Uruguay Industry April 2021


Uruguay: Industrial output expands at fastest clip in over eight years in April

June 11, 2021

Industrial production surged in April, growing 24.5% on an annual basis (March: +3.7% year-on-year). The print marked the best reading since January 2013, albeit it was largely driven by a favorable base effect. Looking at the details of the release, the manufacture of food products, pharmaceutical products as well as rubber and plastic products all expanded strongly. For its part, industrial production excluding refinery output increased 25.3%, picking up from March’s 4.3% rise.

Moreover, the trend improved, with annual average variation of industrial production coming in at minus 2.4%, up from March’s minus 5.3%.

FocusEconomics panelists project industrial production to grow 3.7% in 2021, which is down 0.5 percentage points from last month’s forecast. For 2022, the panel sees industrial output growth at 3.1%.

Author:, Economist

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Uruguay Industry Chart

Uruguay Industry April 2021 0

Note: Year-on-year changes and annual average variation of industrial production in %.
Source: National Statistical Institute (INE) and FocusEconomics calculations.

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