Early in the 20th century Uruguay was a relatively wealthy supply region for beef and wool exports to the advanced countries. In the postwar period it developed under the import substitution model which had limited success due to the small size of the internal market.

There was a period of political instability and military rule in the 1970's but since 1985 the Constitution has been restored. The economy suffered a lost decade in the 1980's due to the Latin American debt crisis but growth resumed in the 1990's. At the turn of the Millennium Uruguay suffered from the fallout from the crises in it’s two large neighbours Brazil and Argentina.

Growth since then has been positive albeit it has trended lower in the last few years. Uruguay exports mostly agricultural and primary produce and is integrated into Mercosur along with Brazil, Argentina and Paraguay. It’s tourist sector is heavily dependent on tourists from Argentina and it will be affected by the recent devaluation of the Peso there. It needs to diversify it’s exports by product type and destination and it could do more to develop markets in Asia, China in particular. 

Contents

Introduction

The Modern Period

The Current Era

The Modern State

Economics from the Ground Up

Political Systems

Trade Theory

The EU as a Model of Integration

Industrialisation

Synopsis

Data                                   

            World GDP                                           2018

            World GDP PPP                                   2018

            GDP per capita ppp                           2018

            Exports    &   Imports                        2018

            Container Traffic                  2010 & 2018

            Oil Production                                    2018

            Migrant Remittances                       2018

            Tourism Statistics                             2017

            Tourism Americas                             2017              

Latin America         

Background

The US and Latin America

Economy

The EU and Latin America

Mercosur

World Exports                                     2000-2018

Uruguay                         

            Introduction

            20^th Century

            Economy

            State Finances

            Commentary on Economy

            Charts & Chart Commentary

Sources

63 pages