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Uruguay's economy is characterized by an export-oriented agricultural sector, a well-educated work force, 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. In 2001-02, Argentine citizens made massive withdrawals of dollars deposited in Uruguayan banks after bank deposits in Argentina were frozen, which led to a plunge in the Uruguayan peso, a banking crisis, and a sharp economic contraction. Real GDP fell in f...  More..

Economy of Uruguay
SOURCE: CIA - The World Factbook
Currency Uruguayan Peso
GDP (PPP) $44.52 billion (2009 est.)
GDP (per capita) $12,700 (2009 est.)
Exports $6.32 billion (2009 est.)
Imports $6.576 billion (2009 est.)
Main Industries Food Processing, Electrical Machinery, Transportation Equipment, Petroleum Products, Textiles, Chemicals, Beverages
Exports - Commodities Meat, Rice, Leather Products, Wool, Fish, Dairy Products
Imports - Commodities Crude Petroleum and Petroleum Products, Machinery, Chemicals, Road Vehicles, Paper, Plastics
Exports Partners Brazil 18.7%, China 8.5%, Argentina 7.3%, Germany 6.5%, Mexico 4.9%, Netherlands 4.5%, Russia 4.4% (2008)
Imports Partners Argentina 19.6%, Brazil 17.9%, China 11%, US 9.7%, Paraguay 6.5%, Nigeria 4.5% (2008)

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