The rank of Uruguay from the poorest is 121 and from the richest is 83 with gdp per capita using atlas method in 2003 is 3,820 $. In other measurement IMF, WB, and CIA using nominal method in 2007, 2007, and 2008 is
IMF..........................................WB..............................................CIA
rank/measure.........................rank/measure...............................rank/measure
62/7,268..............................52/6,956.................................66/6,632
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 1996-1998, 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 2001-2002, 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 four years by nearly 20%, with 2002 the worst
year. The unemployment rate rose, inflation surged, and the burden of external
debt doubled. Financial assistance from the IMF helped stem the damage. Uruguay
restructured its external debt in 2003 without asking creditors to accept a
reduction on the principal. Economic growth for Uruguay resumed, and averaged 8%
annually during the period 2004-2008.
The 2008-2009 global financial crisis put a brake on Uruguay’s vigorous
growth, which decelerated to 2.9% in 2009. Nevertheless, the country managed to
avoid a recession and keep positive growth rates, mainly through higher public
expenditure and investment, and GDP growth exceeded 8% in 2010.
Labor force: 1.637 million (2010 est.)
Labor force by occupation: Agriculture: 13%
Industry:
14%
Services: 73% (2010 est.)
Exports: $6.7 billion (2010 est.)
Export commodities: Beef, soybeans, cellulose, rice, wheat,
wood, dairy products and wool.
Imports: $8.3 billion (2010 est.)
Import commodities: Crude oil, refined oil, passenger
vehicles, transportation vehicles, vehicles parts, cellular phones, and
insecticides.
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