Uruguay’s gross domestic product expanded 5.9 percent year-on-year in the last quarter of 2021, easing from a 6.2 percent expansion in the previous period. The output growth slowed as the low base effects due to the pandemics started to fade. Gross fixed capital formation expanded at a softer rate (9.8 percent vs 19 percent in Q3) while government spending slowed (6.0 percent vs 9.4 percent). Meanwhile, private consumption rose faster (4.5 percent vs 2.3 percent). Regarding net trade, exports rose 26.3 percent (from 24.8 percent in Q3) while imports surged 25.5 percent (from 28 percent in Q3). On a seasonally adjusted quarterly basis, the economy expanded 2.4%, easing from a revised 3.4% jump in the prior quarter. For full 2021, the economy expanded 4.4%. source: Banco Central del Uruguay
GDP Annual Growth Rate in Uruguay averaged 2.18 percent from 1998 until 2021, reaching an all time high of 10.50 percent in the second quarter of 2010 and a record low of -13.60 percent in the second quarter of 2020. 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. Uruguay GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on May of 2022.
GDP Annual Growth Rate in Uruguay is expected to be 3.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Uruguay GDP Annual Growth Rate is projected to trend around 2.50 percent in 2023 and 1.50 percent in 2024, according to our econometric models.