Uruguay’s gross domestic product fell 2.8 percent year-on-year in the first quarter of 2021, following a 2.9 percent decline in the previous period. This was the sixth consecutive quarter of contraction in GDP, as the country struggled with a growing pandemic after being considered a "success case" in 2020. Main downward pressure was reported in professional activities & leasing (-7.0 percent vs -1.4 percent); health, education, real estate and other activities (-6.9 percent vs -6.0 percent); commerce, accommodation and supply of food and beverages (-6.0 percent vs -8.4 percent); and transportation & storage, information & communication (-4.6 percent vs --0.8 percent). On the other hand, output increase in agriculture, fisheries and mining (10.4 percent vs 7.8 percent) and in construction (3.3 percent vs 7.5 percent). On a seasonally adjusted quarterly basis, the economy fell 0.5 percent. source: Banco Central del Uruguay
GDP Annual Growth Rate in Uruguay averaged 2.04 percent from 1998 until 2021, reaching an all time high of 10.50 percent in the second quarter of 2010 and a record low of -12.50 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 August of 2021.
GDP Annual Growth Rate in Uruguay is expected to be 4.00 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 3.00 in 12 months time. In the long-term, the Uruguay GDP Annual Growth Rate is projected to trend around 3.10 percent in 2022 and 3.00 percent in 2023, according to our econometric models.