Skyline at night in Uruguay

Uruguay

Uruguay

Manufacturing Production in Uruguay

The economy recorded an average growth rate of 1.7% in manufacturing in the decade up to 2022. In 2022, manufacturing growth was 3.6%, which contrasts with the 12.3% reading of the prior year.

Uruguay Manufacturing Production Chart

Note: This chart displays Manufacturing Production (ann. var. %) for Uruguay from 2014 to 2023.
Source: National Statistical Institute Uruguay.

Uruguay Manufacturing Production Data

2018 2019 2020 2021 2022
Manufacturing Production (ann. var. %) 10.8 -1.6 -5.2 12.3 3.6

Manufacturing production rebounds in April

Manufacturing production grew 6.1% year on year in April (March: -16.7% yoy). Looking at the details of the release, April's turnaround was broad-based, with rebounds noted in food production and output of chemical substances and products. That said, beverage output contracted at a steeper clip in April. As a result, the trend improved significantly, with the annual average variation of manufacturing production coming in at minus 0.5%, up from March's minus 1.2%.

Consensus Forecasts and Projections for the next ten years

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Uruguayan projections for the next ten years from a panel of 4 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable forecast available for Uruguayan .

Download one of our sample reports to visualize what a Consensus Forecast is and see our Uruguayan projections.

Want to get access to the full dataset of Uruguayan forecasts? Send an email to info@focus-economics.com.

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