Uruguay's gross domestic product expanded 8.3 percent year-on-year in the first quarter of 2022, accelerating from a 5.9 percent growth in the previous period. It was the the highest growth in economic activity since second quarter of 2021, underpinned by the partial normalization of tourism activity, external demand and some large construction projects. Household consumption grew at a faster pace (4.5 percent vs 2.8 percent in Q4); while the gross fixed capital formation rose slightly (2.1 percent vs 2 percent).In contrast, government expenditure softened (0.8 percent vs 1 percent). Regarding net external demand, exports grew at a slower 5.8 percent (vs 6.1 percent in Q4) while imports fell at a softer pace (-3.7 percent vs -5.7 percent). On a seasonally adjusted quarterly basis, the economy advanced 0.6 percent, easing sharply from a 2 percent gain in the previous quarter. source: Banco Central del Uruguay

GDP Annual Growth Rate in Uruguay averaged 2.24 percent from 1998 until 2022, reaching an all time high of 10.50 percent in the second quarter of 2010 and a record low of -13.60 percent in the second quarter of 2020. This page provides the latest reported value for - Uruguay GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Uruguay GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2022.

GDP Annual Growth Rate in Uruguay is expected to be 3.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Uruguay GDP Annual Growth Rate is projected to trend around 2.50 percent in 2023 and 1.50 percent in 2024, according to our econometric models.

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Uruguay GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-03-24 10:30 AM Q4 5.9% 6.2% 3.1%
2022-06-23 09:00 PM Q1 8.3% 5.9% 5.0%
2022-09-30 10:00 PM Q2 8.3% 3.5%


Related Last Previous Unit Reference
GDP Growth Rate 0.60 2.00 percent Mar 2022
GDP Annual Growth Rate 8.30 5.90 percent Mar 2022
GDP Constant Prices 444308.00 469226.00 UYU Thousand Mar 2022
Gross Fixed Capital Formation 69887.43 100085.93 UYU Thousand Mar 2022
GDP From Utilities 11894.00 12094.00 UYU Thousand Mar 2022
GDP From Transport 40431.00 42946.00 UYU Thousand Mar 2022
GDP From Services 57736.00 59965.00 UYU Thousand Mar 2022
GDP From Manufacturing 43840.00 50014.00 UYU Thousand Mar 2022
GDP From Construction 19937.00 24981.00 UYU Thousand Mar 2022
GDP From Agriculture 32984.00 24580.00 UYU Thousand Dec 2021

Uruguay GDP Annual Growth Rate
The biggest sector of Uruguay´s economy is services. Financing, real estate, business, public and personal services, education and health; trade, repairs, restaurants and hotels and transport, communication and warehousing account for 55 percent of the GDP. Industry and mining create 26 percent of the wealth and construction and water, electricity and gas distribution 12 percent. Agriculture, hunting, forestry and fishing account for the remaining 7 percent of GDP.
Actual Previous Highest Lowest Dates Unit Frequency
8.30 5.90 10.50 -13.60 1998 - 2022 percent Quarterly
NSA, 2016=100

News Stream
Uruguay Economy Expands the Most in 3 Quarters
Uruguay's gross domestic product expanded 8.3 percent year-on-year in the first quarter of 2022, accelerating from a 5.9 percent growth in the previous period. It was the the highest growth in economic activity since the second quarter of 2021, underpinned by the partial normalization of tourism activity, external demand and some large construction projects. Household consumption grew at a faster pace (4.5 percent vs 2.8 percent in Q4); while the gross fixed capital formation rose slightly (2.1 percent vs 2 percent).In contrast, government expenditure softened (0.8 percent vs 1 percent). Regarding net external demand, exports grew at a slower 5.8 percent (vs 6.1 percent in Q4) while imports fell at a softer pace (-3.7 percent vs -5.7 percent). On a seasonally adjusted quarterly basis, the economy advanced 0.6 percent, easing sharply from a 2 percent gain in the previous quarter.
2022-06-23
Uruguay Economy Grows 4.4% in 2021
Uruguay’s gross domestic product expanded 5.9 percent year-on-year in the last quarter of 2021, easing from a 6.2 percent expansion in the previous period. The output growth slowed as the low base effects due to the pandemics started to fade. Gross fixed capital formation expanded at a softer rate (9.8 percent vs 19 percent in Q3) while government spending slowed (6.0 percent vs 9.4 percent). Meanwhile, private consumption rose faster (4.5 percent vs 2.3 percent). Regarding net trade, exports rose 26.3 percent (from 24.8 percent in Q3) while imports surged 25.5 percent (from 28 percent in Q3). On a seasonally adjusted quarterly basis, the economy expanded 2.4%, easing from a revised 3.4% jump in the prior quarter. For full 2021, the economy expanded 4.4%.
2022-03-24
Uruguay GDP Growth Eases From Record High
Uruguay’s gross domestic product expanded 5.9 percent year-on-year in the third quarter of 2021, easing from an upwardly revised record high of 11.4 percent in the previous period. The output growth slowed as the low base effects due to the pandemics started to fade. Consumer spending rose 2 percent (vs 8.1 percent in Q2), government expenditure increased 14.6 percent (vs 18.7 percent), and gross fixed capital formation jumped 17.1 percent (vs 29 percent). Meanwhile, the net external demand contributed positively to the GDP as exports soared 28.5 percent (vs 26.5 percent) and imports advanced 27.6 percent (vs 36.8 percent).
2021-12-30