Uruguay’s GDP falls by 2.8% (Q1, 2021)

Uruguay’s gross domestic product fell by 2.8 percent year-on-year in the first quarter of 2021, following a 2.9 percent decline in the previous period.

This was the sixth consecutive quarter of contraction in GDP, as the country struggled with a growing pandemic after being considered a “success case” in 2020.

Main downward pressure was reported in professional activities & leasing (-7.0 percent vs -1.4 percent); health, education, real estate and other activities (-6.9 percent vs -6.0 percent); commerce, accommodation and supply of food and beverages (-6.0 percent vs -8.4 percent); and transportation & storage, information & communication (-4.6 percent vs –0.8 percent).

On the other hand, output increase in agriculture, fisheries and mining (10.4 percent vs 7.8 percent) and in construction (3.3 percent vs 7.5 percent).

On a seasonally adjusted quarterly basis, the economy fell by 0.5 percent.

Source: Trading Economics