Imports in Uruguay
Uruguay - Imports
After the economy remained below its pre-pandemic level last year, growth likely picked up in Q1. Booming agricultural commodity prices led annual export growth to average 35.1% in the quarter. Private consumption probably weathered the Omicron wave well thanks to the country having one of the world’s highest vaccination rates. This said, rising commodity prices increased inflation, limiting spending. Turning to Q2, momentum is being boosted by the relaxation of Covid-19 restrictions in April. In the same month, the government announced tax cuts and increases in public sector pensions and wages to ease rising cost of living pressures. These measures should support consumption but will also widen the fiscal deficit. That said, continued fiscal consolidation is a priority on President Luis Alberto Lacalle Pou’s 2022 policy agenda.
Uruguay - Imports Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Imports (USD billion) | 9.8 | 8.5 | 8.7 | 9.1 | 8.6 |
Uruguay Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 37.33 | 0.24 % | Jan 01 |
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Economic News
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Uruguay: Industrial output growth eases in March
May 12, 2022
Industrial output expanded 5.5% compared to the same month a year earlier in March, which followed February’s 11.5% increase. Meanwhile, annual average industrial production growth rose to 14.5% in January (December: +14.3%), signaling an improving trend in the industrial sector.
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Uruguay: Inflation holds steady in April
May 5, 2022
Consumer prices increased 0.49% from the previous month in April, below the 1.11% increase recorded in March.
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Uruguay: Central Bank delivers another rate hike in April
April 8, 2022
At its 8 April meeting, the Monetary Policy Committee of the Central Bank of Uruguay hiked its monetary policy rate by 125 basis points to 8.50%.
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Uruguay: Inflation continues to rise in March
April 5, 2022
Consumer prices rose 1.11% over the previous month in March, weaker than February's 1.47% jump.
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Uruguay: GDP growth slows in Q4, but remains strong nonetheless
March 23, 2022
The economy expanded 5.9% year-on-year in the fourth quarter, after having increased 6.2% in the third quarter of last year.
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