Current Account in Uruguay
Uruguay - Current Account
After GDP expanded year-on-year for the first time since Q3 2019 in the second quarter, growth likely eased notably in the third quarter due to a less favorable base effect. That being said, conditions should have remained upbeat in sequential terms, as the loosening of Covid-19 restrictions likely continued to support household spending, while healthy export growth suggests the external sector remained solid. Turning to Q4, momentum is likely keeping pace as a rapid vaccine rollout and relatively muted new Covid-19 cases in October bode well for domestic activity. In other news, the IMF concluded its Article IV mission in early October, urging authorities to step up their efforts to address structural problems in human capital to facilitate a faster recovery in the labor market, as the pandemic has accentuated the nation’s skills mismatch issue among low-income workers.
Uruguay - Current Account Data
|Current Account (% of GDP)||-0.9||-0.1||0.7||0.1||0.7|
5 years of economic forecasts for more than 30 economic indicators.
Uruguay Current Account Chart
Source: Central Bank of Uruguay and FocusEconomics calculations.
|Exchange Rate||37.33||0.24 %||Jan 01|
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November 5, 2021
Consumer prices increased 1.04% over the previous month in October, which was higher than September's 0.46% rise.
October 13, 2021
Industrial output expanded 14.0% compared to the same month a year earlier in August, which followed July's 18.7% increase.
August 11, 2021
Industrial manufacturing output grew 19.8% in year-on-year terms in June, which was down from May's 22.9% increase.
August 11, 2021
At its 11 August meeting, the Monetary Policy Committee of the Central Bank of Uruguay decided to raise the monetary policy rate by 50 basis points to 5.00%.
August 4, 2021
Consumer prices rose 0.52% from the previous month in July, moderating from June's 0.67% increase.