Current Account in Uruguay
Uruguay - Current AccountOn 28 November, Luis Lacalle Pou, opposition leader of the conservative National Party, was confirmed winner of the 24 November presidential election by the Electoral Court. While razor-thin, Lacalle Pou’s victory marks a significant shift in the political landscape following 15 years of rule by the left-leaning Broad Front coalition led by Daniel Martínez. On the economic front, market-friendly Lacalle Pou is set to frontload fiscal consolidation efforts next year in contrast to Martínez’s gradual fiscal tightening strategy. Meanwhile, available data for the third quarter points to improving activity. Export growth soared in the quarter on a surge in overseas sales of soybean, livestock and other agricultural products, underpinned by higher shipments to China. Moreover, industrial production rebounded in the quarter. On the downside, private consumption likely remained downbeat, given the pick-up in price pressures in the quarter and a rise in the unemployment rate.
Uruguay - Current Account Data
|Current Account (% of GDP)||-3.6||-3.1||-0.9||0.6||0.8|
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|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
January 14, 2020
Consumer prices were flat from a month earlier in December, down from November’s 0.4% increase.
January 13, 2020
Industrial production dropped 1.8% in annual terms in November, a softer contraction than October’s 7.9% plunge.
December 26, 2019
At its 26 December monetary policy meeting, the Central Bank of Uruguay lowered its target for the growth rate of the M1+ money supply in Q1 2020 to 6.0%–8.0%, from the previous quarter’s target of 7.0%–9.0%.
December 20, 2019
The economy rose 0.9% year-on-year in the third quarter, following a flat reading in the second quarter.
November 11, 2019
Industrial production rose 4.3% in annual terms in September, accelerating slightly from August’s 4.1% increase and marking the strongest increase since October 2018.