Key Facts

GDP (ppp) per CAPITA

$12,400 (2008 est.)

Inflation Rate

7.9% (2008)

Population

3,494,382 (July 2009 est.)

Country Risk Ratings

B

Ease of Doing Business

109/181

Global Competitiveness

4.04/134

Country Map

View Larger Map

gE Network

There are 11 members in the
gE Network for this country.

Uruguay : Introduction

Montevideo, founded by the Spanish in 1726 as a military stronghold, soon took advantage of its natural harbor to become an important commercial center. Claimed by Argentina but annexed by Brazil in 1821, Uruguay declared its independence four years later and secured its freedom in 1828 after a three-year struggle. The administrations of President Jose BATLLE in the early 20th century established widespread political, social, and economic reforms that established a statist tradition. A violent Marxist urban guerrilla movement named the Tupamaros, launched in the late 1960s, led Uruguay's president to cede control of the government to the military in 1973. By yearend, the rebels had been crushed, but the military continued to expand its hold over the government. Civilian rule was not restored until 1985. In 2004, the left-of-center Frente Amplio Coalition won national elections that effectively ended 170 years of political control previously held by the Colorado and Blanco parties. Uruguay's political and labor conditions are among the freest on the continent.

Uruguay: Bolsa Electronica de Valores del Uruguay S.A.

(Spanish with limited English content)

Uruguay: Central Bank of Uruguay

Established in 1967, this bank is the major financial institution in the country. The Central Bank of Uruguay is in charge of issuing bills and acts as the financial advisor of the government. The site has economic and financial information, relevant statistics and various economic publications. Site is available in English and Spanish.

Uruguay: Chamber of Commerce and Services

The Uruguay Chamber of Commerce and Services aims to provide action in defense, promotion and counseling of the private business sector all over the country. The site provides information on law, foreign trade, events and member unions. Available in English, Spanish and Portuguese.

Sources:
CIA World Factbook (September 2009)
U.S. Dept. of State Country Background Notes (March 2009)