The Oriental Republic of Uruguay is in Southern South America bordering Argentina, Brazil, and the South Atlantic Ocean. Uruguay is about the size of the state of Washington and covers an area of176,215sq. kilometers. The total population is 3.32 million and is growing at a rate of 0.25% with 92% living in urban areas. The capital of Montevideo has a population of 1.34 with other main cities including Salto (103,000), and Paysandú (80,000). The people are governed by a constitutional republic and are mostly Roman Catholic. The primary language is Spanish, and the local currency is the Uruguayan Peso.
Uruguay’s economy has experienced a strong period of growth since a regional recession in 2002. It has some of the freest political and labor conditions in the world and therefore maintains a strong, well-educated labor force. Its main trade partners are Brazil, Argentina, Mexico, China, the US, Paraguay, Germany, and Nigeria. Its primary imports are crude petroleum and petroleum products, machinery, chemicals, road vehicles, paper, and plastics. Exports include meat, rice, leather products, wool, fish, and dairy products. Uruguay’s GDP (Purchasing Power Parity) is $54.67 billion and is growing at a real rate of 3.8% with an inflation rate of 8.1%. Uruguay ranked 89 out of 185 countries in the World Bank Group’s Ease of Doing Business Ranking.
|Demographic Data||Economic Data||Cultural & Other Data|
|Area (sq. km.)||176,215||GDP (PPP, $tn)||54.67||Capital||Montevideo|
|Population (million)||3.32||GDP Real Growth (%)||3.8||Other Large Cities||Salto|
|Population Growth(%)||0.25||per Cap GDP ($)||16,200||Primary Language||Spanish|
|PopulationUnder15yrs (%)||21.4||Prime Lending Rate (%)||11.2||Urbanization||92|
|Population below poverty line (%)||18.6||Inflation Rate%||8.1||Urban Growth||0.4|
|Agricultural Workers(% of the population)||13||Unemployment%||6.1||Literacy (population %)||98|
|Industrial Workers(% of the population)||14||Foreign Direct Investment ($bn)||15.2||Education spending% of GDP||2.9|
|Service Workers(% of the population)||73||Debt-External($bn)||21.07||CPI Score(1-100)*||72|
|Labor Force (mil)||1.691||Exports ($bn)||9.907||Corporate Income Tax %||30|
|Imports ($bn)||12.22||Ease of Doing Business Ranking **||89|
Click the links below for articles with more information on Franchising in Uruguay
Viva Global Expansion! Trade Mission to Latin America (2012)
Latin American Market Sizzles with U.S. Franchisors (2012)
Latin American Market Sizzles with U.S. Franchisors(2012)
Doing Business in Uruguay(2010)
US Commercial Service Market Report Uruguay(2008)
The Future of Latin America(2007)
* CPI Score is published by Transparency International and relates to the perceptions of the degree of corruption as seen by business people and country analysts and ranges between 100 (highly clean) and 0 (highly corrupt).
**Ease of Doing Business Ranking is determined by the World Bank Group and is ranked out of a possible 185 countries.www.doingbusiness.org
Most recent statistics have been taken from the CIA World Factbook unless noted otherwise.