#1 Economy of Uruguay by DavisThompson 19.01.2023 02:09

Uruguay is considered a developing country. A nation's level of development is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality and quality of life. As a developing country, Uruguay may not be able to provide consistent social services to its citizens. These social services can include things like public education, reliable health care, and law enforcement. Citizens of developing countries may have a lower life expectancy than citizens of developed countries. Uruguay exports about US$10.5 billion and imports about US$12.5 billion each year. 8.1% of the country's population is unemployed. The total number of unemployed in Uruguay is 281,034. In Uruguay, 18.6% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Uruguay is quite high, but it is not a cause for great concern in terms of investments. Potential lenders should look at other economic indicators, including GDP, the rate of urbanization and the strength of the currency, before making investment decisions. Government spending on education is 4.5% of GDP. The country's Gini index is 45.3. Uruguay is experiencing poor equality. The gap between the richest and poorest citizens in this country is quite palpable. Uruguay has a Human Development Index (HDI) of 0.79. Uruguay has a high HDI score. This suggests that the majority of citizens will be able to live a worthwhile life while providing significant help and support to citizens with lower living standards. The Global Peace Index (GPI) for Uruguay is 1.721. Due to the strong presence of the law enforcement authorities and the high level of social responsibility, Uruguay is very safe in international comparison. The Index of Strength of Legal Rights for Uruguay is 4. Overall, it is considered rather insufficient - bankruptcy and collateral laws can protect the rights of borrowers and lenders to some extent; Credit information may be sufficient but scarcely available, or conversely, available but not sufficient.

Currency
The currency of Uruguay is the Uruguayan peso. The plural form of the word Uruguayan peso is pesos. The symbol used for this currency is $ and is abbreviated as UYU. The Uruguayan peso is divided into centesimo; there are 100 in a peso.

Credit rating
The credit rating depth index for Uruguay is 8, which means that the information is mostly sufficient and fairly detailed; Accessibility is not a problem. According to the rating agency S&P, Uruguay has a credit rating of BBB- and the prospects for this rating are stable. According to the rating agency Fitch, Uruguay has a credit rating of BBB- and the prospects for this rating are stable. According to the rating agency Moody's, Uruguay has a credit rating of Baa2 and the prospects for this rating are stable.

Central bank
In Uruguay, the institution that manages the state's currency, money supply, and interest rates is called the Central Bank of Uruguay. Locally, the central bank of Uruguay is called the Banco Central del Uruguay. The average interest rate on deposits offered by local banks in Uruguay is 4.9%.

National debt
Uruguay has a public debt equal to 57.2% of the country's gross domestic product (GDP) as estimated in 2012.

Control information
Corporate income tax in Uruguay is 25%. Personal income tax ranges from 0% to 30% depending on your specific situation and income level. The VAT in Uruguay is 22%.

Finances
The total Gross Domestic Product (GDP) valued as Purchasing Power Parity (PPP) in Uruguay is US$71675 billion. The gross domestic product (GDP) per capita calculated as purchasing power parity (PPP) in Uruguay was last at 21 million US dollars. PPP in Uruguay is considered below average compared to other countries. Below-average PPPs indicate that citizens in this country find it difficult to buy local goods. Local goods can include food, shelter, clothing, healthcare, personal hygiene, essential furnishings, transportation and communications, laundry, and various types of insurance. Countries with below-average purchasing power parities are dangerous locations for investments. The total Gross Domestic Product (GDP) in Uruguay is 55,708 billion. Based on this statistic, Uruguay is considered to be of moderate economic strength. Middle economy countries support an average number of industries and investment opportunities. It shouldn't be too difficult to find worthwhile investment opportunities in mid-sized economies. The gross domestic product (GDP) per capita in Uruguay was recently 16 million dollars. The average citizen in Uruguay has very little wealth. Countries with very low wealth per capita often have lower life expectancies and a dramatically lower quality of life for their citizens. In countries with very low levels of prosperity, it can be very difficult to find a highly skilled workforce as citizens find it difficult to obtain the training required for specialized industries. However, labor can be found at very low rates compared to countries with higher wealth per capita. The annual GDP growth rate in Uruguay averaged 2.8% in 2014. According to this percentage, Uruguay is currently experiencing modest growth.

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