Narayan AmmachchiUruguay’s service exports are gaining steady momentum, nearing $7 billion in 2024, driven by robust performance in tourism, IT, and business services — and powered increasingly by the country’s free economic zones.
According to the Export Focus report by the Unión de Exportadores del Uruguay, service exports rose 2.3% year-on-year in the twelve months ending September, reaching $6.98 billion. The strongest performers were business services, up 7.8%, and information technology and telecommunications, which surged 14.4%.
The report attributes the growth to sustained international demand for Uruguayan software and IT solutions, particularly from clients in the United States and across Latin America. Much of this output comes from firms based in Zonamerica and Aguada Park, two of Uruguay’s leading free trade zones that continue to attract global companies and generate new employment.
The United States and regional neighbors such as Argentina, Brazil and Chile remain Uruguay’s key service markets, while the European Union is emerging as an important destination — especially for ICT, design, and professional services. Between 2019 and 2024, Uruguay’s service exports have expanded by nearly 20%.
Meanwhile, transportation services climbed 10%, offsetting a 3% decline in tourism exports, as visitor spending dropped due to a sharp fall in arrivals from Argentina, traditionally the country’s largest source of tourists.
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