Economy of Uruguay
Population: 3.45 M (2018)
GDP per Capita: 17,278 USD (2018)
59,600 M.

GDP USD

(2018)

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12,520 M.

EXPORTS USD

(2018)

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11,320 M.

IMPORTS USD

(2018)

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59.93 %

PUBLIC DEBT

(2018)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 1.62 % (2018)
GDP of 2010 USD USD 50.40 B. (2018)
GDP Current USD USD 59.60 B. (2018)
GDP per Capita Current USD USD 17,278 (2018)
GDP per capita, PPP USD 20,916 (2018)
GDP per Capita, 2010 USD USD 14,617 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 14.64 % (2018)
Government Spending USD 8.73 B. (2018)
Government Debt % GDP 59.93 % (2018)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 112.68 (2018)
Trade Openness 39.99 % (2018)
Exports of Goods and Services % GDP 21.00 % (2018)
Exports Goods & Services USD 12.52 B. (2018)
Exports Annual Growth 6.90 % (2017)
Imports as % GDP 18.99 % (2018)
Total Imports USD 11.32 B. (2018)
Foreign Direct Investment % GDP 1.97 % (2018)
Foreign Direct Investment USD 2.70 B. (2018)
Current Account Balance % GDP USD 0.13 % (2018)
Current Account Balance USD 0.08 B. (2018)
Trade Balance % GDP 2.02 % (2018)
Trade Balance USD 3.28 B. (2018)
Foreign Exchange Reserves incl Gold USD 15.56 B. (2018)
Remittances % GDP 0.17 % (2018)
Remittances USD 104 M. (2018)
Balance of Payments USD 1,162 M. (2017)

Labor Market

Indicator Value
Labor Force 1.77 M. (2019)
Unemployment Rate 7.94 % (2019)
Unemployment Rate Females 10.66 % (2019)
Unemployment Rate Males 7.12 % (2019)
Youth Unemployment (ages 15-24) 24.54 % (2019)
Labor Force Participation Rate 64.45 % (2019)
Labor Force (Percent Female) 45.50 % (2019)
Female Labor Force Participation Rate 55.93 % (2019)
Male Labor Force Participation Rate 73.82 % (2019)
Dependent People 54.85 % (2018)

Agriculture Sector

Indicator Value
Forest Area 10.70 % (2016)
Forest Area km² 18,677 km² (2016)
Agricultural Land 82.56 % (2016)
Agricultural Land km² 144,496 km² (2016)
Employment 8.56 % (2019)
Value added % GDP 5.64 % (2018)
Agriculture Value added USD 3.36 B. (2018)
Crop Production Index 155.90 (2016)
Precipitation 1,300 mm (2014)
Arable Land 14 % (2016)
Cereal Yield 4,252 kg/hectare (2017)
Food production index 117 (2016)
Rural Population 5 % (2018)
Fertilizer use of Arable Land 144 kg/hectare (2016)
Livestock Production Index 101 (2016)
Economy of Uruguay

According to the World Bank and its latest published data, the economy of the Uruguay presents a growth rate of 1.62 % (2018) to the previous year.

With a population that reaches 3.45 M (2018) and a gross domestic product of USD 59.60 B. (2018), it translates a Gross Domestic Product per Capita of USD 17,278 placing its inhabitants on the threshold of an High-income country (according to the World Bank's updated classification).

Uruguay also has a workforce of 1.77 M. (2019) with an unemployment rate of 7.94 % (2019), where women represent 10.66 % (2019) and men 7.12 % (2019), the unemployment rate for young people between 15-24 years old stood at 24.54 % (2019). The total number of dependent people stands at 54.85 % (2018).

The central government spent 14.64 % (2018) of its gross domestic product that year, which in absolute terms is USD 8.73 B. (2018). Its consolidated public debt reached 59.93 of its GDP, exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Uruguay exported USD 12.52 B. (2018), which represents 21.00 % (2018) of its gross domestic product, in that same sense its imports reached USD 11.32 B. (2018) with a direct foreign investment of USD 2.70 B. (2018).

Uruguay has a forest area of 18,677 km² (2016), which represents 10.70 % (2016) of its total area, an average rainfall of 1,300 mm (2014) per year and a population of 5 % (2018) living in rural areas. With a total area of 144,496 km² (2016) available for agriculture and 8.56 % (2019) of its employments, the agricultural sector contributes to the economy of the Uruguay about USD 3.36 B. (2018) (5.64 % (2018) of its GDP).