Uruguay presents a promising market for Swiss and Liechtenstein exporters, with its stable economic growth and strong emphasis on renewable energy and manufacturing advancements, particularly in cellulose production, offering diverse opportunities for collaboration and investment.
The economy is driven by a significant services sector, while manufacturing is gaining momentum thanks to large-scale investments such as the UPM II cellulose plant. Export-oriented growth is evident: Uruguay’s goods exports rose by 13% in 2024, reaching approximately USD 12.845 billion, led by cellulose, soybeans and beef. Moreover, Uruguay is a sustainability leader - more than 90% of its electricity is generated from renewable sources, underscoring its green-infrastructure credentials.
For Swiss firms, this means strong potential in high-quality machinery, chemicals, pharmaceuticals, infrastructure and clean energy solutions. At the same time, areas such as unemployment (~8.2%) and informality (~22–23%) reflect structural challenges that require careful local strategy and partner alignment.
No
Free Trade Agreement
There is a free trade agreement between Switzerland and this country. Source: State Secretariat for Economic Affairs SECO
0.09 0.09 billion
Total trade flows
Total goods traded with Switzerland (imports + exports). Source: UN Comtrade. Data as of 2023.
10.94 10.94 %
3-year GDP growth
Total real GDP growth over the last three years. Source: World Bank. Data as of 2023.
What excites me about Uruguay is its commitment to renewable energy - over 90% of their electricity comes from renewables, which can be a major advantage for Swiss companies focused on sustainability.
Bruno Aloi
Senior Consultant Latin AmericaLatest insights
NEWS
EFTA–Mercosur Free Trade Agreement: Ratification Monitor
Jul 7, 2026 · 1 min read
NEWS
EFTA-Mercosur negotiations officially concluded: New milestone for Swiss exports
Nov 4, 2025 · 1 min read
NEWS
Latin America: Tips for a successful market entry
Nov 4, 2025 · 5 min read
NEWS
Webinar: FTA between the EFTA states and Mercosur
S-GE Newsroom
Oct 3, 2025 · 2 min read
Get in touch
Do you have any questions about Switzerland Global Enterprise or would you like more information about our services? Contact us directly at one of our three locations or through one of our various communication channels!
- Your point of contact in Switzerland Would you also like to sell your products or services abroad? Or learn more about opportunities in your target market?
- Our branch offices around the world S-GE has its own teams (Swiss Business Hubs, SBHs) in approximately 45 countries. The Swiss Business Hubs are integrated into the diplomatic missions of the Federal Department of Foreign Affairs (FDFA).
Get access to exclusive business opportunities in Uruguay
FAQs
What is the current economic situation?
Uruguay’s economic indicators show solid performance, including robust export growth and steady GDP expansion. Inflation is moderate, and fiscal and external balances remain comparatively stable by regional standards. While domestic consumption is growing at a slower pace, the overall macroeconomic environment is favourable for Swiss companies seeking predictable, rule-based market conditions.
What are the main export and import trends?
Merchandise exports rose by about 13% in 2024, led by cellulose - which saw a strong production increase - along with soybeans, beef, dairy and beverage concentrates. Imports grew more modestly in non-energy categories, indicating stable demand for machinery, equipment and industrial inputs. This environment offers Swiss exporters opportunities in high-precision technology, processing equipment and engineering solutions.
What opportunities exist for Swiss companies?
Swiss firms can tap into Uruguay’s expanding manufacturing base, its strong renewable-energy infrastructure, and its demand for advanced machinery and high-quality industrial solutions. The growing cellulose sector, ongoing infrastructure investments, and Uruguay’s commitment to clean energy present clear openings for Swiss expertise in engineering, sustainability and automation.
Which sectors are most promising?
Promising sectors include manufacturing (especially pulp and cellulose supply chains), chemicals and pharmaceuticals, clean-energy technologies, and high-value agricultural and food-processing machinery. With services contributing the majority of GDP and employment, Swiss service providers also find opportunities in consulting, technology and financial solutions.
What are the main challenges and risks?
Key challenges include fluctuating exchange rates, structural unemployment, informality in the labour market and reliance on commodity cycles. Exporters should prepare for regulatory complexity, variations in local business practices and potential delays from supply-chain disruptions. Risk-mitigation strategies, strong local partnerships and flexible contract terms are essential for long-term success.
