BackUruguayan Economy Growing at a Faster Pace

28.07.17
Uruguayan Economy Growing at a Faster Pace

Uruguay’s economic growth picked up speed in the first quarter of 2017, with an expansion in most sectors of activity, fueled mainly by consumption and exports.

According to data from the Central Bank of Uruguay (BCU), economic activity grew by 4.3% during this period. One of the top sectors is logistics, which proved the most dynamic, growing by 9.4% as compared with the first quarter of 2016.

Commerce, restaurants, and hotels came in second thanks to an exceptional tourism season over the summer, which enabled it to grow by 8.7%. Agriculture, for its part, grew by 5.4% and construction overcame its stagnation with a slight recovery at 0.7% growth.