The economic architecture of Uruguay is substantial, anchored by a Gross Domestic Product (GDP) of approximately $77.24B
2023
. This places it as the 80th largest economy out of 191 countries measured, underscoring its significance on the world stage. On a per capita basis, GDP stands at $22.8K
2023
, while its GDP adjusted for Purchasing Power Parity (PPP) is estimated at $116.64B, offering a clearer picture of the population's domestic purchasing power. The economy is navigating a period of modest growth, recorded at 0.4%
2023
, while managing moderate inflation, with a CPI of 4.8%.
2024
On the global stage, Uruguay's trade and financial dynamics reveal a complex interplay of international and domestic factors. The country exhibits a balanced trade profile, with exports making up 27.5% of GDP and imports 24.2%
2023
. The investment climate attracts significant Foreign Direct Investment (FDI), with inflows constituting -7.10% of the economy
2023
. This performance positions the country 179th globally out of 186 nations, confirming its status as a competitive destination for foreign capital. Furthermore, personal remittances from its diaspora are a vital component of the economy, amounting to a substantial $134.61M annually
2023
. Fiscal capacity is adequate, with tax collections representing 18.8% of GDP, supporting core state functions.
2023
The socio-economic landscape is characterized by a Gross National Income (GNI) per capita of $19,700
2023
, ranking the nation 53rd out of 190. This figure provides a comprehensive measure of the average income per person, reflecting the nation's overall economic well-being. The country confronts significant labor market challenges, evidenced by a high unemployment rate of 8.4%.
2024
A key feature of the workforce is its concentration in the services sector, which accounts for 72.3% of total employment
2023
. Despite its economic standing, poverty remains a salient issue, with 10.1% of the population living below the national poverty line
2023
. The nation exhibits a moderate degree of income inequality, with a Gini index of 40.9.
2023
In the environmental and energy sectors, the nation's policies and outcomes reflect its developmental priorities. Energy consumption per capita stands at 1,626.06 kg of oil equivalent
2022
, a metric that often correlates with industrial activity and living standards. The country is at the forefront of the global green transition, with renewable sources constituting a remarkable 57.8% of total final energy consumption
2021
. This commitment places it 150th among 190 countries, highlighting its relative progress in decarbonization. Total greenhouse gas emissions were last recorded at 41.63K tonnes of CO2 equivalent
2023
, a key factor in its national climate strategy and international obligations.

Key Economic Insights

Macroeconomic Health

Economic stagnation combined with high unemployment points to deep structural challenges requiring significant policy intervention.

Trade & Investment Profile

The orientation towards global trade and foreign investment is a defining feature of the economic landscape.

Social Equity & Distribution

Ensuring equitable distribution of economic gains is fundamental for long-term social and political stability.

Energy & Sustainability

A global leader in the green transition, the country leverages its strong commitment to renewable energy as a key economic and diplomatic advantage.

More About This Country

Neighbors & Regional Peers

Note: The information on this page has been compiled from authoritative sources. While every effort is made to ensure accuracy, please note that some figures may not be current or entirely precise.