Updated in January 2025.
In sun and shadow
BB1
Low risk for enterprise
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Form of state | Constitutional Republic |
Head of government | Yamandú Orsi (President-elect) |
Next elections | 2028, General |
Strengths & Weaknesses

- Robust democracy with a stable political framework and low corruption levels
- Resilience in agricultural exports and a track record of fiscal discipline
- Strong international reserves and moderate external debt as buffers against shocks

- High levels of public debt and continued dollarization
- Limited governability challenges due to lack of majority in the lower house
- Growing threats from organized crime, including drug trafficking via porous borders
Economic Overview
Trade Structure by destination/origin
(% of total, 2023)
Trade Structure by product
(% of total, annual 2023)
Trade structure by destination/origin
(% of total, 2022)
Exports | Rank | Imports |
---|---|---|
China
21.5%
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1 |
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Brazil
15.0%
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2 |
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Argentina
8.1%
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3 |
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United States
6.2%
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4 |
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Netherlands
2.6%
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5 |
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Trade structure by product
(% of total, 2022)
Exports | Rank | Imports |
---|---|---|
Meat and meat preparations
26.5%
|
1 |
16.0%
Petroleum, petroleum products and related materials
|
Oil seeds and oleaginous fruits
19.0%
|
2 |
10.4%
Road vehicles
|
Cereals and cereal preparations
10.0%
|
3 |
5.4%
Fertilizers other than group 272
|
Cork and wood
8.7%
|
4 |
4.3%
Specialised machinery
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Dairy products and birds' eggs
7.7%
|
5 |
3.8%
Chemical materials and products, n.e.s.
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Contacts
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