Escaping Global Turmoil: Q&A With Uruguay Central Bank President Alberto Grana
Alberto Grana, president of the Central Bank of Uruguay, discusses how the country is ensuring its long-term economic growth in the face of external pressures.
Uruguay GDP and Economic Data
Country Report 2017 - 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.
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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)
Real GDP growth
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 |
| 6.5% | 7.2% | 4.2% | 7.8% | 5.2% | 3.5% | 4.6% |
| 2014 | 2015 | 2016 | 2017* | 2018* | ||
| 3.2% | 0.4% | 1.7% | 2.7% | 2.1% |
*Estimate
GDP per capita - current prices
USD 17,164.9 (2018, estimate)
GDP (PPP) - share of world total
| 1980 | 1990 | 2000 | 2010 | 2019* |
| 0.10% | 0.08% | 0.07% | 0.06% | 0.06% |
*Estimate
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GDP - composition by sector
- agriculture: 5.6%
- industry: 24.5%
- services: 60.8%
(2018 estimate)
Inflation
| 2015 | 2016 | 2017 | 2018* | 2019* |
| 8.7% | 9.6% | 6.2% | 7.6% | 7.6% |
*Estimate
Unemployment rate
| 2015 | 2016 | 2017 | 2018* | 2019* |
| 7.5% | 7.9% | 7.9% | 8.4% | 8.6% |
*Estimate
Public debt (General government gross debt as a % of GDP)
| 2015 | 2016 | 2017 | 2018* | 2019* |
| 62.9% | 61.4% | 60.7% | 63.5% | 64.1% |
*Estimate
Public deficit (General government net lending/borrowing as a % of GDP)
| 2015 | 2016 | 2017 | 2018* | 2019* |
| -2.2% | -3.1% | -2.7% | -2% | -2.8% |
*Estimate
Government bond ratings
Standard & Poor's: BBB
Moody's: Baa2
Standard & Poor's / Moody's
Source
Market value of publicly traded shares
| 2016 | 2017 | 2018 |
| N/A | N/A | N/A |
Source
Current account balance by percentage of GDP
-3.1% (2017 estimate)
Exports as percent of GDP (Exports of goods and services)
22.3% (2015)
Shares in world total merchandising export
0.05% (2015)
Shares in world total commercial services export
0.06% (2015)
Export commodities
Beef, soybeans, cellulose, rice, wheat, wood, dairy products; wool
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Import commodities
Refined oil, crude oil, passenger and other transportation vehicles, vehicle parts, cellular phones
Exports - major partners
China 15%, Brazil 14.4%, US 6.5%, Argentina 4.9% (2015)
Imports - major partners
Brazil 18.2%, China 17.4%, Argentina 12.6%, US 9.1%, Germany 4.5%, Nigeria 4.1% (2015)
FDI inflows
| 2013 | 2014 | 2015 |
| USD 3,032 million | USD 2,188 million | USD 1,647 million |
FDI outflows
| 2013 | 2014 | 2015 |
| USD 5.3 million | USD 39.2 million | USD 33.4 million |
Value of cross-border M&A, by country of purchaser
| 2012 | 2013 | 2014 | 2015 |
| USD 0.4 million | USD 21.6 million | USD 6.4 million | N/A |
Cross-border M&A deals worth over $3 billion completed in 2014
N/A
(for a monthly update on M&A; click here )
Cross-border M&A deals worth over $3 billion completed in 2015
N/A
(for a monthly update on M&A; click here )
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: 90 out of 190 countries (2017)
Subcategories:
Starting a business: 60 out of 190 countries
Enforcing Contracts: 111 out of 190 countries
Registering Property: 110 out of 190 countries
Getting Credit: 62 out of 190 countries
Protecting Minority Investors: 123 out of 190 countries
Trading Across Borders: 146 out of 190 countries
Paying Taxes: 113 out of 190 countries
Dealing with Construction Permits: 163 out of 190 countries
Getting Electricity: 43 out of 190 countries
Resolving Insolvency: 61 out of 190 countries
Source
Global competitiveness ranking
73 out of 138 countries
(2016-2017)
Index of Economic Freedom
Ranking: 41 / Score: 68.75 (Moderately free) (2016)
(100=totally free 0=totally repressed)
Source
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Languages
Spanish (official), Portunol, Brazilero (Portuguese-Spanish mix on the Brazilian frontier)
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)
Total population
| 1990 | 2000 | 2010 | 2016* | 2021* |
| 3.094 million | 3.301 million | 3.357 million | 3.427 million | 3.482 million |
*Estimate
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2015 |
| 80% | 85% | 92% | 95% |
Literacy
Total population: 98.5%
Male: 98.2%
Female: 98.8% (2015 est.)
(age 15 and over can read and write)
% of population living on less than $3.10 a day
0.3% (2014 estimate)
Inequality of wealth distribution (Gini index)
41.6 (2014)
(0=perfect equality, 100=absolute inequality)
Source
Freedom House rating
Political Rights: 1
Civil Liberties: 1 (2017)
(1 represents the most free, 7 the least free rating)
Source
Total telephone subscribers as % of population
Fixed 32.26% Mobile 160.21% (2015)
(fixed-telephone subscribers and mobile-cellular subscribers)