Includes historical data for the Uruguay’s Gross Domestic Product growth, debt-to-GDP ratio and more, as well as information on trade, banking and financial sector leadership.
Strong Democracy Creates Economic Benefits
Uruguay stands out for its stable democracy, modern entrepreneurial environment, well-educated workforce and abundant agricultural and forestry resources. Regularly ranked as Latin America’s least corrupt country by Transparency International, it benefits from its strategic location within Mercosur (Southern Common Market), preferential trade relations with the EU and the United States, as well as bilateral investment treaties with over 30 countries. Above-average regulatory efficiency, respect for the rule of law, low political risk, and macroeconomic stability attract foreign investors. Additionally, universal healthcare coverage and free education make Uruguay one of the most egalitarian societies in the world, with high per capita income, low inequality and poverty levels, and minimal extreme poverty.
However, Uruguay also faces challenges. These include vulnerability to commodity price fluctuations and regional economic conditions, chronically high inflation and rigid labor laws. Furthermore, due to its limited market size and competition from larger economies Uruguay faces constraints in scaling its industries.
Macroeconomy & Sovereign Data
| Type of Government | Presidential republic |
|---|---|
| Capital | Montevideo |
| Sovereign Ratings |
S&P: BBB Moody’s: Baa1 Fitch: BBB |
| Total Population | 3.6 million |
| Median Age | 36.0 |
| Adult Per Capita Income (PPP) | 34,344.72 |
| Total GDP (2023) | 82.6 billion |
Uruguay GDP & Economic Overview
Most Recent Content
Uruguay
Award Winners
Latin America Winners: A Need For Speed
Features
Uruguay Regional Champ
Capital Raising & Corporate Finance
ANNUAL SURVEY: WORLD’S BEST BANKS 2014Banking & Finance
Trade & Investment
| Total Exports | USD 15.5 billion (2023) |
|---|---|
| Leading Exports |
Sulfate Wood Pulp Beef Soybeans Concentrated Milk Rice |
| Total Imports | USD 15.7 billion (2022) |
| Leading Imports |
Crude Petroleum Packaged Medicines Cars Broadcasting Equipment Delivery Trucks |
| Source: | World Integrated Trade Solution |
Uruguay Leading Companies
| Banco República (BROU) | Financials |
|---|---|
| Banco Bandes Uruguay (BANDES) | Financials |
| Administración Nacional de Combustibles (ANCAP) | Oil & Gas Exploration & Production |
| Montevideo Shopping | Consumer Discretionary, General Merchandise Stores |
| Cerra Metallurgica Uruguaya (CMU) | Metals & Mining, Iron & Steel Producers |
| El País | Media, Publishing |
Major Trade Partners — Import
| Brazil | 20% |
|---|---|
| China | 19% |
| Argentina | 13% |
| United States | 9% |
| Nigeria | 4% |
Major Trade Partners — Export
| China | 27% |
|---|---|
| Brazil | 18% |
| Free zones, unspecified | 13% |
| United States | 6% |
| Argentina | 5% |
Global Finance Rankings & Awards
Data Sources:
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000