Uruguay's economy contracted 10.6 percent in the second quarter of 2020, following a 1.4 percent drop in the previous three-month period. It was the largest contraction on record, as output shrank further in trade, restaurants & hotels (-31.4 percent vs -3.1 percent in Q1 2020); manufacturing (-10.8 percent vs -0.1 percent); construction (-6.5 percent vs -4.6 percent) and other activities (-13.5 percent vs -2.1 percent). On the other hand, growth accelerated in transportation, storage and communications services (7.2 percent vs 3.9 percent). source: Banco Central del Uruguay
GDP Annual Growth Rate in Uruguay averaged 2.35 percent from 1998 until 2020, reaching an all time high of 10.50 percent in the second quarter of 2010 and a record low of -10.60 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 October of 2020.
GDP Annual Growth Rate in Uruguay is expected to be -5.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Uruguay to stand at 8.00 in 12 months time. In the long-term, the Uruguay GDP Annual Growth Rate is projected to trend around 2.70 percent in 2021 and 2.20 percent in 2022, according to our econometric models.