| Introduction - Uruguay: |
| Location - Uruguay: |
| People - Uruguay: |
| Government - Uruguay: |
| Economy - Uruguay: |
Economy overview | Uruguays well-to-do economy is characterized by an export-oriented agricultural sector, a well-educated work force, and high levels of social spending. After averaging growth of 5% annually during 1996-98, in 1999-2002 the economy suffered a major downturn, stemming largely from the spillover effects of the economic problems of its large neighbors, Argentina and Brazil. For instance, in 2001-02 Argentina made massive withdrawals of dollars deposited in Uruguayan banks, which led to a plunge in the Uruguayan peso and a massive rise in unemployment. Total GDP in these four years dropped by nearly 20%, with 2002 the worst year due to the banking crisis. The unemployment rate rose to nearly 20% in 2002, inflation surged, and the burden of external debt doubled. Cooperation with the IMF helped stem the damage. A debt swap with private-sector creditors in 2003 extended the maturity dates on nearly half of Uruguays then $11.3 billion of public debt and helped restore public confidence. The economy grew about 12% in 2004 as a result of high commodity prices for Uruguayan exports, a competitive peso, growth in the region, and low international interest rates, and it continued to grow nearly 7% annually in 2005 and 2006. |
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Gdp purchasing power parity | $37.54 billion (2006 est.) |
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Gdp official exchange rate | $14.5 billion (2006 est.) |
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Gdp real growth rate | 7% (2006 est.) |
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Gdp per capita ppp | $10,900 (2006 est.) |
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Gdp composition by sector | agriculture: 9.3%
industry: 33.7%
services: 57% (2006 est.) |
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Labor force | 1.27 million (2006 est.) |
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Labor force by occupation | agriculture: 14%
industry: 16%
services: 70% |
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Unemployment rate | 10.8% (2006 est.) |
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Population below poverty line | 27.37% of households (2006) |
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Household income or consumption by percentage share | lowest 10%: 3.7%
highest 10%: 25.8% (1997) |
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Distribution of family income gini index | 45.2 (2006) |
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Inflation rate consumer prices | 6.5% (2006 est.) |
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Investment gross fixed | 13.6% of GDP (2006 est.) |
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Budget | revenues: $5.203 billion
expenditures: $5.449 billion; including capital expenditures of $193 million (2006 est.) |
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Public debt | 70.6% of GDP (2006 est.) |
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Agriculture products | rice, wheat, corn, barley; livestock; fish |
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Industries | food processing, electrical machinery, transportation equipment, petroleum products, textiles, chemicals, beverages |
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Industrial production growth rate | 12.6% (2006 est.) |
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Electricity production | 8.183 billion kWh (2004) |
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Electricity consumption | 9.939 billion kWh (2004) |
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Electricity exports | 19 million kWh (2004) |
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Electricity imports | 2.348 billion kWh (2004) |
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Oil production | 513.5 bbl/day (2004 est.) |
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Oil consumption | 38,100 bbl/day (2004 est.) |
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Oil exports | NA bbl/day |
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Oil imports | NA bbl/day |
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Oil proved reserves | 0 bbl |
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Natural gas production | 0 cu m (2004 est.) |
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Natural gas consumption | 120 million cu m (2004 est.) |
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Natural gas exports | 0 cu m (2004 est.) |
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Natural gas imports | 120 million cu m (2004 est.) |
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Current account balance | -$600 million (2006 est.) |
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Exports | $3.993 billion f.o.b. (2006 est.) |
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Exports commodities | meat, rice, leather products, wool, fish, dairy products |
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Exports partners | Brazil 14%, US 12.3%, Argentina 8.2%, China 6.1%, Germany 5%, Russia 5%, Mexico 4.3% (2006) |
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Imports | $4.532 billion f.o.b. (2006 est.) |
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Imports commodities | machinery, chemicals, road vehicles, crude petroleum |
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Imports partners | Brazil 17.2%, Argentina 16.4%, US 8.9%, Paraguay 7.8%, China 7.5%, Venezuela 5.2%, Nigeria 4.8% (2006) |
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Reserves of foreign exchange and gold | $5.518 billion (October 2006 est.) |
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Debt external | $11.4 billion (30 September 2006 est.) |
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Economic aid recipient | $NA |
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Currency code | Uruguayan peso (UYU) |
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Exchange rates | Uruguayan pesos per US dollar - 24.048 (2006), 24.479 (2005), 28.704 (2004), 28.209 (2003), 21.257 (2002) |
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| Communications - Uruguay: |
| Transportation - Uruguay: |
| Military - Uruguay: |
This page was last updated on 16 September, 2007
