Current Account in Uruguay

Uruguay Current Account | Economic News & Forecasts

Uruguay - Current Account

The economic situation remained dire in the second quarter following the first-quarter downturn, haunted by frail external conditions and faltering domestic demand. Unemployment jumped to an over one-decade high in Q2, signaling a sustained downturn in household consumption, while a weaker peso boded ill for investment. Meanwhile, the country is gearing up for a presidential election due on 27 October, with early polls suggesting a tightly contested race between the Broad Front Party’s Daniel Martínez and the National Party’s Luis Lacalle Pou. Against this backdrop, on 6 August, Moody’s affirmed Uruguay’s Baa2 credit rating with a stable outlook, citing low political risk thanks to the country’s mature and consensus-building political system. That said, Moody’s noted that gradually eroding fiscal strength and a structural decline in growth potential could dampen the outlook in the near future.

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 Rate36.720.24 %Sep 04

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