Includes Uruguay real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Uruguay economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Uruguay best banks and safest banks are also available.
Basic Information
Government Type: Presidential republic
Capital City: Montevideo
GDP & Economic Information
Macroeconomy & Sovereign Data
Central Bank | Central Bank of Uruguay |
---|---|
Currency | Uruguayan pesos (UYU) |
International Reserves |
USD 15.6 billion (2018) International Monetary Fund (IMF), data retrieved October 2019 |
Gross Domestic Product – GDP | USD 60.2 billion (2018, estimate) |
GDP (Purchasing Power Parity) | Intl$ 81.6 billion (2018, estimate) |
GDP Data
Real GDP growth |
2007 6.5% 2008 7.2% 2009 4.2% 2010 7.8% 2011 5.2% 2012 3.5% 2013 4.6% 2014 3.2% 2015 0.4% 2016 1.7% 2017 2.7% 2018 2.1% *Estimate |
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GDP per capita – current prices | USD 17,164.9 (2018, estimate) |
GDP per capita – PPP | Intl$ 23,274.1 (2018, estimate) |
GDP (PPP) – share of world total |
1980 0.10% 1990 0.08% 2000 0.07% 2010 0.06% 2019* 0.06% |
GDP – composition by sector |
agriculture: 5.6% industry: 24.5% services: 60.8% (2018 estimate) |
Gross domestic expenditure on R&D; (% of GDP) | N/A |
Inflation |
2015 8.7% 2016 9.6% 2017 6.2% 2018* 7.6% 2019* 7.6% *Estimate |
Uruguay
Inflation & Debt
Inflation |
2015 8.7% 2016 9.6% 2017 6.2% 2018* 7.6% 2019* 7.6% *Estimate |
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Government Bond Ratings |
Standard & Poor’s: BBB Moody’s: Baa2 Standard & Poor’s / Moody’s |
Unemployment rate |
2015 7.5% 2016 7.9% 2017 7.9% 2018* 8.4% 2019* 8.6% *Estimate |
Household saving rates | N/A |
Public debt (General government gross debt as a % of GDP) |
2015 62.9% 2016 61.4% 2017 60.7% 2018* 63.5% 2019* 64.1% *Estimate |
Public deficit (General government net lending/borrowing as a % of GDP) |
2015 -2.2% 2016 -3.1% 2017 -2.7% 2018* -2% 2019* -2.8% *Estimate |
Market value of publicly traded shares |
2016 N/A 2017 N/A 2018 N/A |
Largest Companies | N/A |
Import/Export
Exports as percent of GDP (Exports of goods and services) |
5.9% (2017) |
---|---|
Shares in world total merchandising export |
0.004% (2018) |
Shares in world total commercial services export |
0.008% (2018) |
Total exports |
USD 1.6 billion (2018 estimate) |
Export commodities |
Opium, fruits and nuts, handwoven carpets, wool, cotton, hides and pelts, precious and semi-precious gems, and medical herbs |
Total imports |
USD 8.3 billion (2018 estimate) |
Import commodities |
Machinery and other capital goods, food, textiles, petroleum products |
Exports – major partners |
India 56.5%, Pakistan 29.6% (2017) |
Imports – major partners |
China 21%, Iran 20.5%, Pakistan 11.8%, Kazakhstan 11%, Uzbekistan 6.8%, Malaysia 5.3%(2017) |
Competitiveness & Trade
Current account balance |
USD -0.4 billion (2018 estimate) |
---|---|
Current account balance by percentage of GDP | -0.6 % (2018 estimate) |
FDI inflows |
2016 USD -1,181 million 2017 USD -911 million 2018 USD -626 million |
FDI Outflows |
2016 USD -63 million 2017 USD 1,294 million 2018 USD 273 million |
Value of cross-border M&A, by country of purchaser |
2015 N/A 2016 USD 5.6 million 2017 N/A 2018 N/A |
Cross-border M&A deals worth over $3 billion completed in 2014 | N/A |
Cross-border M&A deals worth over $3 billion completed in 2015 | N/A |
Best countries for doing business |
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Overall ranking: 101 out of 190 countries Subcategories: Starting a Business: 66 out of 190 countries Dealing with Construction Permits: 151 out of 190 countries Getting Electricity: 65 out of 190 countries Registering Property: 119 out of 190 countries Getting Credit: 80 out of 190 countries Protecting Minority Investors: 153 out of 190 countries Paying Taxes: 103 out of 190 countries Trading across Borders: 150 out of 190 countries Enforcing Contracts: 104 out of 190 countries Resolving Insolvency: 70 out of 190 countries |
Global competitiveness ranking |
54 out of 141 countries (2019) |
Index of Economic Freedom |
Ranking: 40 / Score: 68.6 (Moderately free) (100=totally free 0=totally repressed) |
Population & Geographic Data
Total Area |
176,215 sq km |
---|---|
Total Population |
1990 3.12 Million 2000 3.35 Million 2010 3.4 Million 2015 3.47 Million 2020 3.53 Million |
Urban population as % of total population |
1960 80.2% 1980 85.4% 2000 92% 2018 95.3% |
Population median age | 35.1 years |
Population growth rate |
0.27% (2018 estimate) |
Life expectancy |
Total population: 98.6% Male: 98.2% Female: 99% Definition: age 15 and over can read and write (2017 est.) |
% of population living on less than $3.10 a day | 0.4% (last available estimate, 2017) |
Inequality of wealth distribution (Gini index) |
39.5 (last available estimate, 2017) (0=perfect equality, 100=absolute inequality) |
Freedom House rating |
Free Political Rights: 1 Civil Liberties: 1 (2019) (1 represents the most free, 7 the least free rating) |
Total telephone subscribers as % of population |
Fixed: 33.4% Mobile: 149.9% (2018) (fixed-telephone subscribers and mobile-cellular subscribers) |
Internet users as % of total population | 68.28 % (2017) |
Language & Religon
Languages | Spanish (official) |
---|---|
Literacy |
Total population: 98.6% Male: 98.2% Female: 99% Definition: age 15 and over can read and write (2017 est.) |
Religions | Roman Catholic 47.1%, non-Catholic Christians 11.1%, nondenominational 23.2%, Jewish 0.3%, atheist or agnostic 17.2%, other 1.1% (2006 est.) |
World Rankings
Population | 3.53 million |
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Mercer Cost of living index | N/A |
C02 Emissions per capita |
1.98 metric tons per capita (2014) |
Global Finance Rankings & Awards: Uruguay
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
Data Sources:
IMF World Economic Outlook
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000