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Country name:

conventional long form: Oriental Republic of Uruguay
conventional short form: Uruguay
local long form: Republica Oriental del Uruguay
local short form: Uruguay
former: Banda Oriental, Cisplatine Province

 

Capital:

Montevideo. Population: 1.35 million (2007).
 

 

Location:

Southern South America, bordering the South Atlantic Ocean, between Argentina and Brazil

 

Area:

176,215 sq km (68,037 sq miles).
 

 

Description:

Uruguay is bordered to the north by Brazil, to the southeast by the Atlantic, and is separated from Argentina in the west and south by the River Uruguay, which widens out into the Rio de la Plata estuary. The landscape is made up of hilly meadows broken by streams and rivers. There are a string of beaches along the coast. Most of the country is grazing land for sheep and cattle. Montevideo, the most southern point of the nation, accommodates nearly half of the population. About 90% of the land is suitable for agriculture, although only 12% is used in this way.
 

 

map of Uruguay

Population:

3.5 million (UN estimate 2008).
 

 

Languages:

Spanish. Some English is spoken in tourist resorts
 

 

Climate:

Uruguay has an exceptionally fine temperate climate, with mild summers and winters. Summer is from December to March and is the most pleasant time; winter and spring can get chilly due to wind and rain, but temperatures remain dependably above freezing.

Economy - overview:

Uruguay is one of the more prosperous Latin American countries. The economy has a traditionally strong agricultural sector, with beef and wool being the most important products; dairy exports to other Latin American countries are substantial. Crop farming is widespread, producing mostly cereals, rice, fruit and vegetables.

Manufacturing is concentrated in oil and coal-derived products, chemicals, textiles, transport equipment and leather products. The oil and coal, both for manufacturing and energy consumption (the latter supplemented by Uruguay's own hydroelectricity stations), are imported. Mining is confined to small-scale extraction of building materials, industrial minerals and some gold. The tourism industry brings in just under US$1 billion annually.

Uruguay's economic health depends heavily on that of its two large neighbours, Argentina and Brazil. In August 2002, both Argentina and, to a lesser extent, Brazil were gripped by financial crises. This led to a collapse in the cross-border trade upon which Uruguay is heavily dependent.

The government was forced to take emergency measures in the form of currency devaluation, loan rescheduling and, in an unusually drastic move, closing down the country's entire financial system as it approached meltdown. It also appealed for support from the IMF, which responded with a US$3 billion package. With the worst of the crisis past, Uruguay is now returning to something approaching economic health. Annual growth reached 7.2% in 2007. Inflation in 2007 was 8.5%.

Uruguay is a member of Mercosur, the principal regional trade bloc, as well as the Asociaci?�n Latinoamericana de Integraci?�n (ALADI) and the Inter-American Development Bank.

Economy:

Uruguay is one of the more prosperous Latin American countries. The economy has a traditionally strong agricultural sector, with beef and wool being the most important products; dairy exports to other Latin American countries are substantial. Crop farming is widespread, producing mostly cereals, rice, fruit and vegetables.

Manufacturing is concentrated in oil and coal-derived products, chemicals, textiles, transport equipment and leather products. The oil and coal, both for manufacturing and energy consumption (the latter supplemented by Uruguay's own hydroelectricity stations), are imported. Mining is confined to small-scale extraction of building materials, industrial minerals and some gold. The tourism industry brings in just under US$1 billion annually.

Uruguay's economic health depends heavily on that of its two large neighbours, Argentina and Brazil. In August 2002, both Argentina and, to a lesser extent, Brazil were gripped by financial crises. This led to a collapse in the cross-border trade upon which Uruguay is heavily dependent.

The government was forced to take emergency measures in the form of currency devaluation, loan rescheduling and, in an unusually drastic move, closing down the country's entire financial system as it approached meltdown. It also appealed for support from the IMF, which responded with a US$3 billion package. With the worst of the crisis past, Uruguay is now returning to something approaching economic health. Annual growth reached 7.2% in 2007. Inflation in 2007 was 8.5%.

Uruguay is a member of Mercosur, the principal regional trade bloc, as well as the Asociaci?�n Latinoamericana de Integraci?�n (ALADI) and the Inter-American Development Bank.
 

 

Industries:

food processing, electrical machinery, transportation equipment, petroleum products, textiles, chemicals, beverages

 

Exports:

Meat, wool, leather products, fish and rice.

Imports:

Machinery, chemicals, fuel and vehicles.

Main trade partners: Brazil, Argentina, USA and China.

Exchange rates:

Peso Uruguayo (UYU; symbol $U) = 100 cent?�cimos. Notes are in the denominations of $U2,000, 1,000, 500, 200, 100, 50, 20, 10 and 5. Coins are in denominations of $U10, 5, 2 and 1 and 50 cent?�cimos.
http://www.worldtravelguide.net/country/293/money/South-America/Uruguay.html


GDP :

US$22.9 billion (2007).
 

 

Useful links:

  • Ministries & Organization
  • Trade Associations & Chamber of Commerce
 

 

 

 

 

 

 

 

 

 

  Copyright By :  Kish Trade Promotion Center  2002