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Economy |
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History |
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Geography |
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Economy |
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People |
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Current Event |
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Star Player |
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Whole Team |
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Schedule |
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Economy Overview: |
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Uruguay's economy is characterized by an export-oriented agricultural sector, a well-educated workface, relatively even income distribution, and high levels of social spending. After averaging growth of 5% annually in 1996-1998, in 1999-2000 the economy suffered from lower demand in Argentina and Brazil, which together account for about half of Uruguay's exports. Despite the severity of the trade shocks, Uruguay's financial indicators remained more stable than those of it's neighbors, a reflection of its solid reputation among investors and its investment-grade sovereign bond rating - one of only two in Latin America. Challenges for the government of President Jorge Battle include expanding Uruguay's trade ties beyond its Mercosur trade partners and reducing the costs of public services. GDP fell by 1.1% in 2000. |
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GDP: |
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Purchasing power parity - 31 billion (est. 2000) |
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GDP - Real Growth Rate: |
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1.1% (2000 est.) |
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GDP - Per Capita: |
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Purchasing power parity - 9,300 (2000 est.) |
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GDP - Composition By Sector: |
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Agriculture - 10 %
Industry - 28 %
Services - 62% (1999) |
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Household income or composition by
percentage share: |
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Lowest - 10% (N/A)
Highest - 10% (N/A) |
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Inflation Rate (Consumer prices): |
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4.8 % (2000 est.) |
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Labor Force: |
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1.5 Million (1999 est.) |
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Labor Force (by occupation): |
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Agriculture - N/A%
Industry - N/A%
Services - N/A% |
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Unemployment Rate: |
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14% (2000 est.) |
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Budget: |
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Revenues - $4 Billion
Expenditures - $4.6 Billion, including capital expenditures of $500 million (2000 est.) |
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Industries: |
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Food processing, electrical machinery, transportation equipment, petroleum products, textiles, chemicals, beverages |
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Industrial Production Growth Rate: |
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2.1% (2000 est.) |
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Electrical Production: |
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5.704 billion kWh (1999) |
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Electricity Production by Source: |
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Fossil Fuel - 3.86%
Hydro - 95.44%
Nuclear - 0%
Other - 0.7% (1999) |
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Electricity Consumption: |
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5.89 billion kWh (1999) |
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Electricity Exports: |
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215 million kWh (1999) |
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Electricity Imports: |
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800 million kWh (1999) |
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Agriculture Products: |
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Wheat, rice, barely, corn, sorghum; livestock; fish |
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Exports: |
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$2.6 billion (f.o.b., 2000 est.) |
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Export Commodities: |
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Meat, rice, leather products, vehicles, dairy products, wool, electricity |
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Exports - partners:
MERCOSUR partners 45%, EU 20%, US 7% (1999 est.)
Imports:
$3.4 billion (f.o.b., 2000 est.)
Imports - commodities:
road vehicles, electrical machinery, metal manufactures, heavy industrial machinery, crude petroleum
Imports - partners:
MERCOSUR partners 43%, EU 20%, US 11% (1999 est.)
Debt - external:
$8 billion (2000 est.)
Economic aid - recipient:
$NA
Currency:
Uruguayan peso (UYU)
Currency code:
UYU
Exchange rates:
Uruguayan pesos per US dollar - 12.5610 (January 2001), 12.0996 (2000), 11.3393 (1999), 10.4719 (1998), 9.4418 (1997), 7.9718 (1996)
Fiscal year:
calendar year |
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Jeremy Ginnever - Mr. Jenkins - 2001-2002 |
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