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.

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Uruguay GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-10.60 -1.40 10.50 -10.60 1998 - 2020 percent Quarterly
NSA, 2005=100


Calendar GMT Actual Previous Consensus TEForecast
2019-12-17 11:00 PM Q3 0.9% 0.0% 0.7%
2020-04-01 11:30 PM Q4 0.2% 1.1% 0.5%
2020-07-02 03:00 PM Q1 -1.4% 0.2% -0.3%
2020-09-30 10:00 PM Q2 -10.6% -1.4% -10%
2020-12-30 10:00 PM Q3 -10.6% -6%


News Stream
Uruguay Economy Contracts at Record Pace
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).
2020-09-30
Uruguay GDP Contracts the Most since 2003
The economy of Uruguay shrank 1.4 percent year-on-year in the first quarter of 2020, after expanding 0.2 percent in the previous period. It was the steepest contraction since the second quarter of 2003, amid the coronavirus crisis. Output shrank in trade, restaurants & hotels (-2.9 percent vs 0.6 percent in Q4 2019); utilities (-18.3 percent vs 6.1 percent); and other activities (-2.3 percent vs 0.6 percent). Additionally, output contracted further in construction (-5.3 percent vs -1.7 percent); and agriculture, forestry & fishing (-7.7 percent vs -7.6 percent). Meanwhile, growth accelerated in transportation, storage and communications services (4.4 percent vs 2.5 percent) while manufacturing output fell less (-0.1 percent vs -2.2 percent). On a quarterly basis, the GDP contracted 1.6 percent, following an upwardly revised 0.7 percent decline in the prior period.
2020-07-02
Uruguay GDP Growth Slows in Q4
The economy of Uruguay advanced 0.2 percent year-on-year in the fourth quarter of 2019, easing from an upwardly revised 1.1 percent expansion in the previous period. Output growth slowed in transportation, storage and communications services (2.5 percent vs 3 percent in Q3); and other activities (0.6 percent vs 1.4 percent). In addition, manufacturing output shrank 2.2 percent, after growing 2.9 percent in the previous quarter; and the construction sector contracted 1.7 percent, faster than a 1.2 percent decline in the prior quarter. Meanwhile, primary activities shrank 7.6 percent, less than an 8.3 percent contraction. On a quarterly basis, the GDP contracted 0.6 percent. Considering 2019 as a whole, the economy grew 0.2 percent, slowing from a 1.6 percent expansion in 2018.
2020-04-01
Uruguay Economy Expands the Most in a Year
The economy of Uruguay grew 0.9 percent year-on-year in the third quarter of 2019, after stalling in the previous period. It was the strongest growth rate in a year, boosted by manufacturing (2.7 percent from -1.8 percent in Q2); and other activities (1 percent vs 0.1 percent). Also, construction output shrank 3.6 percent, less than a 4.7 percent contraction in the prior quarter. On the other hand, a slowdown was recorded in transport, storage and communications (3.5 percent from 5 percent); and utilities (1.2 percent from 3.8 percent). Also, agriculture, livestock, hunting and forestry activities shrank 8 percent, after expanding 1.2 percent in the second quarter of the year; while trade, repair, restaurant and hotels stalled, following a 2.6 percent contraction. On a seasonally adjusted quarterly basis, the economy grew 0.6 percent.
2019-12-17

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.