Current Account in Uruguay

Uruguay Current Account | Economic News & Forecasts

Uruguay - Current Account

The economy contracted for the first time in nearly four years in the first quarter. Slower wage growth, rising unemployment and a weaker peso caused private consumption to contract once again, which, coupled with sliding fixed investment due to tumbling private sector activity, led a downturn in domestic demand. On the external front, feeble demand from Argentina and Brazil, the country’s key trading partners, caused exports to slump for a fifth consecutive quarter, while the tourism sector remained in the doldrums. In the political arena, Uruguay held presidential primaries on 30 June. The opposition National Party and its leader Luis Lacalle Pou won decisively, beating the ruling Broad Front coalition and its candidate Daniel Martínez. The Colorado Party, headed by Ernesto Talvi, trailed in third place. The results signal the 27 October presidential elections will be a closely fought contest.

Uruguay - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)-3.6  -3.1  -0.9  0.6  0.8  

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Uruguay Current Account Chart

Uruguay Current Account
Note: Current account balance as % of GDP.
Source: Central Bank of Uruguay and FocusEconomics calculations.

Uruguay Facts

Exchange Rate35.110.24 %Jul 11

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