GDP in Uruguay

Uruguay GDP | Economic News & Forecasts

Uruguay - GDP

GDP growth slows in Q4, but remains strong nonetheless

The economy expanded 5.9% year-on-year in the fourth quarter, after having increased 6.2% in the third quarter of last year. A fading base effect was primarily behind the slowdown, as output continued to increase swiftly in sequential terms.

Household spending growth rose to 4.5% in Q4 (Q3: +2.3% yoy), while fixed investment growth moderated to 9.8% (Q3: +19.0% yoy). Moreover, government consumption growth decelerated to 6.0% in the fourth quarter (Q3: +9.4% yoy).

On the external front, exports of goods and services rose 26.3% year-on-year in Q4 (Q3: +24.8% yoy), and imports of goods and services increased 25.5% (Q3: +28.0% yoy).

FocusEconomics Consensus Forecast panelists see GDP growing 3.3% in 2022, which is up 0.1 percentage points from last month’s forecast. In 2023, the panel sees GDP expanding 2.6%.

Uruguay - GDP Data

2015   2016   2017   2018   2019  
Economic Growth (GDP, annual variation in %)0.4  1.7  2.6  1.6  0.2  

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Uruguay GDP Chart


Uruguay GDP
Note: Annual variation of gross domestic product (GDP) in %.
Source: Central Bank of Uruguay and FocusEconomics calculations.

Uruguay Facts

Value Change Date
Exchange Rate37.330.24 %Jan 01

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