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 Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 1.50 0.5 0.6 0.3 0.3 1 percent [+]
Unemployment Rate 9.00 7.5 8.3 8.4 8.1 8.7 percent [+]
Inflation Rate 6.46 9.8 10 10.2 9.8 8.5 percent [+]
Interest Rate 9.25 9.25 9.5 9.5 9.5 8.5 percent [+]
Balance of Trade -286656.00 -117881 -98293 -98201 -98344 -98350 USD Thousand [+]
Government Debt to GDP 47.80 46.55 47.95 49.35 49.35 49.38 percent [+]
MARKETS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Currency 28.21 28.89 29.17 30.03 29.74 34.32 [+]
GDP Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 1.50 0.5 0.6 0.3 0.3 1 percent [+]
GDP Annual Growth Rate 3.40 1.4 1.5 1.6 2 2.4 percent [+]
GDP 53.44 55 55 55 50.64 66 USD Billion [+]
GDP Constant Prices 180308664.40 169445623 173025256 183740413 175219910 190611314 UYU Thousand [+]
Gross Fixed Capital Formation 35068984.00 38395519 33956444 35634095 32997453 34941522 UYU Thousand [+]
GDP per capita 13943.90 14035 14195 14195 13947 13891 USD [+]
GDP per capita PPP 19952.25 20157 20120 20084 20100 20188 USD [+]
GDP From Agriculture 10085215.00 8890287 10186836 12696903 9821104 12446818 UYU Thousand [+]
GDP From Construction 8532040.00 8045265 7739712 8310086 7338629 8085992 UYU Thousand [+]
GDP From Manufacturing 24054923.00 22769173 23237421 23966393 22971874 23582681 UYU Thousand [+]
GDP From Services 24575819.00 22130663 23178657 24710791 22833941 24623024 UYU Thousand [+]
GDP From Transport 31934257.00 32961609 33374815 34535799 34863894 40515892 UYU Thousand [+]
GDP From Utilities 3876915.00 3727145 3890455 3908653 3888478 3855663 UYU Thousand [+]
LABOUR Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Unemployment Rate 9.00 7.5 8.3 8.4 8.1 8.7 percent [+]
Employment Rate 57.96 58 58 58 58 58 percent [+]
Wages 16609.78 16906 17545 18184 18561 28617 UYU/Month [+]
Wages in Manufacturing 265.58 272 278 283 289 352 Index Points [+]
Population 3.48 3.48 3.48 3.48 3.49 3.51 million [+]
PRICES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Inflation Rate 6.46 9.8 10 10.2 9.8 8.5 percent [+]
Consumer Price Index CPI 168.78 170 173 176 174 200 Index Points [+]
Inflation Rate Mom 0.22 0.65 0.58 0.57 0.57 0.57 percent [+]
Food Inflation 3.50 3.03 2.83 2.79 2.78 2.78 percent [+]
GDP Deflator 234.27 243 246 249 253 289 Index Points [+]
Cpi Housing Utilities 180.25 183 186 190 193 229 Index Points [+]
Cpi Transportation 162.52 163 164 165 165 165 Index Points [+]
MONEY Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Interest Rate 9.25 9.25 9.5 9.5 9.5 8.5 percent [+]
Interbank Rate 1.42 1.42 1.44 1.45 1.45 1.45 percent [+]
Money Supply M0 47813.00 48742 48689 48702 48719 48727 UYU Million [+]
Money Supply M1 129144.00 130131 130240 130221 130235 130243 UYU Million [+]
Money Supply M2 249625.00 252031 251355 251257 251254 251269 UYU Million [+]
Foreign Exchange Reserves 12689.40 12518 12487 12481 12480 12480 USD Million [+]
Loans to Private Sector 1167.88 1168 1168 1168 1168 1168 USD Thousand [+]
Deposit Interest Rate 5.60 5.52 6.91 8.3 7.67 5.25 percent [+]
Central Bank Balance Sheet 91198.00 95850 95214 95859 95907 95856 UYU Million [+]
TRADE Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Balance of Trade -286656.00 -117881 -98293 -98201 -98344 -98350 USD Thousand [+]
Exports 501888.00 601354 599735 568769 573627 578297 USD Thousand [+]
Imports 703657.00 609378 619787 622490 621946 621867 USD Thousand [+]
Current Account -117.00 -39.74 2 -44.75 -3.11 -17.2 USD Million [+]
Current Account to GDP -3.60 -4.07 -3.39 -2.71 -3.14 -3.01 percent [+]
External Debt 26149.25 26107 25860 25690 25773 25601 USD Million [+]
Capital Flows 457.20 4.77 268 252 5.31 289 USD Million [+]
Remittances 122.03 120 117 114 113 90.85 USD Million [+]
Tourism Revenues 509114.62 279542 304514 527883 805201 547472 USD Thousand [+]
Gold Reserves 0.10 0.08 0.07 0.07 0.05 0.01 Tonnes [+]
Terrorism Index 0.00 0.1 0.1 0.1 0.11 0.16 [+]
Foreign Direct Investment 283.40 268 258 250 257 256 USD Million [+]
GOVERNMENT Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Government Debt to GDP 47.80 46.55 47.95 49.35 49.35 49.38 percent [+]
Government Budget -2.10 -2.01 -1.76 -1.52 -1.49 -1.62 percent of GDP [+]
Government Budget Value -8952.46 -9050 -7942 -8563 -8075 -8286 UYU Million [+]
Government Spending 18342319.11 17908035 18071519 18474136 18485928 18718351 UYU Thousand [+]
Government Revenues 31070.72 29610 29352 29312 29307 29308 UYU Million [+]
Fiscal Expenditure 48930.75 46676 45566 45106 44945 44953 UYU Million [+]
Military Expenditure 1043.90 973 1004 1035 1018 994 USD Million [+]
BUSINESS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Industrial Production -11.60 -6.18 -0.88 2 3.33 4.3 percent [+]
Changes in Inventories -583893.41 367490 257023 146556 86042 -41867 UYU THO [+]
Steel Production 4.00 5.43 5.57 5.58 5.58 5.58 Thousand Tonnes [+]
Competitiveness Index 4.17 4.18 4.18 4.18 4.2 4.13 Points [+]
Competitiveness Rank 73.00 68 68 68 68 71 [+]
Ease of Doing Business 90.00 89 88 87 87 87 [+]
Corruption Index 71.00 74 73 72 72 71 Points [+]
Corruption Rank 21.00 22 22 22 22 24 [+]
CONSUMER Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Retail Sales YoY 18.02 16.05 16.05 16.05 16.05 16.05 percent [+]
Consumer Spending 131751051.05 130011953 129952288 129940166 129937703 129937075 UYU Thousand [+]
Gasoline Prices 1.63 1.63 1.66 1.68 1.7 1.74 USD/Liter [+]
HOUSING Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Housing Index 273.05 261 261 261 261 261 Index Points [+]
TAXES Actual Q2/17 Q3/17 Q4/17 Q1/18 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 35.54 35.43 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 22.74 22.55 22.36 22.36 21.79 percent [+]