This page has economic forecasts for Uruguay including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Uruguay economy.


Overview Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Growth Rate 0.20 1.4 1.2 1.2 1 1.3 percent
Unemployment Rate 8.70 8 7.7 8.2 8.6 8.7 percent
Inflation Rate 8.01 7.6 7.4 7.3 7.2 7 percent
Interest Rate 9.25 9.25 9.25 9.25 9.25 9.25 percent
Balance of Trade -66448.00 -81210 -78789 -78417 -78524 -78578 USD Thousand
Government Debt to GDP 50.60 54 60 60 60 57 percent
MARKETS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Currency 32.72
33.24 33.46 33.69 33.91 34.83
GDP Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Growth Rate 0.20
percent
1.4 1.2 1.2 1 1.3
GDP Annual Growth Rate 2.50
percent
3 3.1 3.2 2.6 3.3
GDP 56.16
USD Billion
60 65 65 65 69
GDP Constant Prices 173721608.00
UYU Thousand
189268513 181961973 179280699 180522158 201770834
Gross Fixed Capital Formation 29240194.20
UYU Thousand
31464777 28389413 30175880 29025712 33543215
GDP per capita 14362.60
USD
14700 15000 15000 15000 15400
GDP per capita PPP 20551.40
USD
20900 21400 21400 21400 21900
GDP From Agriculture 9247009.00
UYU Thousand
12610614 10429108 9542913 10050117 13443621
GDP From Construction 7622727.00
UYU Thousand
8631649 7809028 7866654 8237645 9201821
GDP From Manufacturing 22617119.00
UYU Thousand
24687207 22556470 23340867 22456986 26317945
GDP From Services 22846693.00
UYU Thousand
26303952 24570565 23577787 24609664 28041485
GDP From Transport 35172753.00
UYU Thousand
35451309 36175589 36298281 35281618 37793081
GDP From Utilities 4170768.00
UYU Thousand
3428156 4605713 4304233 4565663 3654606
LABOUR Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Unemployment Rate 8.70
percent
8 7.7 8.2 8.6 8.7
Employment Rate 56.41
percent
56.69 56.69 56.69 56.69 56.69
Wages 25950.00
UYU/Month
27500 28000 27503 27605 28500
Wages in Manufacturing 298.70
Index Points
280 281 315 320 289
Population 3.49
million
3.5 3.52 3.52 3.52 3.54
PRICES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Inflation Rate 8.01
percent
7.6 7.4 7.3 7.2 7
Consumer Price Index CPI 186.66
Index Points
186 193 196 200 214
Producer Prices 192.81
Index Points
194 197 199 201 221
Producer Prices Change 10.66
percent
12.5 10.8 9.5 8.5 11
Inflation Rate Mom 0.20
percent
0.75 0.53 0.66 0.6 0.62
Food Inflation 8.40
percent
9.5 9 9 8.5 5.4
GDP Deflator 254.52
Index Points
262 265 268 271 300
CPI Housing Utilities 194.63
Index Points
187 204 206 208 215
CPI Transportation 180.16
Index Points
178 182 188 193 204
MONEY Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Interest Rate 9.25
percent
9.25 9.25 9.25 9.25 9.25
Interbank Rate 2.69
percent
2.69 2.69 2.69 2.69 2.69
Money Supply M0 52536.00
UYU Million
52224 52191 52184 52186 52187
Money Supply M1 140756.00
UYU Million
141076 141024 140999 140998 140998
Money Supply M2 294024.00
UYU Million
293637 293510 293474 293465 293463
Foreign Exchange Reserves 15907.50
USD Million
15365 15247 15223 15219 15218
Loans to Private Sector 1193.86
USD Thousand
1194 1194 1194 1194 1194
Deposit Interest Rate 5.10
percent
5.1 5.1 5.1 5.1 5.1
Central Bank Balance Sheet 103432.00
UYU Million
103407 103203 103195 103202 103200
TRADE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Balance of Trade -66448.00
USD Thousand
-81210 -78789 -78417 -78524 -78578
Exports 652414.00
USD Thousand
642871 642715 643548 643628 643523
Imports 718862.00
USD Thousand
726664 721504 721965 722152 722101
Current Account -210.00
USD Million
-120 380 300 190 140
Current Account to GDP 0.50
percent
-0.4 -1.24 -1.24 -1.24 -1
External Debt 43191.00
USD Million
43644 43968 44038 44116 44268
Capital Flows 858.60
USD Million
-390 700 520 470 270
Remittances 115.97
USD Million
115 114 113 112 107
Tourism Revenues 1089044.35
USD Thousand
527233 527233 527233 527233 527233
Gold Reserves 0.10
Tonnes
0.1 0.09 0.09 0.09 0.1
Terrorism Index 0.78
0.78 0.78 0.78 0.78 0.78
Tourist Arrivals 616211.00
920000 920100 920100 920100 920100
Foreign Direct Investment 62.30
USD Million
64.3 33.36 29.69 29.67 20.52
GOVERNMENT Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Government Debt to GDP 50.60
percent
54 60 60 60 57
Government Budget -3.00
percent of GDP
-3.1 -2.9 -2.9 -2.9 -3.1
Government Budget Value -6723.39
UYU Million
-18110 -16579 -17939 -16401 -17267
Government Spending 18009625.66
UYU Thousand
18675439 18977718 18585934 18521814 19909064
Government Revenues 31286.50
UYU Million
32930 32596 32439 32436 32451
Fiscal Expenditure 51189.63
UYU Million
51540 49175 50379 48837 49719
Military Expenditure 1112.80
USD Million
1065 1080 1096 1111 1155
BUSINESS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Industrial Production 16.10
percent
16 19 24 23 23
Changes in Inventories -709439.18
UYU THO
-445552 -397666 -349779 -301893 1336042
Internet Speed 9505.67
KBps
9493 9495 9494 9495 9494
IP Addresses 959629.00
IP
932885 947954 935323 941383 939981
Steel Production 5.00
Thousand Tonnes
5.09 5.1 5.1 5.1 5.1
Competitiveness Index 62.69
Points
63.19 63.19 63.19 63.19 65.69
Competitiveness Rank 53.00
53 53 53 53 53
Corruption Index 70.00
Points
70 70 70 70 70
Corruption Rank 23.00
23 23 23 23 23
Ease of Doing Business 95.00
98 95 94 92 92
CONSUMER Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Consumer Spending 130882104.70
UYU Thousand
140582808 131199948 135070332 139066834 149869146
Gasoline Prices 1.68
USD/Liter
1.65 1.62 1.59 1.56 1.45
TAXES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Corporate Tax Rate 25.00
percent
25 25 25 25 25
Personal Income Tax Rate 36.00
percent
36 36 36 36 36
Sales Tax Rate 22.00
percent
22 22 22 22 22
Social Security Rate 35.76
percent
35.76 35.76 35.76 35.76 35.76
Social Security Rate For Companies 12.63
percent
12.63 12.63 12.63 12.63 12.63
Social Security Rate For Employees 23.13
percent
23.13 23.13 23.13 23.13 23.13
CLIMATE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Precipitation 170.49
mm
98.54 110 111 111 103
Temperature 22.85
celsius
19.35 22.66 15.54 17.35 17.59



Uruguay - Economic Forecasts - 2018-2020 Outlook