
