Economy - overview:
Uruguay's economy is characterized by an export-oriented agricultural sector, a well-educated work force, and high levels of social spending. After averaging growth of 5% annually during 1996-98, in 1999-2002 the economy suffered a major downturn, stemming largely from the spillover effects of the economic problems of its large neighbors, Argentina and Brazil. In 2001-02, Argentine citizens made massive withdrawals of dollars deposited in Uruguayan banks after bank deposits in Argentina were frozen, which led to a plunge in the Uruguayan peso, a banking crisis, and a sharp economic contraction. Real GDP fell in four years by nearly 20%, with 2002 the worst year. The unemployment rate rose, inflation surged, and the burden of external debt doubled. Financial assistance from the IMF helped stem the damage. Uruguay restructured its external debt in 2003 without asking creditors to accept a reduction on the principal. Economic growth for Uruguay resumed, and averaged 8% annually during the period 2004-08. The 2008-09 global financial crisis put a brake on Uruguay's vigorous growth, which decelerated to 2.9% in 2009. Nevertheless, the country managed to avoid a recession and keep positive growth rates, mainly through higher public expenditure and investment, and GDP growth exceeded 7% in 2010.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Investment (gross fixed): Budget: Public debt: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Oil - proved reserves: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
NOTE: The information regarding Uruguay on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Uruguay Economy 2011 information contained here. All suggestions for corrections of any errors about Uruguay Economy 2011 should be addressed to the CIA.
$47.8 billion (2010 est.)
country comparison to the world: 92
note:
data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]
$40.71 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]
7.1% (2010 est.)
country comparison to the world: 19
[see also: GDP - real growth rate country ranks ]
$13,600 (2010 est.)
country comparison to the world: 86
note:
data are in 2010 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 9.3%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
22.8%
[see also: GDP - composition by sector - industry country ranks ]
services:
67.9% (2009 est.)
[see also: GDP - composition by sector - services country ranks ]
1.637 million (2009 est.)
country comparison to the world: 127
[see also: Labor force country ranks ]
agriculture: 9%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
15%
[see also: Labor force - by occupation - industry country ranks ]
services:
76% (2007 est.)
[see also: Labor force - by occupation - services country ranks ]
7.4% (2010 est.)
country comparison to the world: 76
[see also: Unemployment rate country ranks ]
27.4% of households (2006)
[see also: Population below poverty line country ranks ]
lowest 10%: 1.7%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
34.8% (2006)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
45.2 (2006)
country comparison to the world: 41
[see also: Distribution of family income - Gini index country ranks ]
19.4% of GDP (2009 est.)
country comparison to the world: 95
[see also: Investment (gross fixed) country ranks ]
revenues: $11.78 billion
[see also: Budget - revenues country ranks ]
expenditures:
$12.25 billion (2009 est.)
[see also: Budget - expenditures country ranks ]
52.7% of GDP (2010 est.)
country comparison to the world: 47
[see also: Public debt country ranks ]
6.8% (2010 est.)
country comparison to the world: 174
[see also: Inflation rate (consumer prices) country ranks ]
20% (31 December 2009)
country comparison to the world: 11
[see also: Central bank discount rate country ranks ]
15.28% (31 December 2009 est.)
country comparison to the world: 68
[see also: Commercial bank prime lending rate country ranks ]
$3.706 billion (31 December 2010 est)
[see also: Stock of narrow money country ranks ]
$14.22 billion (31 December 2009)
[see also: Stock of broad money country ranks ]
$10.49 billion (31 December 2010 est.)
country comparison to the world: 91
[see also: Stock of domestic credit country ranks ]
$NA (31 December 2008)
country comparison to the world: 112
[see also: Market value of publicly traded shares country ranks ]
rice, wheat, soybeans, barley; livestock, beef; fish; forestry
food processing, electrical machinery, transportation equipment, petroleum products, textiles, chemicals, beverages
16.5% (2009 est.)
country comparison to the world: 3
[see also: Industrial production growth rate country ranks ]
9.265 billion kWh (2007 est.)
country comparison to the world: 94
[see also: Electricity - production country ranks ]
7.14 billion kWh (2007 est.)
country comparison to the world: 97
[see also: Electricity - consumption country ranks ]
996 million kWh (2007 est.)
[see also: Electricity - exports country ranks ]
789 million kWh (2007 est.)
[see also: Electricity - imports country ranks ]
997 bbl/day (2009 est.)
country comparison to the world: 104
[see also: Oil - production country ranks ]
40,000 bbl/day (2009 est.)
country comparison to the world: 104
[see also: Oil - consumption country ranks ]
7,100 bbl/day (2007 est.)
country comparison to the world: 100
[see also: Oil - exports country ranks ]
52,730 bbl/day (2007 est.)
country comparison to the world: 84
[see also: Oil - imports country ranks ]
0 bbl
country comparison to the world: 109
[see also: Oil - proved reserves country ranks ]
0 cu m (2008 est.)
country comparison to the world: 115
[see also: Natural gas - production country ranks ]
70 million cu m (2008 est.)
country comparison to the world: 106
[see also: Natural gas - consumption country ranks ]
0 cu m (2008 est.)
country comparison to the world: 104
[see also: Natural gas - exports country ranks ]
70 million cu m (2008 est.)
country comparison to the world: 68
[see also: Natural gas - imports country ranks ]
0 cu m (1 January 2010 est.)
country comparison to the world: 123
[see also: Natural gas - proved reserves country ranks ]
-$377 million (2010 est.)
country comparison to the world: 108
[see also: Current account balance country ranks ]
$7.413 billion (2010 est.)
country comparison to the world: 97
[see also: Exports country ranks ]
meat, rice, leather products, wool, fish, dairy products
Brazil 21.05%, China 9.45%, Argentina 7.36%, Germany 5.16%, Mexico 4.88%, Netherlands 4.13%, US 3.96% (2009)
$8.519 billion (2010 est.)
country comparison to the world: 96
[see also: Imports country ranks ]
crude petroleum and petroleum products, machinery, chemicals, road vehicles, paper, plastics
Argentina 20.77%, Brazil 17.53%, China 10.23%, US 9.82%, Paraguay 6.87% (2009)
$7.407 billion (31 December 2010 est.)
country comparison to the world: 59
[see also: Reserves of foreign exchange and gold country ranks ]
$13.39 billion (31 December 2010 est.)
country comparison to the world: 81
[see also: Debt - external country ranks ]
$NA (31 December 2010)
[see also: Stock of direct foreign investment - at home country ranks ]
$156 million (2007 est.)
country comparison to the world: 79
[see also: Stock of direct foreign investment - abroad country ranks ]
Uruguayan pesos (UYU) per US dollar - 20.276 (2010), 22.568 (2009), 20.936 (2008), 23.947 (2007), 24.048 (2006)
This page was last modified 09-Feb-11