Analysis by Region - Emerging Markets - Uruguay
We raised our GDP growth forecast for Uruguay by 0.2ppts to 3.1% for 2024, due to data revisions and stronger-than-expected 1.5% q/q growth in Q2. The expansion was largely fueled by the external sector, reflecting historically high exports from a better-than-expected harvest season. We trimmed our 2025 GDP growth outlook by 0.2ppts to 2.6%, as a 5.7% import rebound, fueled by a higher demand for imported goods is anticipated to drag down net trade.
- Uruguay: Positive performance in exports improves the outlook
- Forecast overview
- Recent developments
- Short-term growth outlook
- Key drivers of our short-term forecast
- Economic risk
- Economic risk evaluation
- Background
- Economic development
- Structure of the economy
- Balance of payments and structure of trade
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