Mercosur Agriculture Industry
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Over the past three years, Uruaguy has been placing most of their countries interest into both freer trade and the increase of oil production. Production of oil in Uruguay has been increasing more rapidly from 2009 to 2011. With saying this, investment in oil production has been the highest ever in in Uruaguay history and with the investments they have implemented several operations to help achieve their goal. This country, which hopes to discover offshore oil riches like those of neighboring Brazil, has awarded eight exploration blocks to search for unfound oil. In the year 2011, Uruguay produces 28,000 barrels of oil per day. This might be a dismal amount of oil produced compared to South Americas oil powerhouses such as Brazil and Venezuala. But if as we look at the past statistics of Uruguays oil production, we can see that there has been positive growth. Between years 2007 and 2008 Uruguay exported on a average of 6,000 barrels of oil every year (CIA World Factbook, 2011). This shows that in a estimated 3 year period, Uruguay has been able to increase oil production by almost five fold. Uruguays imports of oil is 47,260 barrels a day and its imports is 1,395. The main issue the country has face in the oil industry is its high trade deficit . Many analysist state the reason Uruaguay has a 46,000 trade deficit is due to its neighboring countries being the main providers of oil in which dramatically the worlds demand for their oil.
Mercosur Agriculture Industry
MECOSUR is one of the the worlds most active regions in food production and and supply. It is one of the worlds of the worlds main reservoirs of natural resources globally. The most cherished assets of the MERCOSUR member nations is food and energy( oil). It is home to large agricultural nd livestock that has played a pivital role in competitive advantage. By this, the farming sector is strongly linked to the international market and the MERCOSURs member countries have agriculture volumes rank among the top countries worldwide; which explain why the region is considered an important food producer.
Argentina Agriculture Industry
Argentina is one of the greatest food producing industries and exporters in the world. It employs about 7 percent of all employment for Argentina and it earns over half of its foreign exchange. Arguably, critics believe this countries sectors to be a major pillar of the Argenitinas economic prosperity. In 2011 about one fourth of the countries total export, which was 86 billion dollars, were composed of agricultural goods. Argentina primarily focus on agriculture goods such as cereal, oil grains and seeds, sugar, fruit, wine, tea, tobacco, and cotton. As of 2010 this country comprises of 67 million acres of arable and cropland. This country is apart of special history due to the fact that Argentina is one of the first 10 countries to produce wheat in the world. Between