Economy - overview:
Uruguay has a free market economy characterized by an export-oriented agricultural sector, a well-educated work force, and high levels of social spending. Following financial difficulties in the late 1990s and early 2000s, economic growth for Uruguay 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 2.6% 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 reached 8.9% in 2010 but slowed in 2012-13, the result of a renewed slowdown in the global economy and in Uruguay's main trade partners and Common Market of the South (Mercosur) counterparts, Argentina and Brazil. Uruguay has sought to expand trade within Mercosur and with non-Mercosur members. Uruguay's total merchandise trade with Mercosur since 2006 has increased by nearly 70% to more than $5 billion while its total trade with the world has almost doubled to roughly $23 billion in 2013.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): Gross national saving: GDP - composition, by end use:
GDP - composition, by sector of origin:
Agriculture - products: Industries: Industrial production growth rate: 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: Budget:
Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Fiscal year: 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: 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:
$56.27 billion (2013 est.)
country comparison to the world: 94
$54.37 billion (2012 est.)
$52.31 billion (2011 est.)
note:
data are in 2013 US dollars
[see also: GDP country ranks ]
$57.11 billion (2013 est.)
[see also: GDP (official exchange rate) country ranks ]
3.5% (2013 est.)
country comparison to the world: 98
3.9% (2012 est.)
6.5% (2011 est.)
[see also: GDP - real growth rate country ranks ]
$16,600 (2013 est.)
country comparison to the world: 80
$16,100 (2012 est.)
$15,500 (2011 est.)
note:
data are in 2013 US dollars
[see also: GDP - per capita country ranks ]
17.3% of GDP (2013 est.)
country comparison to the world: 96
15.8% of GDP (2012 est.)
16.4% of GDP (2011 est.)
[see also: Gross national saving country ranks ]
household consumption:
68.9%
government consumption:
13.6%
investment in fixed capital:
23.1%
investment in inventories:
-0.8%
exports of goods and services:
25.8%
imports of goods and services:
-30.5%
(2013 est.)
agriculture:
7.5%
industry:
21.5%
services:
71% (2013 est.)
soybeans, rice, wheat; beef, dairy products; fish; lumber, cellulose
food processing, electrical machinery, transportation equipment, petroleum products, textiles, chemicals, beverages
6.6% (2013 est.)
country comparison to the world: 39
[see also: Industrial production growth rate country ranks ]
1.7 million (2013 est.)
country comparison to the world: 126
[see also: Labor force country ranks ]
agriculture:
13%
industry:
14%
services:
73% (2010 est.)
6.5% (2013 est.)
country comparison to the world: 67
6% (2012 est.)
[see also: Unemployment rate country ranks ]
18.6% (2010 est.)
[see also: Population below poverty line country ranks ]
lowest 10%:
1.9%
highest 10%:
34.4% (2010 est.)
45.3 (2010)
country comparison to the world: 40
44.8 (1999)
[see also: Distribution of family income - Gini index country ranks ]
revenues:
$17.14 billion
expenditures:
$18.62 billion (2013 est.)
30% of GDP (2013 est.)
country comparison to the world: 92
[see also: Taxes and other revenues country ranks ]
-2.6% of GDP (2013 est.)
country comparison to the world: 109
[see also: Budget surplus (+) or deficit (-) country ranks ]
62.8% of GDP (2013 est.)
country comparison to the world: 45
59.4% of GDP (2012 est.)
note:
data cover general government debt, and include debt instruments issued (or owned) by government entities other than the treasury; the data include treasury debt held by foreign entities; the data include debt issued by subnational entities, as well as intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment; debt instruments for the social funds are not sold at public auctions.
[see also: Public debt country ranks ]
calendar year
8.3% (2013 est.)
country comparison to the world: 197
8.1% (2012 est.)
[see also: Inflation rate (consumer prices) country ranks ]
9% (31 December 2012)
country comparison to the world: 30
8.75% (31 December 2011)
note:
Uruguay's central bank uses the benchmark interest rate, rather than the discount rate, to conduct monetary policy; the rates shown here are the benchmark rates
[see also: Central bank discount rate country ranks ]
11.3% (31 December 2013 est.)
country comparison to the world: 72
11.2% (31 December 2012 est.)
[see also: Commercial bank prime lending rate country ranks ]
$5.312 billion (31 December 2013 est.)
country comparison to the world: 98
$5.32 billion (31 December 2012 est.)
[see also: Stock of narrow money country ranks ]
$8.689 billion (31 December 2013 est.)
country comparison to the world: 108
$8.648 billion (31 December 2012 est.)
[see also: Stock of broad money country ranks ]
$17.66 billion (31 December 2013 est.)
country comparison to the world: 84
$16.86 billion (31 December 2012 est.)
[see also: Stock of domestic credit country ranks ]
$175.4 million (31 December 2012 est.)
country comparison to the world: 107
$174.6 million (31 December 2011)
$156.9 million (31 December 2010 est.)
[see also: Market value of publicly traded shares country ranks ]
-$2.721 billion (2013 est.)
country comparison to the world: 155
-$2.69 billion (2012 est.)
[see also: Current account balance country ranks ]
$10.5 billion (2013 est.)
country comparison to the world: 92
$9.89 billion (2012 est.)
[see also: Exports country ranks ]
beef, soybeans, cellulose, rice, wheat, wood, dairy products; wool
Brazil 18.6%, China 17.9%, Argentina 6.2%, Germany 4.3% (2012)
$12.5 billion (2013 est.)
country comparison to the world: 91
$12.26 billion (2012 est.)
[see also: Imports country ranks ]
refined oil, crude oil, passenger and other transportation vehicles, vehicle parts, cellular phones
China 16.4%, Brazil 14.9%, Argentina 14.6%, US 9.1%, Paraguay 7.3% (2012)
$16.32 billion (31 December 2013 est.)
country comparison to the world: 65
$13.6 billion (31 December 2012 est.)
[see also: Reserves of foreign exchange and gold country ranks ]
$17.61 billion (31 December 2013 est.)
country comparison to the world: 84
$16.02 billion (31 December 2012 est.)
[see also: Debt - external country ranks ]
$20.69 billion (31 December 2013 est.)
country comparison to the world: 72
$17.76 billion (31 December 2012 est.)
[see also: Stock of direct foreign investment - at home country ranks ]
$422 million (31 December 2013 est.)
country comparison to the world: 80
$357 million (31 December 2012 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]
Uruguayan pesos (UYU) per US dollar -
20.58 (2013 est.)
20.311 (2012 est.)
20.059 (2010 est.)
22.568 (2009)
20.936 (2008)