Community of Latin American and Caribbean States (CELAC)
EU-CELAC Summit.
Global Economic Organizations:
UN
UNCTAD;
ITC;
WIPO.
WB;
IMF;
Community of Portuguese Speaking Countries (observer country).
The Oriental Republic of Uruguay
Uruguay is a gateway and the geographical centre of the MERCOSUR (295 million people);
Uruguay is the political and financial centre of South America;
The Headquarters of the MERCOSUR and the Latin American Integration Association (ALADI) are in Montevideo;
Uruguay has a long political and economic stability;
According to “The Economist,” Uruguay is considered as the most democratic Latin American Economy;
Uruguay has an established a political party system and is the first country in Latin America, along with
Chile, with the less
Corruption Perceptions Index (“Transparency International”);
According to the United Nations Development Programme, Uruguay is the third country in Latin America (after Argentina and Chile), with the
highest Human Development Index;
98% of the Uruguayan population has access to drinking water and electricity;
Borders of Uruguay:
Brazil and Argentina;
Uruguayan Population: 3.3 million people;
Area of Uruguay: 176,215 square kilometers;
Capital of Uruguay: Montevideo;
Uruguayan currency is the peso (UYU);
The official language of Uruguay is Spanish;
Uruguay is administratively divided into nineteen departments;
Abolition of Slavery in Uruguay:
1842;
African Diaspora in Uruguay: 0.1 million people (4% of the Uruguayan population).
Uruguay belongs to the Latin American Economic area of the Western Civilization.
Uruguayan Economy
The economic activity has augmented considerably within a context marked by the inflation under control and public sector accounts in line with the objectives of the Government of the Oriental Republic of Uruguay;
Twelve years of the economic growth (3.5%);
The Uruguayan services sector (financial, logistics and transport, and communications) has grown considerably in the recent years;
We must emphasize the significant information technology (IT) growth,
including the software development and related services;
Montevideo, the capital of Uruguay, is geographically the main
Maritime cargo
route of the MERCOSUR, the integration axis with Argentina, Brazil, and Paraguay to be within the influence area of almost 200 million people, with the highest gross domestic product per capita in Latin America.
International Trade of Uruguay.
Uruguay is the largest software exporter per capita in Latin America and third in absolute terms;
Uruguay is eminently an agricultural export economy;
Uruguayan exports rose 2.5%, and imports saw a drop of 8.6%, which led to a
positive net external balance;
The largest Uruguayan export product is soy (67 million dollars),
accounting for 21% of the exports from Uruguay;
The Oriental Republic of Uruguay has diversified its exports destination;
Main Uruguayan export destinations are the Free Zone of Nueva Palmira, Brazil (15%), Russia (7%), and Argentina (7%);
Brazil is the second-largest export destination, the main exported products barley malt (17.6%) and whole milk powder (11.5%);
Uruguayan private sector has grown at a sustained speed;
Foreign direct investment (FDI) reached a historical record.
Uruguayan Free Zones.
The promotion and development of free zones to the foreign direct investment
encouragement, exports, employment, and international economic integration have been declared of national interest by law;
There are now free zones in Colonia, Nueva
Palmira, Montevideo, Florida, Rivera, Black River, New Helvetia, and Freedom.
(c) EENI Global Business School (1995-2023)
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