GDP Annual Growth Rate in Uruguay averaged 2.15 percent from 1998 until 2020, reaching an all time high of 10.50 percent in the second quarter of 2010 and a record low of … The data reached an all-time high of 10.5 % in Jun 2010 and a record low of -12.5 % in Jun 2020. Uruguay is home to an estimated 3.51 million people, of whom 1.8 million live in the metropolitan area of its capital and largest city, Montevideo. In the last decade, Uruguay has been one of the fastest growing economies in Latin America. The average value for Uruguay during that period was 2.47 percent with a minimum of -9.34 percent in 1982 and a maximum of 8.86 percent in 1986. Publish your articles and forecasts in our website. Though Uruguay real GDP growth fluctuated substantially in recent years, it tended to decrease through 2001 - 2020 period ending at -4.5 % in 2020. Transition graphs on "Gross domestic product (real GDP) growth rate (annualized)" in Uruguay and comparison bar charts (USA vs. China vs. Japan vs. Uruguay), (Georgia vs. Bosnia vs. Herzegovina vs. Uruguay) are used for easy understanding. GDP growth rate (2017) Nominal (current) Gross Domestic Product (GDP) of Uruguay is $56,156,972,158 (USD) as of 2017. In 2019, Uruguay's real gross domestic product grew by around 0.22 percent compared to the previous year. Nevertheless, the country avoided a recession and kept growth rates positive, mainly through higher public expenditure and investment; GDP growth reached 8.9% in 2010 but slowed markedly in the 2012-16 period as a result of a renewed slowdown in the global economy and in Uruguay's main trade partners and Mercosur counterparts, Argentina and Brazil. The latest value from 2021 is 5 percent. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). GDP Growth Rate in 2017 was 2.66%, representing a change of 1,284,850,522 US$ over 2016, when Real GDP was $48,362,932,954. Gross domestic product (GDP) denotes the aggregate value of all services and goods produced within a country in any given year. Household and capital spending are seen bouncing back, while exports should be supported by recovering demand from key trading partners. Current Uruguay GDP Growth Rate is 1.45%. However, this apparent stability hides some important shifts. Uruguay's annual GDP growth was 2.08% per year in 2016. Uruguay GDP (Gross Domestic Product) was INT$70.51billion for 2019 in PPP terms. After the 2002 crisis, the country has returned to high growth rates, expanding on average 1.3 percent from 2005 to 2012 on a quarter over quarter basis. Uruguay's current Ease of Doing Business Rank is 19th in the world. Country Report 2017 - Includes Uruguay real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector. Uruguay - GDP growth (annual %) The value for GDP growth (annual %) in Uruguay was 1.62 as of 2018. Real GDP (constant, inflation adjusted) of Uruguay reached $49,647,783,476 in 2017. Uruguay Economic Growth Following this year’s projected contraction due to the Covid-19 shock, the economy is set to rebound in 2021. Uruguay economic growth for 2018 was $59.60B, a 0.11% increase from 2017. For comparison, the world average in 2021 based on 188 countries is 5.36 percent. Direct access to our calendar releases and historical data. World … Uruguay’s economic growth has remained positive even in 2017 and 2018, in spite of recessions experienced by Argentina and Brazil, thus departing from previous patterns when growth was synchronized with that of its main neighbors. With an area of approximately 176,000 squ… Annual percentage growth rate of GDP at market prices based on constant local currency. Uruguay has an export-oriented agricultural sector. Uruguay gdp growth rate for 2019 was 0.22%, a 1.4% decline from 2018. Annual percentage growth rate of GDP at market prices based on constant local currency. If you continue to navigate this website beyond this page, cookies will be placed on your browser. Nevertheless, in order to keep the current pace of growth the country needs to diversify its economy and reduce the debt burden. We expect the economy will recover to 2019 levels in 2022, led by fixed investment in large construction and infrastructure projects and robust export growth for its agricultural goods. Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Uruguay economic outlook, debt to GDP ratio, international trade performance and population trends. After the 2002 crisis, the country has returned to high growth rates, expanding on average 1.3 percent from 2005 to 2012 on a quarter over quarter basis. The opposition and unions are seeking to overturn large parts of government's keystone pro-market reforms through a referendum 2021. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. The latest comprehensive information for - Uruguay GDP Annual Growth Rate - including latest news, historical data table, charts and more. Throughout Uruguay's history, their strongest exporting industries have been beef and wool. The percentage change in GDP per capita for the latest 5 years for which data is published. Real GDP Growth YoY data in Uruguay is updated quarterly, available from Mar 1998 to Sep 2020, with an average rate of 3.2 %. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. Uruguay economic growth for 2017 was $59.53B, a 12.99% increase from 2016. The Trading Economics Application Programming Interface (API) provides direct access to our data. Find Out, Online tool for visualization and analysis. Uruguay , officially the Oriental Republic of Uruguay (Spanish: República Oriental del Uruguay), is a country in the southeastern region of South America. Uruguay GDP Growth Rate chart, historic, and current data. Uruguay’s growth has been mean-reverting. In the case of wool exports, they have not been doing so well in recent years suffering from other competitors in the market like New Zealand and the fluctuations of its demand during the 2008/09 recession in the developed world. Uruguay's recent economic history can be divided into two starkly contrasting periods. GDP is an important indicator … Uruguay - GDP GDP contracts at softer pace in Q3. Expanding livestock exports--principally beef, mutton, and wool--accounted for this economic growth. Uruguay: Economic growth forecast: For that indicator, we provide data for Uruguay from 1980 to 2021. The OECD Interim Economic Outlook provides analysis and GDP growth forecasts for all G20 countries and the world economy as a whole. Economic Trivia: Uruguay was the only country in the Americas that managed to avoid a recession during the global financial crisis of 2008-2009. In the case of beef exports, they have been boosted since Uruguay joined the Mercosur agreement in 1991 and the country has been able to reach more distant markets, such as Japan. Uruguay gdp growth … (see Data FAQs) Source: IMF World Economic Outlook Database. World Bank national accounts data, and OECD National Accounts data files. Trade Source: United Nations ... GDP Growth Rate (annual %) 0.222% (2019) GDP Per Capita, PPP (current international) $22,515 (2019) Its total investment rate was 19.91% of GDP in 2016. Though Uruguay GDP growth fluctuated substantially in recent years, it tended to increase through 1970 - 2019 period ending at 0.2 % in 2019. During the first, from the late 1800s until the 1950s, Uruguay achieved remarkable growth and a high standard of living. As the graph below shows, over the past 57 years this indicator reached a maximum value of 8.81 in 1986 and a minimum value of -10.27 in 1983. In 2019, GDP growth for Uruguay was 0.2 %. CEIC calculates quarterly Real GDP Growth from quarterly Real GDP Index. Since 2003, the Uruguayan economy has had positive economic growth rates, averaging 4,1% from 2003 to 2018. Despite its precarious beginnings, Uruguay’s per capita gross domestic product (GDP) growth from 1870 to 2002 shows an amazing persistence, with the long-run rate averaging around one percent per year. Uruguay’s economic freedom score is 69.3, making its economy the 44th freest in the 2021 Index. The figure, however, represented a slowdown compared to the 2.6 percent economic growth registered in 2017, and was below the government's projection of a growth of the gross domestic product (GDP) between 2.0 … International Comparison Program & Purchasing Power Parity, International Household Survey Network (IHSN), Trust Fund for Statistical Capacity Building. 1997-2020 Data | 2021-2023 Forecast | Historical | Chart. As shown in Figure 1, both GDP and population grew much faster before the 1930s; from 1930 to 1960 immigration vanished and population grew much more slowly, while decades of GDP stagnation and fast growth alternated; after the 1960s U… MONTEVIDEO, March 28 (Xinhua) -- The Uruguayan economy grew 1.6 percent in 2018, driven by the growth of telecommunications, the Central Bank of Uruguay reported Thursday. According to rebased national accounts data released by the Central Bank on 17 December, with the new base year referring to 2016 prices, GDP dropped at a milder rate of 5.9% year-on-year in the third quarter, above the 12.5% contraction seen in … GDP growth (annual %) - Uruguay. Uruguay: Growth rate of the real gross domestic product (GDP) from 2015 … The best source for Uruguay house price statistics is the Instituto Nacional de Estadistica (INE). In 2020, real GDP growth for Uruguay was -4.5 %. Two main characteristics —a solid social contract and economic openness— paved the way to the reduction in poverty and the promotion of shared prosperity that Uruguay successfully followed in the last decade. Uruguay economic growth for 2016 was $52.69B, a 1.1% decline from 2015. Uruguay's "Gross domestic product (real GDP) growth rate (annualized)" is 0.22% which is the 161st highest in the world ranking. Shipments of meat, vegetables, rice and dairy products account for 52 percent of total exports. 2021 Projected Real GDP (% Change) : 4.3; 2021 Projected Consumer Prices (% Change): 8.2; Country Population: 3.531 million; Date of Membership: March 11, 1946; Article IV/Country Report: February 21, … GDP Growth Rate in Uruguay averaged 0.58 percent from 1997 until 2020, reaching an all time high of 9.60 percent in the second quarter of 1997 and a record low of -10.40 percent in the second quarter of 2020. Its overall score has increased by 0.2 point, primarily because of an improvement in fiscal health. It borders Argentina to its west and southwest and Brazil to its north and northeast, with the Río de la Plata (Silver River) to the south and the Atlantic Ocean to the southeast. Download historical data for 20 million indicators using your browser. At the … World Bank national accounts data, and OECD National Accounts data files. Published in March and September, these Interim reports provide updates to the projections, analysis and policy recommendations contained in the main Economic Outlooks released in May/June and November/December. An augmented Dickey-Fuller test applied to the annual GDP growth series of Uruguay strongly rejects the null{{i.e., the series contains a unit root{{at 1 percent level.1 The stationarity of the growth series suggests that extraordinarily low values in the se-ries tend to be followed by the op-posite. Uruguay Coronavirus Cases at 67717.00 Persons, Uruguay Coronavirus Deaths at 683.00 Persons, Uruguay Coronavirus Recovered at 57773.00 Persons, Uruguay Balance of Trade at -32175.00 USD Thousand, Uruguay Capital Flows at 399.80 USD Million, Uruguay Central Bank Balance Sheet at 117974.00 UYU Million, Uruguay Changes in Inventories at 7134243.16 UYU THO, Uruguay Competitiveness Index at 63.47 Points, Dominican Republic Inflation Rate Over 9-Year High, South African Stocks End Lower, Post Weekly Loss, Spanish Stocks Hit New 1-Year High, Book Weekly Gain. To learn more about cookies, click here. Uruguay: GDP/cap growth, 5 years (%). This site uses cookies to optimize functionality and give you the best possible experience. Inflation was 0.10, as of 2016.
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