Uruguay

Quick Facts

🇺🇾
Capital:
Montevideo
Official Language(s):
Spanish
Currency:
Uruguayan peso ($)
Population:
3,473,727

Overview

Uruguay, officially the Oriental Republic of Uruguay, is a country in South America. It shares borders with Argentina to its west and southwest and Brazil to its north and northeast, while bordering the Río de la Plata to the south and the Atlantic Ocean to the southeast. It is part of the Southern Cone region of South America. Uruguay covers an area of approximately 176,215 square kilometres (68,037 sq mi). It has a population of around 3.4 million people, of whom nearly 2 million live in the metropolitan area of its capital and largest city, Montevideo.

Institutional Framework

The strength of a country's institutions directly impacts its economic development and stability. Strong institutions reduce uncertainty, protect property rights, and enable efficient markets through:
  • Rule of law and contract enforcement
  • Control of corruption
  • Government effectiveness and regulatory quality

* Indicators normalized to 0-100 scale

Economic Structure

The composition of an economy reveals its strengths, vulnerabilities, and potential for growth. Understanding the balance between sectors (agriculture, industry, services) and their sophistication helps assess economic resilience and development opportunities.

Economic Health & Trade

Economic Scale & Power

An economy with $60,760,798,595.544B(2021) GDP, showing strong growth at 5.6%(2021). Developing economy with moderate income levels.

GDP Growth
5.6%(2021)
GDP PPP
$100,003,719,372.588

Economic Structure

Economic structure shows 63.2%(2021) in services, 17.5%(2021) in industry, and 7.9%(2021) in agriculture. Balanced economic structure.

Economic Health & Trade

Economic health indicators show 9.3%(2021) unemployment and 7.7%(2021) inflation. Trade profile with 32.0%(2021) exports and 24.8%(2021) imports as % of GDP.

Unemployment
9.3%(2021)
Inflation
7.7%(2021)
Exports/GDP
32.0%(2021)
Imports/GDP
24.8%(2021)

Innovation & Competitiveness

Innovation capacity determines a country's ability to compete in the global knowledge economy. Key indicators like R&D investment, patent applications, and high-tech exports reveal the potential for sustainable economic growth and value creation.

High-Tech Exports

8.6

% of manufactured exports

ICT Exports

0.1

% of total goods exports

Digital Adoption

87.6

% of population using internet

Mobile Connectivity

136.9

Subscriptions per 100 people

Manufacturing Value

10.2

% of GDP

International Position

A country's integration into global markets affects its economic opportunities and risks. Trade relationships, financial flows, and geographic advantages or constraints shape its development trajectory and resilience to external shocks.

Financial & Trade Geography

Trade Profile

Trade represents 56.82%(2021) of GDP, with a trade balance of 7.14%(2021).

FDI Inflows
8.50%(2021)
FDI Outflows
4.31%(2021)

Financial Security

External Debt

N/A

Foreign Reserves

$16.96B(2021)(9.0 months of imports)

Supply Chain & Technology

Technology Trade

ICT Imports
5.73%(2021)
High-Tech Exports
8.60%(2021)

Economic Structure

Manufacturing
10.23%(2021)
Services
63.21%(2021)

Trade Agreements & Dependencies

Trade Agreements

No major trade agreements

Critical Dependencies

    Growth Trajectory

    Understanding growth patterns helps predict future economic performance and development challenges. Key factors include productivity trends, investment levels, and structural transformation progress, which together determine long-term prosperity potential.

    Growth Potential Indicators

    Human Capital

    Education and workforce development

    56.4/100

    Trade Position

    International trade and competitiveness

    24.7/100

    Economic Structure

    Sectoral balance and sophistication

    33.6/100

    Demographics & Human Capital

    Demographics are fundamental to understanding a country's economic potential and challenges. The population structure influences everything from labor force availability to social security systems and public spending priorities.

    Demographics

    Population Overview

    Total population of 3,396,695(2021) with -0.1%(2021) annual growth. Median age is N/A with fertility rate at 1.493 births/woman(2021).

    Life Expectancy
    75.436 years(2021)
    Birth Rate
    10.473 per 1,000(2021)

    Age Structure

    Working-age population (65.1%(2021)) with youth at 19.4%(2021) and elderly at 15.5%(2021). Total dependency ratio: 53.6%(2021).

    Young Dependency
    29.9%(2021)
    Old Dependency
    23.8%(2021)

    Gender & Migration

    Population is 51.5%(2021) female and 48.5%(2021) male, with sex ratio of 1.056 males/female(2021) at birth. Net migration: -1,482(2021).

    Male Mortality
    172.016/1,000(2021)
    Female Mortality
    95.461/1,000(2021)

    Development Indicators

    Urban population growing at 0.0%(2021) annually, with 4.4%(2021) in rural areas. Literacy rate: N/A.

    Urbanization
    95.6%(2021)
    Infant Mortality
    5.8 per 1,000(2021)

    Population Structure

    The population pyramid visualizes the age and gender distribution, revealing crucial insights about economic sustainability. A balanced pyramid with a strong working-age population (typically ages 15-64) indicates greater economic potential, as this group supports both the younger and older generations through:
    • Labor force participation and productivity
    • Tax contributions to support social services
    • Innovation and economic growth

    An aging population (top-heavy pyramid) or youth bulge (bottom-heavy) can create demographic pressures on social systems and economic stability.

    Source: World Bank Development Indicators

    Security Context

    Security considerations fundamentally affect economic development and investment attractiveness. Both geographic factors and military capabilities influence a country's stability and its ability to protect economic interests and maintain sustainable growth.

    Geographic & Resource Security

    Food & Agriculture

    Arable land comprises 11.6%(2021) of territory, with 80.4%(2021) total agricultural land. Cereal yield: 5,499.4 kg/hectare(2021).

    Food Production Index
    100.47(2021)
    Cereal Production
    4,048,529.02 MT(2021)

    Energy Security

    Net energy imports at N/A of consumption. Renewable energy makes up 100.0%(2021) of total. Electricity access: N/A.

    Resource Rents
    N/A

    Water Resources

    Fresh water resources of 1,300 m³/capita(2021) per person. Annual precipitation: 11.724 mm(2021).

    Forest Area
    2.1%(2021)

    Environmental Vulnerability

    27144.0%(2021) of population affected by climate disasters. Forest coverage at 2.1%(2021) providing natural buffer.

    Annual Rainfall
    11.724 mm(2021)

    Military & Security

    Military Capabilities

    Military expenditure at N/A of GDP. Armed forces personnel: 3,000,000(2021) ( N/A of labor force).

    Arms Exports
    877 USD(2021)
    Arms Imports
    N/A

    Strategic Status

    Military Alliances

    No major military alliances

    Nuclear Status

    Non-Nuclear State

    Security Environment

    Refugee population: 99,480(2021)Internally displaced: 119,879(2021)

    Strategic Geography

    Strategic Features

    • Borders 2 countries