Raw bovine and equine hides and skins market in Uruguay

Earlier Report Observations

The market for raw bovine hides in Uruguay began the period at nearly 80,000 tons in 2018, a level supported by robust export activity from the combined meat and leather complex, which saw a 30.7% annual increase driven by strong global demand for protein. Subsequently, the domestic market volume contracted significantly, falling to 44,873 tons by 2020, as steadily rising export shipments claimed a larger portion of national production.

A recovery phase started in 2021, with market volume growing to over 63,500 tons by 2023. This turnaround was initially driven by high cattle slaughter rates in 2021, which supplied more raw material. The growth continued into 2022, aided by improved cattle production indicators and a key regulatory change: the government repealed a 1981 decree that had imposed mandatory quality controls for leather exports, simplifying trade procedures. By 2023, the industry faced challenges from falling international hide prices and stricter environmental regulations, which moderated production growth and led to market stabilization.

In 2024, a significant policy shift aimed at boosting the sector's competitiveness took place, as the government eliminated all export duties on fresh, salted, dried, and finished bovine hides. This move sought to level the playing field with other agricultural exports and encourage internationalization, although the broader meat sector contended with high tariff barriers in key foreign markets.

Production raw bovine and equine hides and skins in Uruguay

In kind, 2017-2020, t

Between 2017 and 2020, Uruguay was one of the world's leading producers of raw bovine and equine hides and skins, ranking 22nd globally by production volume.

Top producers of raw bovine and equine hides and skins, 2017-2020

World map of production of raw bovine and equine hides and skins, 2017-2020

Uruguay's production of raw bovine and equine hides and skins declined for the third consecutive year. In 2020, the country produced 68 675 tons, representing a significant decrease of 12.1% compared to the previous year. Over the 2017-2020 period, production fell by 14.1%, with a compound annual growth rate of -5.0%.

Annual dynamics of production in Uruguay in kind, 2017-2020, t

Exports raw bovine and equine hides and skins from Uruguay

Exports in kind, t

Uruguay's export volume of raw bovine and equine hides and skins increased for the third year in a row. In 2020, exports reached 26 648 tons, surging by 103.9% year-over-year. From 2017 to 2020, exports grew by 709.1%, equivalent to an annualized rate of 100.8%.

Annual dynamics of product's exports from Uruguay in kind, 2017-2020, t

From 2017 to 2020, Brazil and China together accounted for 84.5% of Uruguay's total exports of raw bovine and equine hides and skins by volume, with the remainder distributed among smaller markets.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Uruguay in kind, 2017-2020

Exports in value, K $ US

Uruguay's export value of raw bovine and equine hides and skins rose for the third consecutive year. In 2020, exports amounted to 10 358 thousand US dollars, marking a 51.5% increase compared to the previous year. Between 2017 and 2020, export value grew by 193.3%, with an annualized rate of 43.1%.

Annual dynamics of product's exports from Uruguay in value, 2017-2020, K $ US

During the 2017-2020 period, Brazil, China, and Thailand formed the primary markets for Uruguay's exports of raw bovine and equine hides and skins in value terms. Brazil accounted for 42.9% of exports, China for 36.3%, and Thailand for 11.0%, together representing 90.2% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Uruguay in value, 2017-2020

Imports raw bovine and equine hides and skins to Uruguay

Imports in kind, t

The import market for raw bovine and equine hides and skins in Uruguay showed volatility from 2017 to 2020. Imports reached their lowest point in 2017 and peaked in 2018, with a 1.9-fold difference between these years. In 2020, imports stood at 2 846 tons, up by 4.6% compared to the previous year. The largest decline occurred in 2019, at 39.3%, while the largest increase was recorded in 2018, at 87.6%.

Annual dynamics of product's imports to Uruguay in kind, 2017-2020, t

From 2017 to 2020, Brazil and Argentina dominated Uruguay's imports of raw bovine and equine hides and skins by volume, jointly accounting for 99.3% of total imports.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Uruguay in kind, 2017-2020

Imports in value, K $ US

Uruguay's import value of raw bovine and equine hides and skins exhibited an unstable trend from 2017 to 2020. Imports dropped to their lowest point in 2020 and peaked in 2018, with a 2.4-fold difference. In 2020, imports amounted to 1 448 thousand US dollars, showing a modest decrease of 8.8% compared to 2019. The largest decline was in 2019, at 53.3%, while the largest increase occurred in 2018, at 109.5%.

Annual dynamics of product's imports to Uruguay in value, 2017-2020, K $ US

Between 2017 and 2020, Brazil remained the main source of raw bovine and equine hides and skins for Uruguay in value terms, accounting for 80.0% of total imports, with the rest distributed among other countries.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Uruguay in value, 2017-2020