The economy of Uruguay grew 0.9 percent year-on-year in the third quarter of 2019, after stalling in the previous period. It was the strongest growth rate in a year, boosted by manufacturing (2.7 percent from -1.8 percent in Q2); and other activities (1 percent vs 0.1 percent). Also, construction output shrank 3.6 percent, less than a 4.7 percent contraction in the prior quarter. On the other hand, a slowdown was recorded in transport, storage and communications (3.5 percent from 5 percent); and utilities (1.2 percent from 3.8 percent). Also, agriculture, livestock, hunting and forestry activities shrank 8 percent, after expanding 1.2 percent in the second quarter of the year; while trade, repair, restaurant and hotels stalled, following a 2.6 percent contraction. On a seasonally adjusted quarterly basis, the economy grew 0.6 percent.

GDP Annual Growth Rate in Uruguay averaged 2.56 percent from 1998 until 2019, reaching an all time high of 10.50 percent in the second quarter of 2010 and a record low of -9.30 percent in the third quarter of 2002. This page provides the latest reported value for - Uruguay GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. source: Banco Central del Uruguay

GDP Annual Growth Rate in Uruguay is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Uruguay to stand at 1.10 in 12 months time. In the long-term, the Uruguay GDP Annual Growth Rate is projected to trend around 2.80 percent in 2020, according to our econometric models.

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Uruguay GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.90 0.00 10.50 -9.30 1998 - 2019 percent Quarterly
NSA, 2005=100

Calendar GMT Actual Previous Consensus TEForecast
2019-03-29 09:30 PM Q4 0.6% 1.8% 2.7%
2019-06-18 10:05 PM Q1 -0.2% 0.6% 0.8%
2019-09-17 09:00 PM Q2 0.1% -0.3% 0.1%
2019-12-17 11:00 PM Q3 0.9% 0.0% 0.7%
2020-03-31 10:00 PM Q4 0.9% 0.5%
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News Stream
2019-09-17
Uruguay Economy Expands 0.1% in Q2
The economy of Uruguay grew 0.1 percent year-on-year in the second quarter of 2019, following an upwardly revised 0.3 percent contraction in the previous period. Agriculture, livestock, hunting and forestry activities expanded 0.9 percent, after shrinking 0.5 percent in the first three months of the year. Also, output increased further in transport & communications (5.5 percent vs 5.1 percent in Q1); and financial intermediation services (3.4 percent vs 3 percent). Additionally, output shrank less in manufacturing (-1.9 percent vs -2.6 percent); and trade, repairs, restaurants & hotels (-2.6 percent vs -5.9 percent). Meanwhile, the construction sector contracted 4.7 percent, faster than a 3.5 percent decline in the prior quarter and utilities output growth slowed (3.5 percent vs 12.5 percent). On a quarterly basis, the economy advanced 0.3 percent, rebounding from a 0.1 percent contraction in the first quarter of 2019.

2019-06-18
Uruguay Economy Contracts for 1st Time Since 2015
The economy of Uruguay shrank 0.2 percent year-on-year in the first quarter of 2019, following a 0.6 percent expansion in the previous period. It was the first contraction since the last quarter of 2015, as output shrank in primary activity (-0.1 percent vs 8 percent in Q4) and other activities (-0.4 percent vs 0.3 percent). Also, output declined further in trade and restaurants & hotels (-6.9 percent vs -6 percent) and construction (-3 percent vs -1.8 percent). Additionally, growth slowed in transport, storage & communications (5.3 percent vs 8.6 percent); and utilities (21.1 percent vs 21.7 percent). Meanwhile, manufacturing activity contracted 2.5 percent, after shrinking 4.1 percent in the last quarter of 2018. On a quarterly basis, the economy stalled, following an upwardly revised 0.2 percent contraction in the prior period.

2019-03-29
Uruguay GDP Growth Eases to Near 3-Year Low
The economy of Uruguay grew 0.6 percent year-on-year in the fourth quarter of 2018, the least since the first quarter of 2016, following a 1.8 percent expansion in the previous three-month period. Output growth was supported mainly by utilities (21.7 percent vs 1.6 percent in Q3); transport & communication (8.6 percent vs 6.3 percent); agriculture (8.3 percent vs 9.5 percent); financial intermediation services (2 percent vs 1.3 percent). By contrast, trade, restaurants & hotels contracted sharply (-6 percent vs -1.9 percent), as well as manufacturing (-4.1 percent vs 4.1 percent).


Uruguay GDP Annual Growth Rate
The biggest sector of Uruguay´s economy is services. Financing, real estate, business, public and personal services, education and health; trade, repairs, restaurants and hotels and transport, communication and warehousing account for 55 percent of the GDP. Industry and mining create 26 percent of the wealth and construction and water, electricity and gas distribution 12 percent. Agriculture, hunting, forestry and fishing account for the remaining 7 percent of GDP.