The Gross Domestic Product (GDP) in Uruguay expanded 0.60 percent in the third quarter of 2019 over the previous quarter. GDP Growth Rate in Uruguay averaged 0.68 percent from 1997 until 2019, reaching an all time high of 8.80 percent in the second quarter of 1997 and a record low of -5.60 percent in the third quarter of 2002.

GDP Growth Rate in Uruguay is expected to be 1.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Uruguay to stand at 0.70 in 12 months time. In the long-term, the Uruguay GDP Growth Rate is projected to trend around 1.30 percent in 2020, according to our econometric models.

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Uruguay GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.60 0.30 8.80 -5.60 1997 - 2019 percent Quarterly

Uruguay GDP Growth Rate
In the last decade, Uruguay has been one of the fastest growing economies in Latin America. After the 2002 crisis, the country has returned to high growth rates, expanding on average 1.3 percent from 2005 to 2012 on a quarter over quarter basis. Uruguay has an export-oriented agricultural sector. Shipments of meat, vegetables, rice and dairy products account for 52 percent of total exports. Nevertheless, in order to keep the current pace of growth the country needs to diversify its economy and reduce the debt burden.

Uruguay GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.60 0.30 8.80 -5.60 percent [+]
GDP Annual Growth Rate 0.90 0.00 10.50 -9.30 percent [+]
GDP 59.60 56.49 59.60 1.24 USD Billion [+]
GDP Constant Prices 178132898.00 173254652.00 184176642.00 100499529.00 UYU Thousand [+]
Gross Fixed Capital Formation 27977815.72 27343791.54 40507924.70 14555321.07 UYU Thousand [+]
GDP per capita 14617.50 14437.40 14617.50 5248.90 USD [+]
GDP per capita PPP 20916.20 20658.50 20916.20 9841.90 USD [+]
GDP From Agriculture 9596398.69 9383381.08 13085326.42 7382498.05 UYU Thousand [+]
GDP From Construction 7666701.00 7176233.00 9622465.00 5011317.00 UYU Thousand [+]
GDP From Manufacturing 22968770.00 22087325.00 24134912.00 13963944.00 UYU Thousand [+]
GDP From Services 22769555.00 21572071.00 26176332.00 12796459.00 UYU Thousand [+]
GDP From Transport 37499189.00 37428731.00 37597219.00 8622185.00 UYU Thousand [+]
GDP From Utilities 4562994.00 4326301.00 4813850.00 399763.00 UYU Thousand [+]