The economy of Uruguay grew 0.6 percent year-on-year in the fourth quarter of 2018, the least since the first quarter of 2016, following a 1.8 percent expansion in the previous three-month period. Output growth was supported mainly by utilities (21.7 percent vs 1.6 percent in Q3); transport & communication (8.6 percent vs 6.3 percent); agriculture (8.3 percent vs 9.5 percent); financial intermediation services (2 percent vs 1.3 percent). By contrast, trade, restaurants & hotels contracted sharply (-6 percent vs -1.9 percent), as well as manufacturing (-4.1 percent vs 4.1 percent). GDP Annual Growth Rate in Uruguay averaged 2.65 percent from 1998 until 2018, reaching an all time high of 10.50 percent in the second quarter of 2010 and a record low of -9.30 percent in the third quarter of 2002.
GDP Annual Growth Rate in Uruguay is expected to be 0.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Uruguay to stand at 2.40 in 12 months time. In the long-term, the Uruguay GDP Annual Growth Rate is projected to trend around 3.30 percent in 2020, according to our econometric models.