Editing Economy of Uruguay

{{Short description|none}}
{{Use American English|date=March 2017}}
{{Infobox economy
| country = Uruguay
| image = World Trade Center Montevideo.jpg
| image_size = 310px
| caption = World Trade Center Montevideo
| currency = [[Uruguayan peso]] (UYU, $U)
| fixed exchange = 
| year = [[Calendar year]]
| organs = [[World Trade Organization|WTO]], [[Latin American Integration Association|ALADI]], [[Mercosur]], [[Andean Community]] (associate)
| group = {{plainlist|
*[[Developing country|Developing/Emerging]]<ref>{{cite web |url= https://www.imf.org/external/pubs/ft/weo/2019/01/weodata/weoselco.aspx?g=2200&sg=All+countries+%2f+Emerging+market+and+developing+economies |title=World Economic Outlook Database, April 2019 |publisher=[[International Monetary Fund]] |website=IMF.org |access-date=29 September 2019}}</ref>
*[[World Bank high-income economy|High-income economy]]<ref>{{cite web |url= https://datahelpdesk.worldbank.org/knowledgebase/articles/906519-world-bank-country-and-lending-groups |title=World Bank Country and Lending Groups |publisher=[[World Bank]] |website= datahelpdesk.worldbank.org |access-date=29 September 2019}}</ref>}}
| population = {{DecreaseNeutral}} 3,444,263 (2023)<ref name="Uruguay Presidencia">{{Cite web |title=Población en Uruguay aumentó 1%: se contabiliza en 3.444.263 habitantes |url=https://www.gub.uy/presidencia/comunicacion/noticias/poblacion-uruguay-aumento-1-se-contabiliza-3444263-habitantes |access-date=2024-07-15 |website=Uruguay Presidencia |language=es |archive-date=28 November 2023 |archive-url=https://web.archive.org/web/20231128035627/https://www.gub.uy/presidencia/comunicacion/noticias/poblacion-uruguay-aumento-1-se-contabiliza-3444263-habitantes |url-status=live }}</ref>
| gdp = {{plainlist|
*{{increase}} $87 billion (nominal, 2024)<ref name="imfuy">{{cite web |url=https://www.imf.org/en/Publications/WEO/weo-database/2024/April/weo-report?c=111,&s=NGDPD,PPPGDP,NGDPDPC,PPPPC,&sy=2022&ey=2027&ssm=0&scsm=1&scc=0&ssd=1&ssc=0&sic=0&sort=country&ds=.&br=1 |title=Report for Selected Countries and Subjects: April 2024|publisher=[[International Monetary Fund]]|website=imf.org}}</ref>
*{{increase}} $108 billion ([[Purchasing power parity|PPP]], 2024)<ref name="imfuy"/>}}
| gdp rank = {{plainlist|
*[[List of countries by GDP (nominal)|76th (nominal, 2024)]]
*[[List of countries by GDP (PPP)|97th (PPP, 2024)]]}}
| cpi = {{decrease}} 73 out of 100 points (2023)<ref name="ti_2023">{{cite web |url=https://www.transparency.org/en/cpi/2023 |date=30 January 2024 |title=Corruption Perceptions Index |website=[[Transparency International]] |access-date=15 July 2024 |archive-date=30 January 2024 |archive-url=https://web.archive.org/web/20240130062042/https://www.transparency.org/en/cpi/2023 |url-status=live }}</ref> ([[Corruption Perceptions Index#Ranking over Time|18th]])
| growth = {{plainlist| 
* {{Increase}} 4.9%&nbsp;(2022)<ref name="IMF_forecast">{{cite web | url=https://www.imf.org/en/Publications/WEO/Issues/2023/04/11/world-economic-outlook-april-2023 | title=The outlook is uncertain again amid financial sector turmoil, high inflation, ongoing effects of Russia's invasion of Ukraine, and three years of COVID|work=[[International Monetary Fund]]|date=April 11, 2023 }}</ref> 
* {{Increase}} 2.0%&nbsp;{{abbr|(2023f)|2023 forecast}}<ref name="IMF_forecast"/> 
* {{Increase}} 2.9%&nbsp;{{abbr|(2024f)|2024 forecast}}<ref name="IMF_forecast"/>
}}
| per capita = {{plainlist|
*{{increase}} $23,088 (nominal, 2024)<ref name="imfuy"/>
*{{increase}} $30,170 (PPP, 2024)<ref name="imfuy"/>}}
| per capita rank = {{plainlist|
*[[List of countries by GDP (nominal) per capita|49th (nominal, 2024)]]
*[[List of countries by GDP (PPP) per capita|65th (PPP, 2024)]]}}
| sectors = {{plainlist|
*[[Primary sector of the economy|agriculture]]: 6.2%
*[[Secondary sector of the economy|industry]]: 24.1%
*[[Tertiary sector of the economy|services]]: 69.7% 
*(2017 est.)<ref name="CIAWFUY">{{cite web |url=https://www.cia.gov/the-world-factbook/countries/uruguay/ |title=The World Factbook |publisher=[[Central Intelligence Agency]] |website= CIA.gov |access-date=28 January 2019}}</ref>}}
| components = 
| inflation = {{decreasePositive}} 3.96% (April 2024)<ref>{{Cite web|url= https://www.gub.uy/instituto-nacional-estadistica/comunicacion/publicaciones/inflacion-subyacente-abril-2024|title= Índice de Precios del Consumo (IPC)|publisher= Instituto Nacional de Estadística|date=2024-05-03|access-date=2024-05-05}}</ref>
| poverty = {{decreasePositive}} 9.1% (2022)<ref>{{cite web|title= Uruguay ratifica baja de la pobreza en el último año|url= https://www.gub.uy/presidencia/comunicacion/noticias/uruguay-ratifica-baja-pobreza-ultimo-ano |language=es|publisher=Instituto Nacional de Estadística|website= ine.gub.uy |date=2023-03-27|access-date=2024-05-05}}</ref>
| gini = {{decreasePositive}} 40.6 {{color|darkorange|medium}} (2022, [[World Bank]])<ref>{{cite web |url=https://data.worldbank.org/indicator/SI.POV.GINI?locations=UY |title=GINI index (World Bank estimate) - Uruguay |publisher=[[World Bank]]|website= data.worldbank.org |access-date= 15 July 2024}}</ref>
| hdi = {{plainlist|
*{{increase}} 0.862 {{color|darkgreen|very high}} (2023)<ref name="arghdi">{{Cite web |date=6 May 2025 |title=Human Development Report 2025 |url=https://hdr.undp.org/system/files/documents/global-report-document/hdr2025reporten.pdf|url-status=live |archive-url=https://web.archive.org/web/20250506051232/https://hdr.undp.org/system/files/documents/global-report-document/hdr2025reporten.pdf |archive-date=6 May 2025 |access-date=12 May 2025 |publisher=[[United Nations Development Programme]] |language=en}}</ref> ([[List of countries by Human Development Index|48th]])
*{{increase}} 0.747 {{color|green|high}} [[List of countries by inequality-adjusted HDI|(53rd) IHDI]] (2023)<ref name="uyhdi"/>}}
| edbr = {{decrease}} [[Ease of doing business index#Ranking|101st (medium, 2020)]]<ref name="World Bank and International Financial Corporation">{{cite web |url= http://www.doingbusiness.org/data/exploreeconomies/uruguay |title=Ease of Doing Business in Uruguay |publisher=Doingbusiness.org |access-date=2017-01-23 }}</ref>
| labor = {{plainlist|
*{{decrease}} 1,686,487 (2020)<ref>{{cite web |url=https://data.worldbank.org/indicator/SL.TLF.TOTL.IN?locations=UY |title=Labor force, total - Uruguay |publisher=[[World Bank]] |website=data.worldbank.org |access-date=27 April 2021}}</ref>
*{{decrease}} 54.9% employment rate (February 2021)<ref name="AEU">{{cite web |url= http://www.ine.gub.uy/web/guest/actividad-empleo-y-desempleo |title=Actividad, Empleo y Desempleo |publisher= Instituto Nacional de Estadística|website= ine.gub.uy |access-date= 27 April 2021}}</ref>}}
| occupations = {{plainlist|
*[[Primary sector of the economy|agriculture]]: 13%
*[[Secondary sector of the economy|industry]]: 14%
*[[Tertiary sector of the economy|services]]: 73% 
*(2010 est.)<ref name="CIAWFUY"/>}}
| unemployment = {{decreasePositive}} 7.8% (July 2023)<ref name="AEU"/>
| industries = [[food processing]], electrical machinery, [[transportation]] equipment, [[petroleum products]], [[textile]]s, [[chemicals]], [[beverage]]s
| exports = {{increase}} $12.845 million (2024)
| export-goods = [[beef]], [[soybeans]], [[cellulose]], [[rice]], [[wheat]], [[wood]], [[dairy products]], [[wool]]
| export-partners = {{plainlist|
*{{flag|China}} 24%
*{{flag|Brazil}} 18%
*{{flag|European Union}} 14%
*{{flag|United States}} 9%
*{{flag|Argentina}} 5% 
*{{flag|Turkey}} 4%
*(2024)<ref>{{Citation |title=Informe Anual de Comercio Exterior 2024 - Uruguay XXI |work=Uruguay XXI |url=https://www.uruguayxxi.gub.uy/uploads/informacion/db9efbc27476e87964777b14ad91155ba79bcd39.pdf |place=Montevideo |publisher=Uruguay XXI |format=PDF}}</ref>
}}
| imports = {{increase}} $ 10.875 million (2024)<ref>{{Citation |title=Informe Anual de Comercio Exterior 2024 - Uruguay XXI |work=Uruguay XXI |url=https://www.uruguayxxi.gub.uy/uploads/informacion/db9efbc27476e87964777b14ad91155ba79bcd39.pdf |place=Montevideo |publisher=Uruguay XXI |format=PDF}}</ref>
| import-goods = refined oil, [[crude oil]], passenger and other transportation vehicles, vehicle parts, cellular phones
| import-partners = {{plainlist|
*{{flag|China}} 30%
*{{flag|Brazil}} 25%
*{{flag|European Union}} 13%
*{{flag|Argentina}} 12%
*(2024)<ref>{{Citation |title=Informe Anual de Comercio Exterior 2024 - Uruguay XXI |work=Uruguay XXI |url=https://www.uruguayxxi.gub.uy/uploads/informacion/db9efbc27476e87964777b14ad91155ba79bcd39.pdf |place=Montevideo |publisher=Uruguay XXI |format=PDF}}</ref>
}}
| current account = {{increase}} $879 million (2017 est.)<ref name="CIAWFUY"/>
| FDI = {{plainlist|
*{{increase}} $44.84 billion (31 December 2017 est.)<ref name="CIAWFUY"/>
*{{increase}} Abroad: $19.97 billion (31 December 2017 est.)<ref name="CIAWFUY"/>}}
| gross external debt = {{increaseNegative}} $28.37 billion (31 December 2017 est.)<ref name="CIAWFUY"/>
| debt = {{decreasePositive}}57.4% of GDP (2022 est.)<ref name="CIAWFUY"/><ref group=note>Data cover general government debt, and include debt instruments issued (or owned) by government entities other than the treasury; the data include treasury debt held by foreign entities; the data include debt issued by subnational entities, as well as intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment; debt instruments for the social funds are not sold at public auctions.</ref>
| revenue = 17.66 billion (2017 est.)<ref name="CIAWFUY"/>
| expenses = 19.72 billion (2017 est.)<ref name="CIAWFUY"/>
| balance = −3.5% (of GDP) (2017 est.)<ref name="CIAWFUY"/>
| aid = 
| credit = {{plainlist|
*[[Standard & Poor's]]:<ref>{{cite web |title= Sovereigns rating list |publisher=Standard & Poor's |url= http://www.standardandpoors.com/ratings/sovereigns/ratings-list/en/eu/?subSectorCode=39 |access-date= 26 May 2011}}</ref><ref name=guardian>{{cite news |title= How Fitch, Moody's and S&P rate each country's credit rating |date= 15 April 2011 |first1= Simon |last1= Rogers |first2= Ami |last2= Sedghi |work= The Guardian |url= https://www.theguardian.com/news/datablog/2010/apr/30/credit-ratings-country-fitch-moodys-standard |access-date=28 May 2011 |location=London}}</ref>
*BB (Domestic)
*BB (Foreign)
*BBB+ (T&C Assessment)
*Outlook: Stable
*[[Moody's]]:<ref name=guardian/>
*Ba1
*Outlook: Stable
*[[Fitch Group|Fitch]]:<ref name=guardian/>
*BB
*Outlook: Positive}}
| reserves = {{increase}} $15.96 billion (31 December 2017 est.)<ref name="CIAWFUY"/>
| cianame = uruguay
| spelling = US
}}

[[File:GDP per capita development of Uruguay.svg|thumb|Historical GDP per capita development]]

The '''economy of Uruguay''' features an export-oriented agricultural sector and a well-educated workforce, along with high levels of [[social spending]]. Tourism and banking are also prominent sectors; [[Uruguay]] acts as a regional hub for international finance and tourism. The country also has a history and representation of advanced workers-rights protection, with unions and the eight-hour work-day protected at the beginning of the 20th century.

90% of the country's population is urbanized, while most of the industry and over half of the population is concentrated in the capital [[Montevideo]].<ref name=":0" />

After averaging growth of 5% annually during 1996–98, Uruguay's economy suffered a major downturn in 1999–2002, stemming largely from the spillover effects of the [[Argentine economic crisis (1999–2002)|economic problems]] of its large neighbors; [[Argentina]] and [[Brazil]]. In 2001–02, Argentine citizens made massive withdrawals of dollars deposited in Uruguayan banks after bank deposits in Argentina were frozen, which led to a plunge in the [[Uruguayan peso]], causing the [[2002 Uruguay banking crisis]].

== History ==
=== 19th century ===
In the 19th century, the country had similar characteristics to other Latin American countries: [[caudillismo]], civil wars and permanent instability (40 revolts between 1830 and 1903), foreign capitalism's control of important sectors of the economy, a high percentage of illiterate people (more than half the population in 1900). Among foreign investments, investors from Great Britain controlled 22% of the land and many majors parts of the industrial infrastructure, including meatpacking and leather industry, infrastructure for water and gas, and transport systems like trolley and [[Rail transport in Uruguay|1100 miles of rail]].<ref name=":0" />

In 1857, the first nationally owned bank, Banco Comercial, was founded.<ref>{{Citation |last=Oddone |first=Juan A. |title=The formation of modern Uruguay, c. 1870–1930 |date=1986 |work=The Cambridge History of Latin America: Volume 5: c.1870 to 1930 |volume=5 |pages=453–474 |editor-last=Bethell |editor-first=Leslie |url=https://www.cambridge.org/core/books/abs/cambridge-history-of-latin-america/formation-of-modern-uruguay-c-18701930/3DFA5AAC04BC093B29FC0D2C0F1E8F80 |publisher=Cambridge University Press |doi=10.1017/chol9780521245173.014 |isbn=978-0-521-24517-3}}</ref>

=== Reforms after Batlle ===
[[José Batlle y Ordóñez]], President from 1903 to 1907 and again from 1911 to 1915, set the pattern for Uruguay's modern political development and dominated the political scene until he died in 1929. Batlle introduced widespread political, social, and economic reforms such as a welfare program, government participation in many facets of the economy, and a new constitution.<ref name=":1" />

Batlle nationalized foreign-owned companies and created a modern social welfare system. Income tax for lower incomes was abolished in 1905, secondary schools established in every city (1906), telephone network nationalized, unemployment benefits were introduced (1914), eight-hour working day introduced (1915), etc.<ref name=":1">{{Cite book | url=https://books.google.com/books?id=nJp513dw1oUC&q=independence+of+uruguay&pg=PA21 |title = Uruguay|isbn = 9780761444824|last1 = Jermyn|first1 = Leslie|last2 = Wong|first2 = Winnie|year = 2010| publisher=Marshall Cavendish }}</ref><ref name=":0" /> By 1929, 84% of manufacturing was concentrated in a handful of industries: meatpacking, leather and wool.<ref name=":0" /> Industrial policies further encouraging migration from rural to urban communities, as well as waves of immigrants from southern and eastern Europe.<ref name=":0" /> Investment in urban infrastructure in [[Montevideo]] and a growing economy, was capped by hosting the first [[1930 FIFA World Cup]].<ref name=":0" />

[[Claudio Williman]] who served between Batlle's two terms was his supporter and continued all his reforms, as did the next President Baltasar Brum (1919–1923). Around 1900 infant mortality rates (IMR) in Uruguay were among the world's lowest, indicating a very healthy population.

Uruguay was hit hard by the Great Depression, ending an era of export-led economic growth.<ref>{{Citation |last=Finch |first=Henry |title=Uruguay since 1930 |date=1991 |work=The Cambridge History of Latin America: Volume 8: Latin America since 1930: Spanish South America |volume=8 |pages=195–232 |editor-last=Bethell |editor-first=Leslie |url=https://www.cambridge.org/core/books/abs/cambridge-history-of-latin-america/uruguay-since-1930/C04EAA97219A4ED4422AC657D78A7501 |publisher=Cambridge University Press |doi=10.1017/chol9780521266529.004 |isbn=978-0-521-26652-9}}</ref>

=== Mid-20th century ===
The Uruguay economy shifted from an agriculture-dominated economy to an industrial economy from the period 1930 to 1955.<ref name=":2">{{Cite journal |last=Bell |first=James P. |date=1971 |title=Uruguay's Economic Evolution: 1900 to 1968 |url=https://www.jstor.org/stable/45348928 |journal=SAIS Review (1956-1989) |volume=15 |issue=3 |pages=27–35 |issn=0036-0775}}</ref> This shift led to a sluggish economy, as Uruguay neglected its [[comparative advantage]], diverting resources away from a productive agricultural sector to an inefficient, unproductive manufacturing sector.<ref name=":2" /> The government sought to bolster its manufacturing sector with [[import substitution industrialization]], disincentivizing imports.<ref name=":0">{{Cite book|last=Renfrew|first=Daniel|url=https://www.worldcat.org/oclc/1102765674|title=Life without lead : contamination, crisis, and hope in Uruguay|date=2019|isbn=978-0-520-96824-0|location=Oakland, California|pages=51–82|language=English|chapter=Chapter 2: This is Not a Game|oclc=1102765674}}</ref>  From the 1950s onwards, the Uruguay economy was in decline.<ref>{{Cite journal |last=Socolow |first=Susan M. |date=1966 |title=Uruguay Today |url=https://online.ucpress.edu/currenthistory/article-abstract/51/303/270/166626/Uruguay-Today?redirectedFrom=fulltext |journal=Current History |volume=51 |issue=303 |pages=270–275 |doi=10.1525/curh.1966.51.303.270 |issn=0011-3530}}</ref><ref name=":2" />

[[Anthropology]] professor Daniel Renfrew describes both the 50s and 60s and dictatorship period (70s and 80s) as economic downturn periods, followed by further economic degradation caused by neoliberalism.<ref name=":0" /> Economist Jamie Mezzera disagrees with this interpretation, arguing that between 1968 and 1972, Uruguay was one of the most regulated capitalist economies in the world. In this period, the government massively increased import tariffs and had near-total wage and [[price controls]]. The government instituted these policies to avoid the political pressure that would come if they were to devalue their currency.<ref>{{cite journal |last1=Jamie |first1=Mezzera |title=FREE TRADE AND MARKETS BUT ONLY AS LONG AS WAGES ARE UNDER CONTROL: THE CASE OF URUGUAY IN THE 70s |journal=Center for Latin American Development Studies |series=52 |date=July 1982 |pages=1–6 |doi=10.22004/ag.econ.263626 }}</ref> Between 1955 and 1972, economic output in Uruguay stagnated. After the price and wage controls were largely removed in 1973, growth increased by 4.3% per year until 1979.

The policies of the [[Colorado Party (Uruguay)|Colorado Party]] under [[Julio María Sanguinetti]] and [[Jorge Batlle]] during the 90s and early 2000s, following global trends of neo-liberalization, facilitated a shift from manufacturing and small-scale agriculture, towards increasing [[monoculture]] agriculture and services like finance and [[Tourism in Uruguay|tourism]].<ref name=":0" /> However, these policies faded as the regional economic problems in Argentina and Brazil caused a downturn and unemployment from 1998 to 2003.<ref name=":0" /> The economic and social crises that followed allowed for the election of the [[Broad Front (Uruguay)|Broad Front]] a leftist coalition against the neoliberal policies.<ref name=":0" />

==Currency==
Uruguay has a partially [[dollarization|dollarized]] economy. {{as of|2008|8}} almost 60% of bank loans use [[United States dollar]]s,<ref name="imf20080828">{{cite news | url=http://www.imf.org/external/pubs/ft/survey/so/2008/CAR082808A.htm | title=Uruguay's Monetary Policy Effective Despite Dollarization | work=IMF Survey Magazine | date=2008-08-28 | access-date=March 4, 2012 |author1=Piñón, Marco |author2=Gelos, Gaston }}</ref> but most transactions use the [[Uruguayan peso]].<ref>{{cite book | title=Macroeconomic Implications of Financial Dollarization: The Case of Uruguay | publisher=International Monetary Fund | editor1-last=Piñón |editor1-first=Marco |editor2-last=Gelos |editor2-first=Gaston |editor3-last=López-Mejía |editor3-first=Alejandro | year=2008 | pages=2 | isbn=978-1-58906-727-1}}</ref> Today, the Uruguayan peso is minted in coins of 1, 2, 5, 10, and 50 pesos and in banknotes of 20, 50, 100, 200, 500, 1000, and 2000 pesos.

==Sectors==

===Agriculture, textiles and leather===
{{main|Agriculture in Uruguay}}
Throughout Uruguay's history, their strongest exporting industries have been beef and wool. In the case of beef exports, they have been boosted since Uruguay joined the [[Mercosur]] agreement in 1991 and the country has been able trade with more distant markets, such as Japan. In 2018, it produced 589 thousand tons of beef.<ref>[http://www.fao.org/faostat/en/#data/QL Uruguay production in 2018, by FAO]</ref> 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 [[Great Recession|2008 recession]] in the developed world.

As timber refining is being kept within the country, forestry has become a growth industry in recent years. In 2018, the country produced 1.36 million tons of [[rice]], 1.33 million tons of [[soy]], 816 thousand tons of [[maize]], 637 thousand tons of [[barley]], 440 thousand tons of [[wheat]], 350 thousand tons of [[sugar cane]], 106 thousand tons of [[Orange (fruit)|orange]], 104 thousand tons of [[grape]], 90 thousand tons of [[rapeseed]], 87 thousand tons of [[potato]], 76 thousand tons of [[sorghum]], 71 thousand tons of [[tangerine]], 52 thousand tons of [[oats]], 48 thousand tons of [[apple]], in addition to smaller yields of other agricultural products.<ref>[http://www.fao.org/faostat/en/#data/QC/ Uruguay production in 2018, by FAO]</ref>

[[Liebig Extract of Meat Company]] ran a very large and influential beef extract factory in [[Fray Bentos]] for 100 years.

=== Energy ===
{{excerpt|Energy in Uruguay}}

===Software===

During the last decades the software industry has developed considerably. Many start-ups have been very successful, such is the case of [[PedidosYa]] and [[DLocal]]. Uruguay also exports software; the similar geographic longitude to that of the United States makes it attractive for companies to outsource software development to Uruguayan companies. Other notable Uruguayan software enterprises are: Genexus, Códigos del Sur, Overactive.<ref>{{cite web | url=https://landing.simetrik.com/blog/eng/pedidosya-success-case | title=Discover PedidosYa's success story }}</ref>

===Mining===
{{Main|Mineral industry of Uruguay}}
Although this is a sector that does not make substantial contributions to the country's economy, in recent years there has been some activity in gold and cement production, and also in the extraction of granite.

[[Artigas Department]] is well known for its [[amethyst]] and [[agate]] [[quartz]] varieties mining. During 2010s 20 thousand tons of minerals were extracted with a value of 9 million of US dollars, exported to Germany, United States, Brazil and China.<ref>{{cite journal|last1=Cernuischi|first1=F.|last2=González|first2=F.|last3=Morales Demarco|first3=M.|last4=Marmisolle|first4=J.|last5=Conti|first5=B.|last6=Bossi|first6=J.|date=2018|title=Breve historia de la exploración y explotación de recursos minerales y energéticos en Uruguay y perspectivas a futuro|language=es|journal=Revista de la Sociedad Uruguaya de Geología|volume=21|publisher=Sociedad Uruguaya de Geología|url=https://www.sociedadgeologiauy.org/wp-content/uploads/2020/06/BREVE-HISTORIA-DE-LA-EXPLORACIO%CC%81N-Y-EXPLOTACIO%CC%81N-DE-RECURSOS-MINERALES-Y-ENERGE%CC%81TICOS-EN-URUGUAY-Y-PERSPECTIVAS-A-FUTURO.pdf|access-date=23 July 2022}}</ref>

===Plastics===

In 2011, plastics were the second-largest non-agricultural industrial export of the country.<ref>{{Cite journal |date=2019-02-22 |title=Uruguay |url=https://www.elibrary.imf.org/view/journals/002/2019/065/002.2019.issue-065-en.xml |journal=IMF Staff Country Reports |language=en-US |volume=19 |issue=65 |pages=1 |doi=10.5089/9781484399958.002 |issn=1934-7685}}</ref>

===Telecommunications===

Despite having poor levels of investment in the fixed-line sector, the small size of Uruguay's population has enabled them to attain one of the highest telecommunication density levels in South America and reach a 100% digitalization of main lines. Although the [[Telecommunications in Uruguay|telecommunications sector]] has been under a [[state monopoly]] for some years, provisions have been made to introduce liberalization and to allow for the entry of more firms into the cellular sector.{{citation needed|date=January 2024}}

===Travel and tourism===
{{main|Tourism in Uruguay}}
In 2013, travel and tourism accounted for 9.4% of the country's GDP.<ref>{{cite web|url=http://knoema.com/atlas/Uruguay/topics/Tourism/Travel-and-Tourism-Total-Contribution-to-GDP/Total-Contribution-to-GDP-percent-share|title=Uruguay - Travel & Tourism Total Contribution to GDP - Total Contribution to GDP - % share|work=Knoema|access-date=11 June 2015|archive-url=https://web.archive.org/web/20160304034124/http://knoema.com/atlas/Uruguay/topics/Tourism/Travel-and-Tourism-Total-Contribution-to-GDP/Total-Contribution-to-GDP-percent-share|archive-date=4 March 2016|url-status=dead}}</ref> Their tourist industry is mainly characterized for attracting visitors from neighboring countries. Currently Uruguay's major attraction is the interior, particularly located in the region around Punta del Este.<ref>"Country Reports: Uruguay." Uruguay Country Monitor (2014): 16. Business Source Premier. Web. 7 Dec. 2014.</ref>

==Specialties==

* Cattle were introduced to Uruguay before its independence by [[Hernando Arias de Saavedra]], the Spanish Governor of Buenos Aires in 1603. Beef exports in 2006 amounted to around 37% of Uruguayan exports.<ref>{{cite web |url=http://www.aca.com.uy/datos_estadisticos/exportaciones_2006.htm |title=A.C.A. - Exportaciones 2006 |access-date=2007-02-13 |url-status=dead |archive-url=https://web.archive.org/web/20070410203347/http://www.aca.com.uy/datos_estadisticos/exportaciones_2006.htm |archive-date=2007-04-10 }}</ref>
* Wool is a traditional product exported mainly to America, followed by the UK and India.<ref name="autogenerated3">{{Cite web |url=http://www.sul.org.uy/ |title=Secretariado Uruguayo de la Lana<!-- Bot generated title --> |access-date=2020-07-28 |archive-url=https://web.archive.org/web/20200726053239/https://www.sul.org.uy/ |archive-date=2020-07-26 |url-status=dead }}</ref>
* Milk and dairy products. Conaprole, National Cooperative of Milk Producers<ref name="autogenerated1">{{cite web|url=http://www.conaprole.com.uy|title=Conaprole|access-date=11 June 2015|archive-url=https://web.archive.org/web/20150613062743/http://www.conaprole.com.uy/|archive-date=13 June 2015|url-status=dead}}</ref> is the main exporter of dairy products in Latin America (in 2006). The area of the country dedicated to dairy food is located mainly in the southwest.
* Rice. Fine varieties are produced in the lowlands in the east of the country close to Merin lake on the Uruguay-Brazil border. The national company Saman claims to be the main exporter in Latin America.<ref name="autogenerated2">{{cite web|url=http://www.saman.com.uy|title=SAMAN. Principal exportador de Arroz de América Latina. The leading rice exporter in Latin America.|access-date=11 June 2015|archive-url=https://web.archive.org/web/20150510190131/http://saman.com.uy/|archive-date=10 May 2015|url-status=dead}}</ref> Countries it exports to include Brazil, Iran, Peru, South Africa, Chile, Senegal, Argentina, Paraguay, Bolivia, Ecuador, USA, Canada and China.
* Tourism: Several seaside resorts, like [[Punta del Este]] or [[Punta del Diablo]] in the south-eastern departments of [[Maldonado Department|Maldonado]] and [[Rocha Department|Rocha]], regarded as a jet-set resort in South America, are main attractions of Uruguay. International cruises call at Montevideo from October to March every year. Also, Uruguay hosts many year-round international conferences. (The original GATT Uruguay Round concerning trade was, as its name suggests, hosted in Uruguay). Montevideo is home to the headquarters (secretariat) of [Mercosur], the Common Market of the South, whose full members are Uruguay, [[Argentina]], [[Brazil]], [[Paraguay]] and [[Venezuela]], associate members [[Bolivia]], [[Chile]], [[Colombia]], [[Ecuador]] and [[Peru]].
* Software and consulting. Uruguay's well-educated workforce and lower-than-international wages have put Uruguay on the IT map. A product named [[GeneXus]],<ref>{{cite web|url=http://www.genexus.com|title=Desarrollo de Aplicaciones Empresariales Multiplataforma - GeneXus|access-date=11 June 2015|archive-url=https://web.archive.org/web/20150516175200/http://www.genexus.com/|archive-date=16 May 2015|url-status=dead}}</ref> originally created in Uruguay by a company called ArTech, is noteworthy. Other important developers and consultants include De Larrobla & Asociados,<ref>{{cite web|url=http://www.bantotal.com|title=Bantotal|access-date=11 June 2015|archive-url=https://web.archive.org/web/20150428234141/http://www.bantotal.com/|archive-date=28 April 2015|url-status=dead}}</ref> [[Greycon]] and [https://www.quanam.com/ Quanam].<ref>{{cite web|url=http://www.gquanam.com/home/index.php?idioma=eng|title=inicio - localhost|access-date=11 June 2015|url-status=dead|archive-url=https://web.archive.org/web/20160304042834/http://www.gquanam.com/home/index.php?idioma=eng|archive-date=4 March 2016}}</ref> [[Tata Consultancy Services]] has its headquarters for the Spanish speaking world in Uruguay. Many of these companies have established in [http://www.zonamerica.com].

<blockquote>
"With a population of only three million, Uruguay has rapidly become Latin America's outsourcing hub. In partnership with one of India's largest technology consulting firms, engineers in Montevideo work while their counterparts in Mumbai sleep." - The New York Times, Sep 22, 2006.
</blockquote>

* Banking Services. Banking has traditionally been one of the strongest service export sectors in the country. Uruguay was once dubbed "the Switzerland of America", mainly for its banking sector and stability. The largest bank in Uruguay is Banco República, or [[BROU]], which is state-owned; another important state bank is the [[Banco Hipotecario del Uruguay|BHU]]. Almost 20 private banks, most of the branches of international banks, operate in the country (Banco Santander, ABN AMRO, Citibank, among others). There is also a myriad of brokers and financial-services bureaus, among them Ficus Capital, Galvin Sociedad de Bolsa, Europa Sociedad de Bolsa, Darío Cukier, GBU, Hordeñana & Asociados Sociedad de Bolsa, etc. Uruguay has fully recovered from the financial crisis that caused a run on its banks.{{citation needed|date=January 2024}}
* Public Sector: The state in Uruguay has an important role in the economy, Uruguay resisted the trend of privatization in Utilities and state-owned enterprises in the region. Several Referendums supported the state being in control of the most important utilities and energy companies. Some of the companies have a full monopoly warranted by law (like landline telephony, water), others compete freely with private operators (Insurance, mobile telephony, Banks). Most of them are dominant in the local market. There is strong debate in the Uruguayan society about their role and future. Some of them contributed to the Uruguay state treasury.{{citation needed|date=January 2024}}
** The most important state-owned companies are: [[Republica AFAP]] (Pension Fund), [[State Railways Administration of Uruguay|AFE]] (Railways), [[ANCAP (Uruguay)|ANCAP]] (Energy), [[ANCO]] (Mail), Administracion Nacional de Puertos (Ports), [[ANTEL]] (Telecommunications: Telephony, Mobiles ([[ANCEL]] and Data [[ANTELDATA]])), BHU (Mortgage Bank), [[Banco de la República Oriental del Uruguay|BROU]] (Bank), BSE (Insurance), OSE (Water & Sewage), [[UTE]] (Electricity). These companies operate under public law, using a legal entity defined in the Uruguayan Constitution called 'Ente Autonomo' (Meaning Autonomic Entity). The government also owns parts of other companies operating under private law like the National Airline Carrier [[PLUNA]] and others owned totally or partially by the CND National Development Corporation.{{citation needed|date=January 2024}}

==Trade agreements==
{| class="wikitable"
|'''Currently in force (Free Trade Agreements / Economic Complementation Agreements)'''
|-
|[[Mercosur]] (signed and effective November 1991)
|-
|ECA N.º&nbsp;36 MERCOSUR with {{Flag|Bolivia}} (signed December 1996 and effective February 1997)
|-
|FTA with {{Flag|Mexico}} (signed November 2003 and effective July 2004)
|-
|ECAa N.º&nbsp;59 with {{Flag|Ecuador}} (signed October 2004 and effective April 2005)
|-
|ECA N.º&nbsp;58 MERCOSUR with {{Flag|Peru}} (signed August 2005 and effective December 2005)
|-
|ECA N.º&nbsp;62 MERCOSUR with {{Flag|Cuba}} (signed July 2006 and effective September 2008)
|-
|Comercial Preference Agreement MERCOSUR with {{Flag|India}} (signed January 2004 and effective June 2009)
|-
|FTA MERCOSUR with {{Flag|Israel}} (signed December de 2007 and effective December 2009)
|-
|Partial Agreement N.º&nbsp;63 with {{Flag|Venezuela}} (signed December 2012 and effective March 2013)
|-
|Comercial Preference Agreement MERCOSUR with [[SACU]] (signed September 2011 and effective April 2016)
|-
|FTA MERCOSUR with {{Flag|Egypt}} (signed December 2015 and effective September 2017)
|-
|ECA N.º&nbsp;72 MERCOSUR with {{Flag|Colombia}} (signed July 2017 and effective December 2017)
|-
|FTA with {{Flag|Chile}} signed October 2016 and effective December 2018)
|-
|'''Concluded (not in force)'''
|-
|FTA MERCOSUR with {{Flag|State of Palestine}} (signed December 2011)
|}

==Data==

The following table shows the main economic indicators in 1980–2021 (with IMF staff estimates in 2022–2027). Inflation below 10% is in green.<ref>{{cite web | url=https://www.imf.org/en/Publications/WEO/weo-database/2022/October/weo-report?c=298,&s=NGDP_RPCH,NGDPD,PPPGDP,NGDPDPC,PPPPC,PCPIPCH,LUR,GGXWDG_NGDP,&sy=1980&ey=2027&ssm=0&scsm=1&scc=0&ssd=1&ssc=0&sic=0&sort=country&ds=.&br=1 | title=Report for Selected Countries and Subjects }}</ref>
{| class="wikitable" style="text-align:center;"
!Year
!GDP
<small>(in Bil. US$PPP)</small>
!GDP per capita
<small>(in US$ PPP)</small>
!GDP
<small>(in Bil. US$nominal)</small>
!GDP per capita
<small>(in US$ nominal)</small>
!GDP growth
<small>(real)</small>
!Inflation rate
<small>(in Percent)</small>
!Unemployment
<small>(in Percent)</small>
!Government debt
<small>(in % of GDP)</small>
|-
|1980
|14.8
|5,050.0
|12.2
|4,139.9
|{{Increase}}6.0%
|{{IncreaseNegative}}63.5%
|n/a
|n/a
|-
|1981
|{{Increase}}16.6
|{{Increase}}5,594.3
|{{Increase}}13.6
|{{Increase}}4,589.0
|{{Increase}}1.9%
|{{IncreaseNegative}}34.0%
|n/a
|n/a
|-
|1982
|{{Decrease}}15.9
|{{Decrease}}5,347.4
|{{Decrease}}11.1
|{{Decrease}}3,727.4
|{{Decrease}}-9.4%
|{{IncreaseNegative}}19.0%
|n/a
|n/a
|-
|1983
|{{Decrease}}15.6
|{{Decrease}}5,198.1
|{{Decrease}}6.1
|{{Decrease}}2,033.0
|{{Decrease}}-5.9%
|{{IncreaseNegative}}49.2%
|14.5%
|n/a
|-
|1984
|{{Increase}}15.9
|{{Increase}}5,273.5
|{{Decrease}}5.8
|{{Decrease}}1,920.9
|{{Decrease}}-1.5%
|{{IncreaseNegative}}55.3%
|{{DecreasePositive}}14.0%
|n/a
|-
|1985
|{{Increase}}16.5
|{{Increase}}5,422.0
|{{Decrease}}5.7
|{{Decrease}}1,865.1
|{{Increase}}0.3%
|{{IncreaseNegative}}72.2%
|{{DecreasePositive}}13.1%
|n/a
|-
|1986
|{{Increase}}18.0
|{{Increase}}5,912.7
|{{Increase}}7.0
|{{Increase}}2,302.5
|{{Increase}}7.5%
|{{IncreaseNegative}}76.4%
|{{DecreasePositive}}10.1%
|n/a
|-
|1987
|{{Increase}}19.6
|{{Increase}}6,381.1
|{{Increase}}8.8
|{{Increase}}2,864.7
|{{Increase}}5.9%
|{{IncreaseNegative}}63.6%
|{{DecreasePositive}}9.1%
|n/a
|-
|1988
|{{Increase}}20.4
|{{Increase}}6,599.9
|{{Increase}}9.1
|{{Increase}}2,946.4
|{{Increase}}0.5%
|{{IncreaseNegative}}62.2%
|{{DecreasePositive}}8.6%
|n/a
|-
|1989
|{{Increase}}21.4
|{{Increase}}6,896.1
|{{Increase}}9.6
|{{Increase}}3,088.0
|{{Increase}}1.1%
|{{IncreaseNegative}}80.4%
|{{DecreasePositive}}8.0%
|n/a
|-
|1990
|{{Increase}}22.3
|{{Increase}}7,136.0
|{{Increase}}11.2
|{{Increase}}3,573.1
|{{Increase}}0.3%
|{{IncreaseNegative}}112.5%
|{{IncreaseNegative}}8.5%
|n/a
|-
|1991
|{{Increase}}23.8
|{{Increase}}7,594.2
|{{Increase}}13.4
|{{Increase}}4,281.1
|{{Increase}}3.5%
|{{IncreaseNegative}}102.0%
|{{IncreaseNegative}}8.9%
|n/a
|-
|1992
|{{Increase}}26.3
|{{Increase}}8,333.4
|{{Increase}}15.5
|{{Increase}}4,890.2
|{{Increase}}7.9%
|{{IncreaseNegative}}68.5%
|{{IncreaseNegative}}9.0%
|n/a
|-
|1993
|{{Increase}}27.7
|{{Increase}}8,705.4
|{{Increase}}18.0
|{{Increase}}5,659.5
|{{Increase}}2.7%
|{{IncreaseNegative}}54.1%
|{{DecreasePositive}}8.3%
|n/a
|-
|1994
|{{Increase}}30.3
|{{Increase}}9,449.3
|{{Increase}}21.0
|{{Increase}}6,530.0
|{{Increase}}7.3%
|{{IncreaseNegative}}44.7%
|{{IncreaseNegative}}9.2%
|n/a
|-
|1995
|{{Increase}}30.5
|{{Decrease}}9,448.7
|{{Increase}}23.2
|{{Increase}}7,176.4
|{{Decrease}}-1.4%
|{{IncreaseNegative}}42.2%
|{{IncreaseNegative}}10.3%
|n/a
|-
|1996
|{{Increase}}32.8
|{{Increase}}10,095.7
|{{Increase}}24.6
|{{Increase}}7,580.6
|{{Increase}}5.6%
|{{IncreaseNegative}}28.3%
|{{IncreaseNegative}}11.9%
|n/a
|-
|1997
|{{Increase}}35.0
|{{Increase}}10,665.0
|{{Increase}}26.0
|{{Increase}}7,925.9
|{{Increase}}5.0%
|{{IncreaseNegative}}19.8%
|{{DecreasePositive}}11.6%
|n/a
|-
|1998
|{{Increase}}37.0
|{{Increase}}11,183.4
|{{Increase}}27.6
|{{Increase}}8,329.1
|{{Increase}}4.5%
|{{IncreaseNegative}}10.8%
|{{DecreasePositive}}10.1%
|n/a
|-
|1999
|{{Decrease}}36.8
|{{Decrease}}11,042.6
|{{Decrease}}26.1
|{{Decrease}}7,814.5
|{{Decrease}}-1.9%
|{{Increase}}5.7%
|{{IncreaseNegative}}11.2%
|n/a
|-
|2000
|{{Increase}}36.9
|{{Decrease}}11,030.1
|{{Decrease}}24.8
|{{Decrease}}7,406.0
|{{Decrease}}-1.9%
|{{Increase}}4.8%
|{{IncreaseNegative}}13.4%
|n/a
|-
|2001
|{{Decrease}}36.3
|{{Decrease}}10,837.5
|{{Decrease}}22.7
|{{Decrease}}6,776.8
|{{Decrease}}-3.8%
|{{Increase}}4.4%
|{{IncreaseNegative}}15.2%
|n/a
|-
|2002
|{{Decrease}}34.0
|{{Decrease}}10,170.0
|{{Decrease}}14.8
|{{Decrease}}4,425.1
|{{Decrease}}-7.7%
|{{IncreaseNegative}}14.0%
|{{IncreaseNegative}}16.8%
|n/a
|-
|2003
|{{Increase}}35.0
|{{Increase}}10,480.1
|{{Decrease}}13.1
|{{Decrease}}3,926.7
|{{Increase}}0.8%
|{{IncreaseNegative}}19.4%
|{{IncreaseNegative}}17.2%
|n/a
|-
|2004
|{{Increase}}37.7
|{{Increase}}11,289.8
|{{Increase}}14.9
|{{Increase}}4,456.8
|{{Increase}}5.0%
|{{Increase}}9.2%
|{{DecreasePositive}}13.3%
|n/a
|-
|2005
|{{Increase}}41.8
|{{Increase}}12,471.6
|{{Increase}}18.9
|{{Increase}}5,638.0
|{{Increase}}7.5%
|{{Increase}}4.7%
|{{DecreasePositive}}12.1%
|n/a
|-
|2006
|{{Increase}}44.9
|{{Increase}}13,360.9
|{{Increase}}21.3
|{{Increase}}6,347.3
|{{Increase}}4.1%
|{{Increase}}6.4%
|{{DecreasePositive}}10.8%
|n/a
|-
|2007
|{{Increase}}49.1
|{{Increase}}14,616.2
|{{Increase}}25.5
|{{Increase}}7,587.9
|{{Increase}}6.5%
|{{Increase}}8.1%
|{{DecreasePositive}}9.4%
|n/a
|-
|2008
|{{Increase}}53.6
|{{Increase}}15,945.2
|{{Increase}}33.0
|{{Increase}}9,808.9
|{{Increase}}7.2%
|{{Increase}}7.9%
|{{DecreasePositive}}7.9%
|46.4%
|-
|2009
|{{Increase}}56.3
|{{Increase}}16,653.9
|{{Increase}}34.4
|{{Increase}}10,181.7
|{{Increase}}4.2%
|{{Increase}}7.1%
|{{DecreasePositive}}7.8%
|{{DecreasePositive}}46.4%
|-
|2010
|{{Increase}}61.4
|{{Increase}}18,069.7
|{{Increase}}43.8
|{{Increase}}12,899.7
|{{Increase}}7.8%
|{{Increase}}6.7%
|{{DecreasePositive}}7.0%
|{{DecreasePositive}}40.8%
|-
|2011
|{{Increase}}65.9
|{{Increase}}19,306.8
|{{Increase}}52.3
|{{Increase}}15,331.1
|{{Increase}}5.2%
|{{Increase}}8.1%
|{{DecreasePositive}}6.3%
|{{IncreaseNegative}}41.6%
|-
|2012
|{{Increase}}66.8
|{{Increase}}19,489.1
|{{Increase}}55.6
|{{Increase}}16,213.8
|{{Increase}}3.5%
|{{Increase}}8.1%
|{{Steady}}6.3%
|{{IncreaseNegative}}49.8%
|-
|2013
|{{Increase}}70.4
|{{Increase}}20,475.3
|{{Increase}}62.1
|{{Increase}}18,049.7
|{{Increase}}4.6%
|{{Increase}}8.6%
|{{IncreaseNegative}}6.5%
|{{IncreaseNegative}}50.1%
|-
|2014
|{{Increase}}74.2
|{{Increase}}21,491.9
|{{Decrease}}61.9
|{{Decrease}}17,908.8
|{{Increase}}3.2%
|{{Increase}}8.9%
|{{IncreaseNegative}}6.6%
|{{IncreaseNegative}}50.8%
|-
|2015
|{{Increase}}74.9
|{{Increase}}21,614.5
|{{Decrease}}57.4
|{{Decrease}}16,565.8
|{{Increase}}0.4%
|{{Increase}}8.7%
|{{IncreaseNegative}}7.5%
|{{IncreaseNegative}}57.8%
|-
|2016
|{{Increase}}76.9
|{{Increase}}22,092.5
|{{Decrease}}57.2
|{{Decrease}}16,448.8
|{{Increase}}1.7%
|{{Increase}}9.6%
|{{IncreaseNegative}}7.9%
|{{DecreasePositive}}55.8%
|-
|2017
|{{Increase}}79.1
|{{Increase}}22,637.3
|{{Increase}}64.4
|{{Increase}}18,431.4
|{{Increase}}1.6%
|{{Increase}}6.2%
|{{Steady}}7.9%
|{{IncreaseNegative}}56.7%
|-
|2018
|{{Increase}}81.4
|{{Increase}}23,204.0
|{{Decrease}}64.3
|{{Decrease}}18,338.8
|{{Increase}}0.5%
|{{Increase}}7.6%
|{{IncreaseNegative}}8.4%
|{{IncreaseNegative}}58.3%
|-
|2019
|{{Increase}}83.1
|{{Increase}}23,617.2
|{{Decrease}}61.0
|{{Decrease}}17,341.4
|{{Increase}}0.4%
|{{Increase}}7.9%
|{{IncreaseNegative}}8.9%
|{{IncreaseNegative}}61.0%
|-
|2020
|{{Decrease}}79.0
|{{Decrease}}22,361.7
|{{Decrease}}53.7
|{{Decrease}}15,208.0
|{{Decrease}}-6.1%
|{{Increase}}9.8%
|{{IncreaseNegative}}10.4%
|{{IncreaseNegative}}68.3%
|-
|2021
|{{Increase}}85.9
|{{Increase}}24,233.1
|{{Increase}}59.3
|{{Increase}}16,735.3
|{{Increase}}4.4%
|{{Increase}}7.7%
|{{DecreasePositive}}9.4%
|{{DecreasePositive}}65.1%
|-
|2022
|{{Increase}}96.8
|{{Increase}}27,232.8
|{{Increase}}71.2
|{{Increase}}20,017.6
|{{Increase}}5.3%
|{{Increase}}9.1%
|{{DecreasePositive}}7.9%
|{{DecreasePositive}}61.2%
|-
|2023
|{{Increase}}103.8
|{{Increase}}29,109.3
|{{Increase}}73.0
|{{Increase}}20,463.9
|{{Increase}}3.6%
|{{Increase}}7.8%
|{{Steady}}7.9%
|{{IncreaseNegative}}62.6%
|-
|2024
|{{Increase}}108.9
|{{Increase}}30,425.7
|{{Increase}}74.8
|{{Increase}}20,919.5
|{{Increase}}2.7%
|{{Increase}}6.4%
|{{Steady}}7.9%
|{{IncreaseNegative}}63.9%
|-
|2025
|{{Increase}}113.7
|{{Increase}}31,668.3
|{{Increase}}77.6
|{{Increase}}21,620.1
|{{Increase}}2.5%
|{{Increase}}5.8%
|{{Steady}}7.9%
|{{IncreaseNegative}}64.1%
|-
|2026
|{{Increase}}118.4
|{{Increase}}32,882.5
|{{Increase}}79.6
|{{Increase}}22,122.0
|{{Increase}}2.2%
|{{Increase}}4.5%
|{{Steady}}7.9%
|{{IncreaseNegative}}64.9%
|-
|2027
|{{Increase}}123.3
|{{Increase}}34,153.7
|{{Increase}}82.0
|{{Increase}}22,710.1
|{{Increase}}2.2%
|{{Increase}}4.5%
|{{Steady}}7.9%
|{{DecreasePositive}}64.7%
|}
*'''Industrial production growth rate:''' 12.6% (2006 est.)
*'''Electricity - production:''' 9,474 GWh (1998)
**''[[fossil fuel]]:'' 3.91%
**''hydro:'' 95.62%
**''nuclear:'' 0%
**''other:'' 0.47% (1998)
*'''Electricity - consumption:''' 6,526 GWh (1998)
*'''Electricity - exports:''' 2,363 GWh (1998)
*'''Electricity - imports:''' 78 GWh (1998)
*'''Agriculture - products:''' [[wheat]], [[rice]], [[barley]], [[maize]], [[sorghum]]; [[livestock]]; [[fish]]
*'''Exchange rates:''' Uruguayan pesos per US dollar - 24.048 (2006), 24.479 (2005), 28.704 (2004), 28.209 (2003), 21.257 (2002)

==Uruguay in the world==

The following table shows the economic rankings of Uruguay compared to the world:
{| class="wikitable"
|+
!Index
!Source
!Rank
!Published
|-
|[[Quality of life index by country|Quality of Life Index]]
|Numbeo<ref>{{Cite web|url=https://www.numbeo.com/quality-of-life/rankings_by_country.jsp|title=Quality of Life Index by Country 2023|website=Numbeo|access-date=2024-07-15}}</ref>
|42°
|2024
|-
|[[List of countries by Human Development Index|Human Development Index]]
|UNDP<ref name=uyhdi>{{Cite web |date=13 March 2024 |title=Human Development Report 2023/2024 |url=https://hdr.undp.org/system/files/documents/global-report-document/hdr2023-24reporten.pdf|url-status=live |archive-url=https://web.archive.org/web/20240313164319/https://hdr.undp.org/system/files/documents/global-report-document/hdr2023-24reporten.pdf |archive-date=13 March 2024 |access-date=17 April 2024 |publisher=[[United Nations Development Programme]] |language=en}}</ref>
|52°
|2022
|-
|[[Democracy Index]]
|''Economist Intelligence Unit''<ref>{{Cite news |date=2023-02-13 |title=Democracy Index 2022: Frontline democracy and the battle for Ukraine |url=https://pages.eiu.com/rs/753-RIQ-438/images/DI-final-version-report.pdf|access-date=2023-02-13 |newspaper=The Economist |language=en}}</ref>
|11°
|2022
|-
|[[Global Peace Index]]
|Vision of Humanity<ref>{{Cite web|url=https://www.visionofhumanity.org/wp-content/uploads/2022/06/GPI-2022-web.pdf|title=Global Peace Index|website=Global Peace Index 2022|language=en-us|access-date=2023-02-13}}</ref>
|46°
|2020-2022
|-
|[[Legatum Prosperity Index|Prosperity Index]]
|Legatum<ref>{{Cite web|url=https://www.prosperity.com/rankings|title=The Legatum Prosperity Index™|website=www.prosperity.com|language=en|access-date=2023-02-13}}</ref>
|37°
|2021
|-
|[[Corruption Perceptions Index]]
|Transparency<ref>{{Cite web|url=https://www.transparency.org/en/cpi|title=Corruption Perceptions Index|website=www.transparency.org|date=31 January 2023 |access-date=2023-02-13}}</ref>
|14°
|2023
|-
|[[Index of Economic Freedom|Economic Freedom Index]]
|Heritage<ref>{{Cite web|url=https://www.heritage.org/index/ranking|archive-url=https://web.archive.org/web/20101117114939/http://www.heritage.org/Index/ranking|url-status=unfit|archive-date=November 17, 2010|title=Country Rankings: World & Global Economy Rankings on Economic Freedom|website=www.heritage.org|language=en|access-date=2023-02-13}}</ref>
|34°
|2022
|-
|[[Global Competitiveness Report]]
|World Economic Forum<ref>{{Cite web|url=http://www3.weforum.org/docs/WEF_TheGlobalCompetitivenessReport2019.pdf|title=Reports|website=World Economic Forum|access-date=2023-02-13}}</ref>
|54°
|2019
|-
|Cost of Living Index
|Expatistan<ref>{{Cite web|url=https://www.expatistan.com/cost-of-living/country/ranking|title=Cost of Living Index|website=Expatistan, cost of living comparisons|language=en|access-date=2023-02-13}}</ref>
|30°
|2023
|-
| rowspan="3" |Debt Rating<ref>{{Cite web|url=https://countryeconomy.com/ratings/uruguay|title=Rating: Uruguay Credit Rating|website=countryeconomy.com|language=en|access-date=2023-02-13}}</ref>
|Moodys
|BAA2
|2021
|-
|S&P
|BBB
|2017
|-
|Fitch
|BBB-
|2020
|-
| rowspan="2" |Developed Country Recognition
|World Bank
|High Income
|2023
|-
|United Nations
|Very High HDI
|2021 (2022 report)
|-
|Index of Geopolitical Gains and Losses
after Energy Transition (GeGaLo Index)
|Overland et al.<ref name="doi.org">{{cite journal | url=https://doi.org/10.1016/j.esr.2019.100406 | doi=10.1016/j.esr.2019.100406 | title=The GeGaLo index: Geopolitical gains and losses after energy transition | date=2019 | last1=Overland | first1=Indra | last2=Bazilian | first2=Morgan | last3=Ilimbek Uulu | first3=Talgat | last4=Vakulchuk | first4=Roman | last5=Westphal | first5=Kirsten | journal=Energy Strategy Reviews | volume=26 | bibcode=2019EneSR..2600406O | hdl=11250/2634876 | hdl-access=free }}</ref>
|6 out of 156
|2019
|}

==See also==
* [[Petroleum in Uruguay]]
* [[Taxation in Uruguay]]
* [[Economy of South America]]
* [[List of Latin American and Caribbean countries by GDP growth]]
* [[List of Latin American and Caribbean countries by GDP (nominal)]]
* [[List of Latin American and Caribbean countries by GDP (PPP)]]
* [[IMF-Uruguayan Relationship]]

{{Subject bar|portal1=Uruguay|portal2=Business and Economics}}

==Notes==
{{reflist|group=note}}

==References==
{{reflist}}

12. {{cite web|url= https://www.opp.gub.uy/es/noticias/desempleo-en-uruguay-disminuyo-78-en-julio#:~:text=La%20tasa%20de%20desempleo%20descendió%20al%207%2C8%25%20en%20julio,en%20julio%20del%20mismo%20año. |access-date= 5 May 2024 | title = (Desempleo en Uruguay disminuyó a 7,8% en julio)}}

==External links==
*[http://wits.worldbank.org/CountryProfile/Country/URY/Year/2012/Summary World Bank Summary Trade Statistics Uruguay]
{{commons}}
{{SACN}}
{{World Trade Organization}}
{{South America in topic|Economy of}}
{{Automotive industry in Uruguay}}
{{Uruguay topics}}

{{DEFAULTSORT:Economy Of Uruguay}}
[[Category:Economy of Uruguay| ]]
[[Category:World Trade Organization member economies|Uruguay]]