Support Our Sponsor
. . Flags of the World Maps of All Countries

  • |SEARCH|
  • |Main INDEX|
  • 2006 INDEX
  • Country Ranks
  • DEFINITIONS

    Uruguay Index 2006

    Uruguay Main Index


    . Feedback
  • geographic.org Home PageCountry Index

    Uruguay Economy - 2006
    https://theodora.com/wfbcurrent/uruguay/uruguay_economy.html
    SOURCE: 2006 CIA WORLD FACTBOOK

      Economy - overview:
      Uruguay's well-to-do economy is characterized by an export-oriented agricultural sector, a well-educated work force, and high levels of social spending. After averaging growth of 5% annually during 1996-98, in 1999-2002 the economy suffered a major downturn, stemming largely from the spillover effects of the economic problems of its large neighbors, Argentina and Brazil. For instance, in 2001-02 Argentina made massive withdrawals of dollars deposited in Uruguayan banks, which led to a plunge in the Uruguayan peso and a massive rise in unemployment. Total GDP in these four years dropped by nearly 20%, with 2002 the worst year due to the banking crisis. The unemployment rate rose to nearly 20% in 2002, inflation surged, and the burden of external debt doubled. Cooperation with the IMF helped stem the damage. A debt swap with private-sector creditors in 2003 extended the maturity dates on nearly half of Uruguay's then $11.3 billion of public debt and helped restore public confidence. The economy grew about 10% in 2004 as a result of high commodity prices for Uruguayan exports, a competitive peso, growth in the region, and low international interest rates, but slowed to 6.1% in 2005.

      GDP (purchasing power parity):
      $54.58 billion (2005 est.)

      GDP (official exchange rate):
      $17.03 billion (2005 est.)

      GDP - real growth rate:
      6.1% (2005 est.)

      GDP - per capita (PPP):
      $16,000 (2005 est.)

      GDP - composition by sector:
      agriculture: 7.1%
      industry: 27.7%
      services: 65.2% (2005 est.)

      Labor force:
      1.52 million (2005 est.)

      Labor force - by occupation:
      agriculture: 14%
      industry: 16%
      services: 70%

      Unemployment rate:
      12.5% (2005 est.)

      Population below poverty line:
      22% of households (2004)

      Household income or consumption by percentage share:
      lowest 10%: 3.7%
      highest 10%: 25.8% (1997)

      Distribution of family income - Gini index:
      44.6 (2000)

      Inflation rate (consumer prices):
      4.9% (2005 est.)

      Investment (gross fixed):
      12.2% of GDP (2005 est.)

      Budget:
      revenues: $4.468 billion
      expenditures: $4.845 billion; including capital expenditures of $193 million (2005 est.)

      Public debt:
      793.4% of GDP (June 2005 est.)

      Agriculture - products:
      rice, wheat, corn, barley; livestock; fish

      Industries:
      food processing, electrical machinery, transportation equipment, petroleum products, textiles, chemicals, beverages

      Industrial production growth rate:
      5.1% (2005 est.)

      Electricity - production:
      8.611 billion kWh (2003)

      Electricity - consumption:
      7.762 billion kWh (2003)

      Electricity - exports:
      900 million kWh (2003)

      Electricity - imports:
      654 million kWh (2003)

      Oil - production:
      435 bbl/day (2003 est.)

      Oil - consumption:
      38,000 bbl/day (2003 est.)

      Oil - exports:
      NA bbl/day

      Oil - imports:
      NA bbl/day

      Natural gas - production:
      0 cu m (2003 est.)

      Natural gas - consumption:
      60 million cu m (2003 est.)

      Natural gas - exports:
      0 cu m (2003 est.)

      Natural gas - imports:
      65 million cu m (2003 est.)

      Current account balance:
      -$19 million (2005 est.)

      Exports:
      $3.55 billion f.o.b. (2005 est.)

      Exports - commodities:
      meat, rice, leather products, wool, fish, dairy products

      Exports - partners:
      US 17.4%, Brazil 16%, Germany 6.3%, Argentina 6.2%, Mexico 4.2% (2004)

      Imports:
      $3.54 billion f.o.b. (2005 est.)

      Imports - commodities:
      machinery, chemicals, road vehicles, crude petroleum

      Imports - partners:
      Argentina 19.4%, Brazil 19%, Paraguay 12.9%, US 9.2%, China 6% (2004)

      Reserves of foreign exchange and gold:
      $2.654 billion (2005 est.)

      Debt - external:
      $11.22 billion (June 2005 est.)

      Economic aid - recipient:
      $NA

      Currency (code):
      Uruguayan peso (UYU)

      Exchange rates:
      Uruguayan pesos per US dollar - 24.479 (2005), 28.704 (2004), 28.209 (2003), 21.257 (2002), 13.319 (2001)

      Fiscal year:
      calendar year


      NOTE: The information regarding Uruguay on this page is re-published from the 2006 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Uruguay Economy 2006 information contained here. All suggestions for corrections of any errors about Uruguay Economy 2006 should be addressed to the CIA.

    Support Our Sponsor

    Support Our Sponsor

    Please ADD this page to your FAVORITES - - - - -


    https://theodora.com/wfbcurrent/uruguay/uruguay_economy.html

    Revised 06-Jun-06
    Copyright © 2006 Photius Coutsoukis (all rights reserved)


    CTR060106