Compare Uruguay (2008) - Uruguay (2007)

Compare Uruguay (2008) z Uruguay (2007)

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	Uruguay (2008)	Uruguay (2007)

Agriculture - products	rice, wheat, soybeans, barley; livestock, beef; fish; forestry	rice, wheat, corn, barley; livestock; fish
Budget	revenues: $6.6 billion expenditures: $6.3 billion (2007 est.)	revenues: $5.56 billion expenditures: $5.67 billion (2006 est.)
Debt - external	$12 billion (30 September 2007)	$11.74 billion (2006 est.)
Economic aid - recipient	$14.62 million (2005)	$NA (2005)
Economy - overview	Uruguay's economy is characterized by an export-oriented agricultural sector, a well-educated work force, and high levels of social spending. After averaging growth of 5% annually during 1996-98, in 1999-2002 the economy suffered a major downturn, stemming largely from the spillover effects of the economic problems of its large neighbors, Argentina and Brazil. For instance, in 2001-02 Argentina made massive withdrawals of dollars deposited in Uruguayan banks, which led to a plunge in the Uruguayan peso and a massive rise in unemployment. Total GDP in these four years dropped by nearly 20%, with 2002 the worst year due to the banking crisis. The unemployment rate rose to nearly 20% in 2002, inflation surged, and the burden of external debt doubled. Cooperation with the IMF helped stem the damage. Uruguay in 2007 improved its debt profile by paying off $1.1 billion in IMF debt, and continues to follow the orthodox economic plan set by the Fund in 2005. The construction of a pulp mill in Fray Bentos, which represents the largest foreign direct investment in Uruguay's history at $1.2 billion, came online in November 2007 and is expected to add 1.6% to GDP and boost already rising exports. The economy has grown strongly since 2004 as a result of high commodity prices for Uruguayan exports, a strong peso, growth in the region, and low international interest rates.	Uruguay's well-to-do economy is characterized by an export-oriented agricultural sector, a well-educated work force, and high levels of social spending. After averaging growth of 5% annually during 1996-98, in 1999-2002 the economy suffered a major downturn, stemming largely from the spillover effects of the economic problems of its large neighbors, Argentina and Brazil. For instance, in 2001-02 Argentina made massive withdrawals of dollars deposited in Uruguayan banks, which led to a plunge in the Uruguayan peso and a massive rise in unemployment. Total GDP in these four years dropped by nearly 20%, with 2002 the worst year due to the banking crisis. The unemployment rate rose to nearly 20% in 2002, inflation surged, and the burden of external debt doubled. Cooperation with the IMF helped stem the damage. A debt swap with private-sector creditors in 2003 extended the maturity dates on nearly half of Uruguay's then $11.3 billion of public debt and helped restore public confidence. The economy grew about 12% in 2004 as a result of high commodity prices for Uruguayan exports, a competitive peso, growth in the region, and low international interest rates, and it continued to grow nearly 7% annually in 2005 and 2006.
Electricity - consumption	7.03 billion kWh (2007)	6.509 billion kWh (2005)
Electricity - exports	1 billion kWh (2007)	841 million kWh (2005)
Electricity - imports	780 million kWh (2007)	1.585 billion kWh (2005)
Electricity - production	9.2 billion kWh (2007)	7.558 billion kWh (2005)
Exchange rates	Uruguayan pesos per US dollar - 23.947 (2007), 24.048 (2006), 24.479 (2005), 28.704 (2004), 28.209 (2003)	Uruguayan pesos per US dollar - 24.048 (2006), 24.479 (2005), 28.704 (2004), 28.209 (2003), 21.257 (2002)
Exports	4,410 bbl/day (2007)	NA bbl/day
GDP - composition by sector	agriculture: 9.2% industry: 33% services: 57.8% (2007 est.)	agriculture: 9.3% industry: 31.6% services: 59.1% (2006 est.)
GDP - real growth rate	7.2% (2007 est.)	7% (2006 est.)
Imports	43,670 bbl/day (2007)	NA bbl/day
Imports - commodities	crude petroleum and petroleum products, machinery, chemicals, road vehicles, paper, plastics	machinery, chemicals, road vehicles, crude petroleum
Imports - partners	Argentina 20.4%, Brazil 17.1%, US 8.2%, Paraguay 7.2%, China 6.9%, Venezuela 4.8%, Nigeria 4.4% (2006)	Argentina 20.4%, Brazil 17.1%, US 8.2%, Paraguay 7.1%, China 6.9%, Venezuela 4.8%, Nigeria 4.4% (2006)
Industrial production growth rate	6% (2007 est.)	12.6% (2006 est.)
Inflation rate (consumer prices)	8.5% (2007)	6.4% (2006 est.)
International organization participation	CAN (associate), CSN, FAO, G-77, IADB, IAEA, IBRD, ICAO, ICC, ICCt, ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, LAES, LAIA, Mercosur, MIGA, MINURSO, MINUSTAH, MONUC, NAM (observer), OAS, OPANAL, OPCW, PCA, RG, UN, UNCTAD, UNESCO, UNFICYP, UNIDO, Union Latina, UNMEE, UNMOGIP, UNOCI, UNOMIG, UNWTO, UPU, WCL, WCO, WFTU, WHO, WIPO, WMO, WTO	CAN (associate), CSN, FAO, G-77, IADB, IAEA, IBRD, ICAO, ICC, ICCt, ICRM, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, LAES, LAIA, Mercosur, MIGA, MINURSO, MINUSTAH, MONUC, NAM (observer), OAS, OPANAL, OPCW, PCA, RG, UN, UNCTAD, UNESCO, UNFICYP, UNIDO, Union Latina, UNMEE, UNMOGIP, UNOCI, UNOMIG, UNWTO, UPU, WCL, WCO, WFTU, WHO, WIPO, WMO, WTO
Labor force	1.5 million (2007 est.)	1.27 million (2006 est.)
Labor force - by occupation	agriculture: 9% industry: 15% services: 76% (2007 est.)	agriculture: 14% industry: 16% services: 70% (2003)
Pipelines	gas 257 km; oil 160 km (2007)	gas 257 km; oil 160 km (2006)
Political parties and leaders	Broad Front Coalition (Frente Amplio) (formerly known as the Progressive Encounter/Broad Front Coalition or EP-FA); Colorado Party [Julio Maria SANGUINETTI]; Independent Party (Partido Independiente) [Pablo MIERES]; Movement of Popular Participation or MPP [Jose MUJICA]; National Party or Blanco [Jorge LARRANAGA]; New Sector/Space Coalition (Nuevo Espacio) [Rafael MICHELINI]; Uruguayan Assembly or Asamblea Uruguay [Danilo ASTORI]	Broad Front Coalition (Frente Amplio) [Jorge BROVETTO] (formerly known as the Progressive Encounter/Broad Front Coalition or EP-FA); Colorado Party [Julio Maria SANGUINETTI]; Independent Party (Partido Independiente) [Pablo MIERES]; Movement of Popular Participation or MPP [Jose MUJICA]; National Party or Blanco [Jorge LARRANAGA]; New Sector/Space Coalition (Nuevo Espacio) [Rafael MICHELINI]; Uruguayan Assembly or Asamblea Uruguay [Danilo ASTORI]
Telephone system	general assessment: fully digitalized domestic: most modern facilities concentrated in Montevideo; new nationwide microwave radio relay network; overall fixed-line and mobile-cellular teledensity is approaching 100 telephones per 100 persons international: country code - 598; the UNISOR submarine cable system provides direct connectivity to Brazil and Argentina; satellite earth stations - 2 Intelsat (Atlantic Ocean) (2002)	general assessment: fully digitalized domestic: most modern facilities concentrated in Montevideo; new nationwide microwave radio relay network international: country code - 598; satellite earth stations - 2 Intelsat (Atlantic Ocean) (2002)
Unemployment rate	9.2% (2007 est.)	10.8% (2006 est.)

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