General Information

In addition to being regarded as one of the major meat producers in the world, the country also exports agricultural products (19%), wood and derivatives (10%) and dairy products (7%).
(Source: Banco Central BCU)

Gross Domestic Product (GDP) % of regional GDP GDP per head

USD 56,764

millions

1.2%

 

USD 16,218

 

Economic Statistics (years 2016 - forecast 2021)

National Accounts 2016 2017 2018 2019 f.2020 f.2021
             
GDP growth (%) 1.7% 2.6% 1.6% 0.3% -3.0% 5.0%
Nominal GDP (USD millions) 52,688 59,546 59,597 56,764 54,935 57,901
GDP per Head (USD) 15,496 17,514 17,028 16,218 15,924 16,829
Inflation (%) 8.1% 6.6% 8.0% 8.8% 7.2% 7.3%
Fiscal Balance (% GDP) -3.8% -3.5% -2.1% -3.0% -4.7% -3.8%
General Govt. gross debt (% GDP) 61.4% 65.4% 67.9% 73.6% 74.9% 74.8%
   

Trade Statistics

Foreign Trade - Composition        
           
Exports     Imports    
           
By countries     By countries  
Brazil 17.1%   China   18.8%
China 12.7%   Brazil   18.0%
US 6.5%   Argentina   13.3%
Argentina 5.2%   US   6.9%
           
By products     By products  
Agricultural products 74.9%   Manufactures 67.2%
Manufactures 23.2%   Fuels and mining prod. 19.3%
Fuels and mining prod. 0.8%   Agricultural products 13.5%
   
Balance of Payments (USD millions) 2016 2017 2018 2019 f.2020 f.2021
             
Exports of Goods 10,374 11,059 11,535 11,808 10,863 11,431
Exports growth (%) -6.9% 6.6% 4.3% 2.4% -8.0% 5.2%
Imports of Goods 8,463 8,668 9,107 8,444 7,676 8,161
Imports growth (%) -14.0% 2.4% 5.1% -7.3% -9.1% 6.3%
Foreign Trade (% GDP) 36% 33% 35% 36% 38% 39%
             
Current Account Balance -69 420 77 1,239 -21 -259
% GDP -0.1% 0.7% 0.1% 2.2% 0.0% -0.4%
Foreign Direct Investment 171 2,653 1,173 1,476 1,449 2,356
% GDP 0.3% 4.5% 2.0% 2.6% 2.6% 4.0%
   

 

Disclaimer

This presentation has been prepared by Banco Latinoamericano de Comercio Exterior, S.A. (“BLADEX”) for information purposes only.

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