EN Nowadays, its main trading partners are China (26%) and the European Union (18%).Two main characteristics —a solid social contract and economic openness— paved the way to poverty reduction and the promotion of shared prosperity that Uruguay successfully followed in the last decade.According to official measures, moderate poverty went from 32.5% in 2006 to 8.1% in 2018, while extreme poverty has practically disappeared: it went down from 2.5% to 0.1% in the same period.
By 2017, the Gross National Income per capita at purchasing power parity (PPP) amounted to US$21,870.Since 2003, the Uruguayan economy has had positive economic growth rates, averaging 4,1% from 2003 to 2018. Label. The Gross Domestic Product (GDP) in Uruguay contracted 1.60 percent in the first quarter of 2020 over the previous quarter. The gross domestic product (GDP) is equal to the total expenditures for all final goods and services produced within the country in a stipulated period of time. The Gross Domestic Product (GDP) in Uruguay was worth 56.05 billion US dollars in 2019, according to official data from the World Bank and projections from Trading Economics.
Uruguay’s economic growth has remained positive even in 2017 and 2018, in spite of recessions experienced by Argentina and Brazil, thus departing from previous patterns when growth was synchronized with that of its main neighbors. For its part, in 2016 MIGA issued a US$439 million guarantee for the Uruguayan subsidiary of Banco Santander.Furthermore, its project portfolio is complemented with non-reimbursable technical assistance donations and studies such as water resource management in Uruguay, demographic changes, an analysis on grain-export logistics chains and green growth, among others.The World Bank Group has worked alongside different Uruguayan governments in areas such as Since 2010, more than US$1 billion have been approved in loans aimed at financing investments in infrastructure, agriculture, environment and institutional strengthening, as well as to increase the Government’s capacity to protect the most vulnerable sectors of the population from external economic shocks through contingent financing. The GDP value of Uruguay represents 0.05 percent of the world economy. In addition, Uruguay received delegations from Kyrgyzstan (who were interested in improving the information systems in their national electricity company), Zimbabwe/Botswana (for budget issues) Nicaragua (in order to improve statistical capability of the country) and Costa Rica (in order to share the experience on water management). According to the Human Opportunity Index constructed by the World Bank, Uruguay has managed to attain a high level of equal opportunities in terms of access to basic services such as education, running water, electricity and sanitation.In July 2013, the World Bank classified Uruguay as a high-income country.
The gross domestic product (GDP) measures of national income and output for a given country's economy. We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face.We face big challenges to help the world’s poorest people and ensure that everyone sees benefits from economic growth. In terms of equity, income levels among the poorest 40% of the Uruguayan population increased much faster than the average growth rate of income levels of the entire population. Issues Transportation Ranks P h o t o s. PRIOR YEAR DATA: 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990 1989 1987 … Moreover, the World Bank has provided analytical and technical support.Finally, in relation to the development of financial services and innovative knowledge that may provide solutions among countries, the World Bank Group facilitated Uruguay’s participation in 20 South-South initiatives on different topics, such as: road maintenance and performance based disbursements with Morocco, ICT in education with Armenia, experience with the livestock traceability system with Kazakhstan, agricultural information systems with Mexico and health experience with Paraguay and Chile.
However, demand for many economy brands increased considerably at the expense of mid-priced options.
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