Uruguay: Economy
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Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income |
High Income |
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Level of Development
Source: United Nations Possible values: Developed, In Transition and Developing |
Developing |
| Economic Trivia | Uruguay was the only country in the Americas that managed to avoid a recession during the global financial crisis of 2008-2009. |
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Trade
Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. |
Top 3 Trade Partners (2021): China, Brazil, and Argentina |
| Top Industries Source: CIA World Factbook | Food Processing; Electrical Machinery; Transportation Equipment; Petroleum Products |
Gross Domestic Product (GDP) [1]
| GDP, PPP (current international) | $98,720,175,603 (2022) |
| GDP Growth Rate (annual %) | 4.922% (2022) |
| GDP Per Capita, PPP (current international) | $28,842 (2022) |
GDP Country Rank 96/197 (2022)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | 9.104% (2022) |
| External debt stocks, total (DOD, current US$) | $14,349,584,000 (2011) |
| Total tax rate (% of commercial profits) | 41.8% (2019) |
| Real Interest Rate (5 year average %) | 6.18% (2022) |
| Manufacturing, value added (% of GDP) | 10.358% (2022) |
| Current Account Balance (BoP, current US$) | ($2,268,140,783) (2022) |
Labor and Employment [1]
| Labor Force, Total | 1,757,161 (2022) |
| Employment in Agriculture (% of total employment) | 8.424% (2021) |
| Employment in Industry (% of total employment) | 18.95% (2021) |
| Employment in Services (% of total employment) | 72.626% (2021) |
| Unemployment Rate | 7.841% (2022) |
Trade [1]
| Imports of goods and services (current US$) | $18,413,033,218 (2022) |
| Exports of goods and services (current US$) | $22,294,271,155 (2022) |
| Total Merchandise Trade (% of GDP) | 34.014% (2022) |
| FDI, net inflows (BoP, current US$) | $9,403,623,363 (2022) |
| Commercial Service Exports (current US$) | $5,385,497,348 (2022) |
Economic Snapshot [1]
Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.
How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Uruguay’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.