Uruguay’s gross domestic product expanded 11.3 percent year-on-year in the second quarter of 2021, rebounding from an upwardly revised 3 percent contraction in Q1. It was the first GDP growth since the third quarter of 2019, as consumer spending rebounded (8.1 percent vs -4.6 percent in Q1) and both government expenditure (17.2 percent vs 6.4 percent) and gross fixed capital formation (31.7 percent vs 9.8 percent) advanced faster. Meanwhile, exports climbed 23.7 percent (vs -11.8 percent in Q1) while imports jumped at a faster 36.2 percent (vs -3.3 percent in Q1). source: Banco Central del Uruguay

GDP Annual Growth Rate in Uruguay averaged 2.13 percent from 1998 until 2021, reaching an all time high of 11.30 percent in the second quarter of 2021 and a record low of -12.50 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 December of 2021.

GDP Annual Growth Rate in Uruguay is expected to be 1.00 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 1.50 percent in 2022, according to our econometric models.

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Uruguay GDP Annual Growth Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-07-02 03:00 PM Q1 -2.8% -2.9% -1.5%
2021-09-30 10:00 PM Q2 11.3% -3% 8%
2021-12-30 10:00 PM Q3 11.3%


Related Last Previous Unit Reference
GDP Growth Rate 7.80 -10.40 percent Sep/20
GDP Annual Growth Rate 11.30 -3.00 percent Jun/21
GDP Constant Prices 433042.00 416332.00 UYU Thousand Jun/21
Gross Fixed Capital Formation 79445.91 63413.87 UYU Thousand Jun/21
GDP From Utilities 11842.00 10864.00 UYU Thousand Jun/21
GDP From Transport 41169.00 35810.00 UYU Thousand Jun/21
GDP From Services 59806.00 53804.00 UYU Thousand Jun/21
GDP From Manufacturing 48255.00 41339.00 UYU Thousand Jun/21
GDP From Construction 20150.00 19196.00 UYU Thousand Jun/21
GDP From Agriculture 31621.00 27981.00 UYU Thousand Jun/21

News Stream
Uruguay GDP Grows for 1st Time since 2019
Uruguay’s gross domestic product expanded 11.3 percent year-on-year in the second quarter of 2021, rebounding from an upwardly revised 3 percent contraction in Q1. It was the first GDP growth since the third quarter of 2019, as consumer spending rebounded (8.1 percent vs -4.6 percent in Q1) and both government expenditure (17.2 percent vs 6.4 percent) and gross fixed capital formation (31.7 percent vs 9.8 percent) advanced faster. Meanwhile, exports climbed 23.7 percent (vs -11.8 percent in Q1) while imports jumped at a faster 36.2 percent (vs -3.3 percent in Q1).
2021-09-30
Uruguay Economy Remains in Recession
Uruguay’s gross domestic product fell 2.8 percent year-on-year in the first quarter of 2021, following a 2.9 percent decline in the previous period. This was the sixth consecutive quarter of contraction in GDP, as the country struggled with a growing pandemic after being considered a "success case" in 2020. Main downward pressure was reported in professional activities & leasing (-7.0 percent vs -1.4 percent); health, education, real estate and other activities (-6.9 percent vs -6.0 percent); commerce, accommodation and supply of food and beverages (-6.0 percent vs -8.4 percent); and transportation & storage, information & communication (-4.6 percent vs --0.8 percent). On the other hand, output increase in agriculture, fisheries and mining (10.4 percent vs 7.8 percent) and in construction (3.3 percent vs 7.5 percent). On a seasonally adjusted quarterly basis, the economy fell 0.5 percent.
2021-07-02
Uruguay Economy Shrinks 2.9% in Q4
Uruguay's gross domestic product shrank 2.9 percent year-on-year in the fourth quarter of 2020, after a downwardly revised 5.8 percent contraction in the previous period. This was the fifth straight quarter of contraction in the GDP, but the smallest decline in three quarters, amid the ongoing pandemic crisis. Decreases were reported in commerce, accommodation and supply of food and beverages (-8.4 percent vs -9.8 percent in Q3); health, education, real estate and other activities (-6.0 percent vs -6.1 percent); manufacturing (-2.6 percent vs -4.0 percent) and transportation & storage, information & communication (-0.8 percent vs -5.9 percent). By contrast, activity grew faster in agriculture, fisheries and mining (7.8 percent vs 3.1 percent), while construction activities rebounded sharply (7.5 percent vs -3.2 percent). For 2020 full year, the economy contracted by 5.9 percent, reversing from a 0.4 percent growth in 2019.
2021-03-25

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.