Uruguay's industrial production jumped 16.1 percent year-on-year in September 2018, advancing from a 15.5 percent gain in the previous month. Output rose mainly for paper & paper products (4.2 percent); non-metallic minerals (21.2 percent); textiles (15.9 percent); clothing (26.3 percent); wood & wood products (3.5 percent); basic metals (0.5 percent) and rubber & plastic products (3.9 percent). On the other hand, production dropped 5.1 percent for food & beverages. Excluding oil refinery, namely La Teja refinery, the country's only oil producer, industrial activity declined 2.2 percent. Considering the first nine months of 2018, industrial production went up 14.8 percent. Industrial Production in Uruguay averaged 5.11 percent from 2003 until 2018, reaching an all time high of 57.25 percent in October of 2003 and a record low of -31.14 percent in January of 2003.
Industrial Production in Uruguay is expected to be 16.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Uruguay to stand at 23.00 in 12 months time. In the long-term, the Uruguay Industrial Production is projected to trend around 23.00 percent in 2020, according to our econometric models.