Uruguay Oil production Uruguay Electricity production

Uruguay Economy

Economy - overview:uruguay's well-to-do economy is characterized by an export-oriented agricultural sector. a well-educated workforce. and high levels of social spending. after averaging growth of 5% annually during 1996-98. in 1999-2002 the economy suffered a major downturn. stemming largely from the spillover effects of the economic problems of its large neighbors. argentina and brazil. for instance. in 2001-02 massive withdrawals by argentina of dollars deposited in uruguayan banks led to a plunge in the uruguyan peso and a massive rise in unemployment. total gdp in these four years dropped by nearly 20%. with 2002 the worst year due to the serious banking crisis. unemployment rose to nearly 20% in 2002. inflation surged. and the burden of external debt doubled. cooperation with the imf limited the damage. the debt swap with private creditors carried out in 2003. which extended the maturity dates on nearly half of uruguay's $14 billion in public debt. substantially alleviated the country's amortization burden in the coming years and restored public confidence. the economy grew about 10% in 2004 as a result of high commodity prices for uruguayan exports. the weakness of the dollar against the euro. growth in the region. low international interest rates. and greater export competitiveness. but slowed to a 6.2% pace in 2005.

GDP (purchasing power parity) : $32.92 billion (2005 est.)

Inflation rate: 4.9% (2005 est.)

Labor force : 1.52 million (2005 est.)

Industries: food processing. electrical machinery. transportation equipment. petroleum products. textiles. chemicals. beverages

Uruguay

			Over view
			Geography
			People
			Government
			Economy
			Communications
			Transportation
			Militry

Uruguay More Facts

Electricity - production: 8.611 billion kwh (2003)

Oil - production: 435 bbl/day (2003 est.)

Uruguay More Facts

Exports: $3.55 billion f.o.b. (2005 est.)

Imports : $3.54 billion f.o.b. (2005 est.)
Currency (code) : uruguayan peso (uyu)