The Uruguayan Economy There is free remittance of capital URUGUAY AT A GLANCE:
Uruguay is a fast growing economy with and profits, and investments are an interesting market potential despite its commonly allowed without prior Generel Information relatively small size. In 2014 Danish authorization. Although the global exports to Uruguay totalled DKK 852 financial crisis slowed down growth, Area: 176.215km2 million. In the period 2007 – 2014, Danish Uruguay managed to avoid a Population: 3.4 million export to Uruguay increased by 610%. With recession and maintained a steady Capital: Montevideo growth of 5.7% in 2011, 3.7% in 2012, a central location in South America, 13 free Currency: Uruguayan Peso trade zones, and well developed and 5% in 2013. Current estimates (UYU) infrastructure, Uruguay provides good for 2015 are around 3.4%. Head of State: Tabaré opportunities for showcasing and as an Vázquez entry point to South America. Furthermore, Uruguay is high in Government structure: transparency rankings, at same levels of DID YOU KNOW THAT… Bicameral Parliamentary Chile. On top of that, more than 3 million system. Senate with 31 … in Uruguay there are no members and a Chamber of tourists from Argentina, Brazil and the US restrictions on profit transfers or Deputies with 99 members. visit the coast of Uruguay every year. capital repatriation, for which no prior permission is required from Economic Outlook the authorities…
DID YOU KNOW THAT… GDP pr. capita (2015): USD
18,310 … Uruguay’s purchasing power has GDP growth (2015): 3.4% increased by 70% the last 4 years… Uruguay offers a non-discriminatory Inflation rate, official (2014): treatment between local and 8% foreign investors, and with its 13 Danish export to Uruguay free trades zones, Uruguay is the perfect showcase market and entry (2015): DKK 1,1 mia. Doing business in Uruguay point to South America. Denmark´s Growth in Danish export to Uruguay is a market-oriented economy in official export credit agency (EKF) Uruguay 2007 – 2014: 610% which the state plays an important role. Uruguay’s investment climate is generally qualifies Uruguay as having a good WB Doing Business (2016): positive. Foreign and national investors business climate and below-average place 92nd of 189 are treated alike. payment risk. Competitiveness Index (2016): 73th place of 140 DOING BUSINESS IN URUGUAY – A GATEWAY TO LATIN AMERICA
Promising sectors in Uruguay How Can We Add Value To Your
There is an increased demand for Company? food ingredients and equipment Consumer goods to the food processing industry. The Embassy of Denmark in Imports of goods and services Argentina can add value to your have increased by 50% from 2013. Imports of consumer-oriented company by: agricultural products in 2011 There is an increasing number of reached approx. USD 450 million. Using our local network of wealthy tourists from especially public and private stakeholders, Argentina, Brazil and the USA. Uruguay celebrated in 2012 the Construction equipment related business associations, visit of 3 million tourists, almost The construction machinery chambers and exhibitions to market depends predominantly acquire relevant market equivalent to their own on imports. In 2013, total imports information. population of 3.4 million. were valued at USD 370 million. Using our local knowledge to The capital city of Montevideo ‘knock’ on the correct doors to Rising private consumption in and Punta Del Este are the most obtain pertinent market Uruguay is a positive promising areas. information and key development for foreign brands entering the region. There are construction-related stakeholder contacts. projects in shopping malls, ports, Endorsing your company to key hotels and residential decision makers and potential construction. distributors. Participating and arranging Investment in heavy equipment is likely to continue over the next meetings with relevant years to support growth in stakeholders. infrastructure construction activity. Contact Information The commercial team at the Danish Embassy Challenges when Doing in Buenos Aires Business in Uruguay Agriculture, food processing & Small size market the dairy sector Access to decision makers Agriculture plays an important Understanding local business role in Uruguay’s economy and represents 10% of the GDP. For culture and bureaucracy example, Uruguay imports 75% of the fertilizers it consumes. In the period 2009-2011 imports of Rating Uruguay fertilizers increased by 93%. Jonas Bøving Christiansen | jonchr@um.dk | Additionally, beef exports in 2015 Corruption Index (2014): rank Head of Commercial Department are forecast at 435,000 tons, the 21st out of 183 S&P’s Economic/Industry second highest on record. China is Risk: 6/7 out of 10 Tea Marie Nielsen | teanie@um.dk | the country’s number one beef Heritage Economic Freedom: Commercial Department market for export. place 29th of 179 Thomas Pinós Reither| thomre@um.dk | Dairy exports increased by 22% in Commercial Department the same period. Agriculture will experience a 4% growth in 2015.