Uruguay | Economic Forecasts | 2017-2020 Outlook

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 Q3/17 Q4/17 Q1/18 Q2/18 2020
GDP Growth Rate 1.50 0.6 0.3 0.3 0.3 1 percent [+]
Unemployment Rate 7.84 8.3 8.4 8.1 8.1 8.7 percent [+]
Inflation Rate 5.45 4.8 4.9 4.4 4.6 8.5 percent [+]
Interest Rate 9.25 9.25 9 9 9 8.5 percent [+]
Balance of Trade 200395.00 -10156 -27863 -25687 -25531 -25560 USD Thousand [+]
Government Debt to GDP 52.70 50.76 51.01 49.57 48.13 34.21 percent [+]
MARKETS Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Currency 28.79 28.39 28.11 27.82 27.53 24.38 [+]
GDP Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
GDP Growth Rate 1.50 0.6 0.3 0.3 0.3 1 percent [+]
GDP Annual Growth Rate 2.80 3.8 3.9 4.2 3.9 2.4 percent [+]
GDP 52.42 55 55 47.52 46.59 66 USD Billion [+]
GDP Constant Prices 169392309.00 174357823 185015605 178442274 176006817 194465683 UYU Thousand [+]
Gross Fixed Capital Formation 34161223.24 32690524 35069533 31198149 35228328 33518801 UYU Thousand [+]
GDP per capita 14010.00 14195 14195 14120 14128 14194 USD [+]
GDP per capita PPP 20046.90 20085 20147 20159 20170 20257 USD [+]
GDP From Agriculture 10632043.00 10057825 12608999 10681039 9463137 12400806 UYU Thousand [+]
GDP From Construction 7733890.00 8031775 8453943 7838725 8220845 8318734 UYU Thousand [+]
GDP From Manufacturing 20924202.00 22579007 23565186 21457965 22025559 22743668 UYU Thousand [+]
GDP From Services 22482057.00 23214273 25412955 24265245 23382324 25976587 UYU Thousand [+]
GDP From Transport 33044690.00 33409548 34452066 34893217 35491442 40559764 UYU Thousand [+]
GDP From Utilities 4534025.00 4265652 4009813 4057369 4100886 4098065 UYU Thousand [+]
LABOUR Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Unemployment Rate 7.84 8.3 8.4 8.1 8.1 8.7 percent [+]
Employment Rate 57.33 57.72 57.73 57.73 57.73 57.73 percent [+]
Wages 16609.78 17545 18184 18561 18938 28617 UYU/Month [+]
Wages in Manufacturing 277.05 279 286 292 298 358 Index Points [+]
Population 3.48 3.6 3.6 3.6 3.6 3.51 million [+]
PRICES Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Inflation Rate 5.45 4.8 4.9 4.4 4.6 8.5 percent [+]
Consumer Price Index CPI 171.10 173 176 174 174 200 Index Points [+]
Inflation Rate Mom 0.77 0.55 0.51 0.49 0.49 0.49 percent [+]
Food Inflation 0.70 1.23 3.54 5.73 7.31 9.11 percent [+]
GDP Deflator 239.25 247 251 254 258 292 Index Points [+]
CPI Housing Utilities 182.21 182 182 182 182 181 Index Points [+]
CPI Transportation 162.89 163 163 163 163 161 Index Points [+]
MONEY Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Interest Rate 9.25 9.25 9 9 9 8.5 percent [+]
Interbank Rate 1.45 1.45 1.46 1.46 1.46 1.46 percent [+]
Money Supply M0 49199.00 47542 47409 47383 47378 47378 UYU Million [+]
Money Supply M1 135616.00 129259 129196 129193 129198 129198 UYU Million [+]
Money Supply M2 262496.00 249419 249280 249259 249258 249261 UYU Million [+]
Foreign Exchange Reserves 14376.50 14754 14846 14860 14862 14863 USD Million [+]
Loans to Private Sector 1169.65 1170 1170 1170 1170 1170 USD Thousand [+]
Deposit Interest Rate 5.60 6.91 8.3 7.67 7.03 5.25 percent [+]
Central Bank Balance Sheet 109103.00 95214 95859 95907 95864 95856 UYU Million [+]
TRADE Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Balance of Trade 200395.00 -10156 -27863 -25687 -25531 -25560 USD Thousand [+]
Exports 803235.00 677417 586979 650186 666836 648937 USD Thousand [+]
Imports 602840.00 628100 622767 622650 622973 622936 USD Thousand [+]
Current Account 446.60 157 128 335 223 233 USD Million [+]
Current Account to GDP -0.20 -2.17 -2.39 -2.07 -1.74 -1.23 percent [+]
External Debt 24415.97 24081 23551 23470 23406 23105 USD Million [+]
Capital Flows -1797.40 57.39 86.3 -675 96.43 180 USD Million [+]
Remittances 122.03 117 114 113 112 90.85 USD Million [+]
Tourism Revenues 1089044.35 531362 526876 527261 527228 527230 USD Thousand [+]
Gold Reserves 0.10 0.09 0.1 0.09 0.1 0.09 Tonnes [+]
Terrorism Index 0.00 0.1 0.1 0.11 0.12 0.16 [+]
Foreign Direct Investment 119.50 258 250 257 258 256 USD Million [+]
GOVERNMENT Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Government Debt to GDP 52.70 50.76 51.01 49.57 48.13 34.21 percent [+]
Government Budget -3.20 -1.76 -1.52 -1.49 -1.46 -1.62 percent of GDP [+]
Government Budget Value -3337.94 -10238 -10531 -9863 -10264 -10092 UYU Million [+]
Government Spending 17400351.78 17990312 18334865 18193330 17917067 18343128 UYU Thousand [+]
Government Revenues 26853.36 30325 30510 30498 30487 30484 UYU Million [+]
Fiscal Expenditure 43424.07 47807 46064 45193 44780 44457 UYU Million [+]
Military Expenditure 980.40 978 976 977 977 983 USD Million [+]
BUSINESS Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Industrial Production -18.30 -9.5 -2.99 0.88 2.64 3.73 percent [+]
Changes in Inventories -583893.41 257023 146556 86042 25529 -41867 UYU THO [+]
Steel Production 5.00 5.49 5.53 5.54 5.54 5.54 Thousand Tonnes [+]
Competitiveness Index 4.17 4.18 4.18 4.19 4.2 4.13 Points [+]
Competitiveness Rank 73.00 68 68 68 68 71 [+]
Corruption Index 71.00 73 72 72 72 71 Points [+]
Corruption Rank 21.00 22 22 22 22 24 [+]
Ease of Doing Business 90.00 88 87 87 86 87 [+]
CONSUMER Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Retail Sales YoY 18.02 16.05 16.05 16.05 16.05 16.05 percent [+]
Consumer Spending 128586983.61 132124312 134960743 127734336 129309216 140596945 UYU Thousand [+]
Gasoline Prices 1.60 1.58 1.56 1.55 1.54 1.46 USD/Liter [+]
HOUSING Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Housing Index 273.05 261 261 261 261 261 Index Points [+]
TAXES Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Corporate Tax Rate 25.00 24.99 24.99 24.99 24.99 24.99 percent [+]
Personal Income Tax Rate 30.00 30 30 30 30 30 percent [+]
Sales Tax Rate 22.00 22 22 22 22 22 percent [+]
Social Security Rate 35.75 35.43 35.33 35.33 35.33 35.11 percent [+]
Social Security Rate For Companies 12.63 12.63 12.63 12.63 12.63 12.63 percent [+]
Social Security Rate For Employees 23.13 22.55 22.36 22.36 22.36 21.79 percent [+]