Strong governance and institutions, in pursuit of fiscal consolidation

BB2

MEDIUM RISK for enterprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

Updated in January 2023.

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GDP USD59.32bn (World ranking 85, World Bank 2021)
Population 3.49mn (World ranking 131, World Bank 2021)
Form of state Constitutional Republic
Head of government Luis Lacalle Pou (President)
Next elections 2024, general
  • Robust democratic political system with a good degree of social consensus
  • Relatively high levels of foreign reserves
  • Stable FDI inflows
  • Persistent high inflation and public debt-GDP ratio
  • Banking system highly dollarized with large non-resident deposits
  • Vulnerable to external shocks particularly through trade and financial links with neighbors Brazil and Argentina and main merchandise export partner China

Trade structure by destination/origin

(% of total, 2021)

Exports Rank Imports
China 31.1%
1
19.9% Brazil
Brazil 20.9%
2
19.3% China
United States 6.5%
3
10.4% United States
Argentina 5.6%
4
7.7% Argentina
Netherlands 2.8%
5
4.9% Armenia

Trade structure by product

(% of total, 2021)

Exports Rank Imports
Meat and meat preparations 33.2%
1
11.4% Petroleum, petroleum products and related materials
Dairy products and birds' eggs 9.4%
2
8.1% Road vehicles
Oil seeds and oleaginous fruits 8.9%
3
5.0% Articles of apparel & clothing accessories
Cereals and cereal preparations 8.5%
4
4.3% Telecommunication and sound recording apparatus
Cork and wood 4.7%
5
3.8% Electrical machinery, apparatus and appliances, n.e.s.
Popular Risk Reports: Americas

Popular Risk Reports: Europe

Popular Risk Reports: Asia Pacific

Popular Risk Reports: Middle East

Popular Risk Reports: Africa