The GDP composition of Uruguay in 2023 highlights a service-driven economy, with the services sector contributing 45.62% to the GDP. Following are mining, manufacturing, and utilities at 17.4%, and wholesale, retail trade, restaurants, and hotels at 14.26%. Construction accounts for 10.45%, while agriculture, hunting, forestry, and fishing contribute 6.6%. The transport, storage, and communication sector adds 5.67% to the GDP. Over the past two years, economic growth has shown moderate variability but overall resilience given external economic pressures. The compound annual growth rate indicates a stable trend over the last five years.
Looking forward, key trends to watch include:
- The potential rise in the services sector as digital transformation accelerates.
- Sustainable practices potentially boosting the agricultural sector.
- Infrastructure developments impacting construction and transport sectors.
- The influence of global commodity prices on mining and manufacturing sectors.
Top countries in GDP Composition by Sector
| # | 6 Countries | Percent | Last Year | |
|---|---|---|---|---|
| 1 | 1 Services | 45.62 | 2016 | |
| 2 | 2 Mining, Manufacturing, Utilities | 17.4 | 2016 | |
| 3 | 3 Wholesale, retail trade, restaurants and hotels | 14.26 | 2016 | |
| 4 | 4 Construction | 10.45 | 2016 | |
| 5 | 5 Agriculture, hunting, forestry, fishing | 6.6 | 2016 | |
| 6 | 6 Transport, storage and communication | 5.67 | 2016 |
