Uruguay's economy shrank 9 percent quarter-on-quarter in the three months to June 2020, following a 1.6 percent drop in the previous period. It was the second quarterly contraction and the sharpest on record, officially entering a recession amid the coronavirus pandemic.
GDP Growth Rate in Uruguay averaged 0.54 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 -9 percent in the second quarter of 2020. This page provides the latest reported value for - Uruguay GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Uruguay GDP Growth Rate - values, historical data and charts - was last updated on October of 2020.
GDP Growth Rate in Uruguay is expected to be 0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Uruguay to stand at 0.80 in 12 months time. In the long-term, the Uruguay GDP Growth Rate is projected to trend around 0.70 percent in 2021 and 1.10 percent in 2022, according to our econometric models.