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Uruguay

República Oriental del Uruguay

Last updated: 2026-03-28 (today)

Budget

note

note: central government revenues (excluding grants) and expenditures converted to US dollars at average official exchange rate for year indicated

revenues

$27.781 billion (2023 est.)

expenditures

$17.808 billion (2023 est.)

Exports

note

note: balance of payments - exports of goods and services in current dollars

Exports 2022

$23.56 billion (2022 est.)

Exports 2023

$21.946 billion (2023 est.)

Exports 2024

$23.329 billion (2024 est.)

Imports

note

note: balance of payments - imports of goods and services in current dollars

Imports 2022

$19.639 billion (2022 est.)

Imports 2023

$19.259 billion (2023 est.)

Imports 2024

$19.117 billion (2024 est.)

Industries

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

Labor force

1.768 million (2024 est.)

note: number of people ages 15 or older who are employed or seeking work

Public debt

note

note: central government debt as a % of GDP

Public debt 2023

62.4% of GDP (2023 est.)

Remittances

note

note: personal transfers and compensation between resident and non-resident individuals/households/entities

Remittances 2022

0.2% of GDP (2022 est.)

Remittances 2023

0.2% of GDP (2023 est.)

Remittances 2024

0.2% of GDP (2024 est.)

Exchange rates

Currency

Uruguayan pesos (UYU) per US dollar -

Exchange rates 2020

42.013 (2020 est.)

Exchange rates 2021

43.555 (2021 est.)

Exchange rates 2022

41.171 (2022 est.)

Exchange rates 2023

38.824 (2023 est.)

Exchange rates 2024

40.213 (2024 est.)

Economic overview

high-income, export-oriented South American economy; South America’s largest middle class; low socioeconomic inequality; growing homicide rates; growing Chinese and EU relations; 2019 Argentine recession hurt; key milk, beef, rice, and wool exporter

Unemployment rate

note

note: % of labor force seeking employment

Unemployment rate 2022

7.9% (2022 est.)

Unemployment rate 2023

8.4% (2023 est.)

Unemployment rate 2024

8.5% (2024 est.)

Exports - partners

China 21%, Brazil 17%, USA 8%, Argentina 5%, Netherlands 5% (2023)

note: top five export partners based on percentage share of exports

Imports - partners

Brazil 22%, China 18%, Argentina 11%, USA 9%, Nigeria 4% (2023)

note: top five import partners based on percentage share of imports

Real GDP per capita

note

note: data in 2021 dollars

Real GDP per capita 2022

$30,800 (2022 est.)

Real GDP per capita 2023

$31,100 (2023 est.)

Real GDP per capita 2024

$32,000 (2024 est.)

Real GDP growth rate

note

note: annual GDP % growth based on constant local currency

Real GDP growth rate 2022

4.5% (2022 est.)

Real GDP growth rate 2023

0.7% (2023 est.)

Real GDP growth rate 2024

3.1% (2024 est.)

Agricultural products

milk, rice, wheat, barley, soybeans, beef, rapeseed, sugarcane, maize, beef offal (2023)

note: top ten agricultural products based on tonnage

Exports - commodities

wood pulp, beef, milk, rice, wood (2023)

note: top five export commodities based on value in dollars

Imports - commodities

crude petroleum, refined petroleum, cars, trucks, fertilizers (2023)

note: top five import commodities based on value in dollars

Current account balance

note

note: balance of payments - net trade and primary/secondary income in current dollars

Current account balance 2022

-$2.675 billion (2022 est.)

Current account balance 2023

-$2.64 billion (2023 est.)

Current account balance 2024

-$821.38 million (2024 est.)

Taxes and other revenues

18.7% (of GDP) (2023 est.)

note: central government tax revenue as a % of GDP

GDP (official exchange rate)

$80.962 billion (2024 est.)

note: data in current dollars at official exchange rate

GDP - composition, by end use

note

note: figures may not total 100% due to rounding or gaps in data collection

household consumption

66.8% (2015 est.)

government consumption

13.8% (2015 est.)

investment in inventories

-0.1% (2015 est.)

investment in fixed capital

19.8% (2015 est.)

exports of goods and services

22.5% (2015 est.)

imports of goods and services

-22.9% (2015 est.)

Population below poverty line

10.1% (2023 est.)

note: % of population with income below national poverty line

Average household expenditures

on food

18.7% of household expenditures (2023 est.)

on alcohol and tobacco

1.2% of household expenditures (2023 est.)

Inflation rate (consumer prices)

note

note: annual % change based on consumer prices

Inflation rate (consumer prices) 2022

9.1% (2022 est.)

Inflation rate (consumer prices) 2023

5.9% (2023 est.)

Inflation rate (consumer prices) 2024

4.8% (2024 est.)

Industrial production growth rate

4.4% (2024 est.)

note: annual % change in industrial value added based on constant local currency

Real GDP (purchasing power parity)

note

note: data in 2021 dollars

Real GDP (purchasing power parity) 2022

$104.456 billion (2022 est.)

Real GDP (purchasing power parity) 2023

$105.231 billion (2023 est.)

Real GDP (purchasing power parity) 2024

$108.502 billion (2024 est.)

Youth unemployment rate (ages 15-24)

male

23.5% (2024 est.)

note

note: % of labor force ages 15-24 seeking employment

total

26.4% (2024 est.)

female

29.8% (2024 est.)

Reserves of foreign exchange and gold

note

note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars

Reserves of foreign exchange and gold 2022

$15.127 billion (2022 est.)

Reserves of foreign exchange and gold 2023

$16.257 billion (2023 est.)

Reserves of foreign exchange and gold 2024

$17.378 billion (2024 est.)

GDP - composition, by sector of origin

note

note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data

industry

16.8% (2024 est.)

services

65.3% (2024 est.)

agriculture

6.4% (2024 est.)

Household income or consumption by percentage share

note

note: % share of income accruing to lowest and highest 10% of population

lowest 10%

2.1% (2023 est.)

highest 10%

30.8% (2023 est.)

Gini Index coefficient - distribution of family income

note

note: index (0-100) of income distribution; higher values represent greater inequality

Gini Index coefficient - distribution of family income 2023

40.9 (2023 est.)