Uruguay’s gross domestic product expanded by 3.7 percent year-on-year in the third quarter of 2022, easing from the upwardly revised 7.7 percent in the previous period. It was the sixth consecutive quarter of growth, albeit the slowest in the sequence, as the Uruguayan economy continued to recover from the impact of the Covid pandemic. Household consumption continued to grow sharply (7 percent vs 6.4 percent), while net foreign demand contributed positively to the GDP as exports rose by 18.9 percent and imports increased by 18.8 percent, adding 0.8 percentage points to the GDP growth. In the meantime, gross fixed capital formation advanced at a slower 10.1 percent from the 13.4 percent in Q2. On the other hand, government expenditure contracted by 3.9 percent after expanding by 4.7 percent in the previous period. source: Banco Central del Uruguay
GDP Annual Growth Rate in Uruguay averaged 2.31 percent from 1998 until 2022, 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 February of 2023.
GDP Annual Growth Rate in Uruguay is expected to be 1.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.