Industry in Uruguay
Uruguay - Industry
Industrial production growth hits fresh five-year high in May
Industrial production growth continued to accelerate in May, coming in at 23.1% year-on-year, up from April’s 22.7%. This marked the strongest reading since January 2013 and was supported by the booming automotive industry. As in April, the reading partly reflected a base effect due to a double-digit contraction in industrial production in May 2017. Meanwhile, the annual average change in industrial output, including the contribution of La Teja refinery, continued to improve, from minus 5.3% in April to minus 2.2% in May.
Industrial production excluding the contribution of the La Teja refinery, the country’s only oil refinery and a key contributor to overall industrial production, rose 0.7% year-on-year in May. This marked the first expansion in six months, pointing to a moderate recovery in the non-oil sector.
Panelists surveyed for this month’s LatinFocus report expect industrial production to increase 6.9% in 2018, which is down 0.7 percentage points from last month’s forecast. For 2019, the panel sees industrial output growth moderating to 3.4%.
Uruguay - Industry Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Industrial Production (annual variation in %) | 4.1 | 1.1 | 3.1 | 0.3 | -11.1 |
Uruguay Industry Chart
Source: Central Bank of Uruguay and FocusEconomics calculations.
Uruguay Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 31.33 | 0.24 % | Aug 15 |
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Economic News
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August 3, 2018
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At its 13 July monetary policy committee meeting, the Central Bank of Uruguay left its inflation target range for the next 24 months unchanged at 3.0%–7.0%.
Uruguay: Industrial production growth hits fresh five-year high in May
July 12, 2018
Industrial production growth continued to accelerate in May, coming in at 23.1% year-on-year, up from April’s 22.7%.
Uruguay: Inflation rises in June
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Consumer prices rose 1.0% from the previous month in June, edging up from May’s 0.8% increase and marking the highest reading in 17 months.
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June 18, 2018
The economy kicked off the year on stronger footing, with year-on-year growth accelerating from the previous quarter’s 2.0% to 2.2% in the first quarter of 2018, according to data released by the Central Bank on 18 June.
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