Uruguay
A South American Growth Dynamo


 
Resilient real GDP growth in Uruguay is powered by good governance, low corruption and inequality and favourable demographics.

Uruguay's GDP Growth
Index: 1995=100
Uruguay - A South American Growth Dynamo


Uruguay - A South American Growth Dynamo

* GDP in Purchasing Power Parity terms with added estimates for the size of the informal economy and adjustments for out-of-date GDP base year data.



Uruguay’s economy has extensively outperformed Brazil and Argentina over the last decade. Real GDP from 1990 to 2020, increased by a cumulative annual average growth rate of 2.4% while Brazil grew by only 0.3% and Argentina contracted by minus 0.6% per annum.

The quality of governance in Uruguay is relatively high for South America with an ESG (Environmental Sustainability Governance Index) of 79.3 above the world average of 51.5. The country’s economy held up during the Covid pandemic continuing to grow while Argentina and Brazil experienced sharp falls in real GDP in 2020 of 9.8% and 3.3% respectively while future growth will be sustained by a high ratio of young people and a broad middle-class.

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