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.

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Uruguay GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2021-12-30 03:20 PM Q3 5.9% 11.4% 15%
2022-03-24 10:30 AM Q4 5.9% 6.2% 3.1%
2022-06-23 09:00 PM Q1 5.9% 5.0%


Related Last Previous Unit Reference
GDP Growth Rate 2.00 3.40 percent Dec 2021
GDP Annual Growth Rate 5.90 6.20 percent Dec 2021
GDP Constant Prices 469226.00 428803.00 UYU Thousand Dec 2021
Gross Fixed Capital Formation 100085.93 71306.32 UYU Thousand Dec 2021
GDP From Utilities 12094.00 12818.00 UYU Thousand Dec 2021
GDP From Transport 42946.00 40590.00 UYU Thousand Dec 2021
GDP From Services 59965.00 58778.00 UYU Thousand Dec 2021
GDP From Manufacturing 50014.00 47092.00 UYU Thousand Dec 2021
GDP From Construction 24981.00 19131.00 UYU Thousand Dec 2021
GDP From Agriculture 32984.00 24580.00 UYU Thousand Dec 2021

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.
Actual Previous Highest Lowest Dates Unit Frequency
5.90 6.20 10.50 -13.60 1998 - 2021 percent Quarterly
NSA, 2016=100

News Stream
Uruguay Economy Grows 4.4% in 2021
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%.
2022-03-24
Uruguay GDP Growth Eases From Record High
Uruguay’s gross domestic product expanded 5.9 percent year-on-year in the third quarter of 2021, easing from an upwardly revised record high of 11.4 percent in the previous period. The output growth slowed as the low base effects due to the pandemics started to fade. Consumer spending rose 2 percent (vs 8.1 percent in Q2), government expenditure increased 14.6 percent (vs 18.7 percent), and gross fixed capital formation jumped 17.1 percent (vs 29 percent). Meanwhile, the net external demand contributed positively to the GDP as exports soared 28.5 percent (vs 26.5 percent) and imports advanced 27.6 percent (vs 36.8 percent).
2021-12-30
Uruguay GDP Grows for 1st Time since 2019
Uruguay’s gross domestic product expanded 11.3 percent year-on-year in the second quarter of 2021, rebounding from an upwardly revised 3 percent contraction in Q1. It was the first GDP growth since the third quarter of 2019, as consumer spending rebounded (8.1 percent vs -4.6 percent in Q1) and both government expenditure (17.2 percent vs 6.4 percent) and gross fixed capital formation (31.7 percent vs 9.8 percent) advanced faster. Meanwhile, exports climbed 23.7 percent (vs -11.8 percent in Q1) while imports jumped at a faster 36.2 percent (vs -3.3 percent in Q1).
2021-09-30