Browse a full set of economic indicators

Uruguay

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
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

Inflation & Debt

Inflation 2015 8.7%
2016 9.6%
2017 6.2%
2018* 7.6%
2019* 7.6%

*Estimate
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
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

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