Uruguay Manufacturing Extends Slide in October

Uruguay’s manufacturing output was essentially unchanged egding 0.002% lower year-on-year in November 2025, following a 5.3% decline in October. The downward pressure came from paper and paper products (-14.0%), followed by products of rubber and plastic (-12.3%) and products derived from metal, excluding machinery and equipment (-17.1%). In contrast, production rose in beverages (+11.6%), chemicals (+10.2%), and machinery and equipment, which increased 28.8%. Labor indicators also weakened: the Hours Worked Index fell 1.8% and the Employed Personnel Index dropped 0.9%.

Uruguay’s manufacturing output fell 5.3% year-on-year in October 2025, following a 5.2% decline in September. The steepest drag came from paper and paper products (-16.8%), followed by petroleum refining (-31.8%) and food manufacturing (-3.2%). In contrast, production rose in beverages (9.3%), chemicals (4%), and machinery and equipment, which surged 51.4%. Labor indicators also weakened: the Hours Worked Index fell 1.6% and the Employed Personnel Index dropped 3.4%.

Uruguay’s manufacturing output fell 5.2% year-on-year in September 2025, following a 6.3% contraction in August. Output of petroleum refining plunged 98.9%, as ANCAP’s refinery remained offline throughout the month due to repairs on the José Ignacio oil buoy. Other significant declines were recorded in motor vehicles, trailers, and semi-trailers manufacturing (-54.9%) and paper and paper products (-6.2%). Offsetting part of the downturn, pharmaceutical output surged 22.7%, while beverage production and electrical equipment manufacturing rose 16.6% and 34.1%, respectively. Meanwhile, the Index of Hours Worked increased 0.5%, while the Index of Employed Personnel fell 1.7%.