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
-0.6 % (2018 estimate)
Exports as percent of GDP (Exports of goods and services)
21% (2018)
Shares in world total merchandising export
0.04% (2018)
Shares in world total commercial services export
0.08% (2018)
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 19%, Brazil 16.1%, US 5.7%, Argentina 5.4% (2017)
Imports - major partners
China 20%, Brazil 19.5%, Argentina 12.6%, US 10.9% (2017)
FDI inflows
| 2016 | 2017 | 2018 |
| USD -1,181 million | USD -911 million | USD -626 million |
FDI outflows
| 2016 | 2017 | 2018 |
| USD -63 million | USD 1,294 million | USD 273 million |
Value of cross-border M&A, by country of purchaser
| 2015 | 2016 | 2017 | 2018 |
| N/A | USD 5.6 million | N/A | 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:
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
Source
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)
Source
Source
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.)
Total population
| 1990 | 2000 | 2010 | 2015* | 2020* |
| 3.12 million | 3.35 million | 3.4 million | 3.47 million | 3.53 million |
*Estimate
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2018 |
| 80.2% | 85.4% | 92% | 95.3% |
Literacy
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)
Source
Freedom House rating
Free
Political Rights: 1
Civil Liberties: 1 (2019)
(1 represents the most free, 7 the least free rating)
Source
Total telephone subscribers as % of population
Fixed: 33.4%
Mobile: 149.9%
(2018)
(fixed-telephone subscribers and mobile-cellular subscribers)