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.

GDP (purchasing power parity):

$37.5 billion (2007 est.)

GDP (official exchange rate):

$22.95 billion (2007 est.)

GDP - real growth rate:

7.4% (2007 est.)

GDP - per capita (PPP):

$10,800 (2007 est.)

GDP - composition by sector:

agriculture: 10.1%
industry: 32%
services: 57.9% (2007 est.)

Labor force:

1.631 million (2007 est.)

Labor force - by occupation:

agriculture: 9%
industry: 15%
services: 76% (2007 est.)

Unemployment rate:

9.2% (2007 est.)

Population below poverty line:

27.4% of households (2006)

Household income or consumption by percentage share:

lowest 10%: 1.9%
highest 10%: 34% (2003)

Distribution of family income - Gini index:

45.2 (2006)

Investment (gross fixed):

13.9% of GDP (2007 est.)

Budget:

revenues: $6.701 billion
expenditures: $6.807 billion (2007 est.)

Fiscal year:

calendar year

Public debt:

64.8% of GDP (2007 est.)

Inflation rate (consumer prices):

8.1% (2007 est.)

Central bank discount rate:

10% (31 December 2007)

Commercial bank prime lending rate:

8.94% (31 December 2007)

Stock of money:

$2.145 billion (31 December 2007)

Stock of quasi money:

$7.919 billion (31 December 2007)

Stock of domestic credit:

$6.396 billion (31 December 2007)

Agriculture - products:

rice, wheat, soybeans, barley; livestock, beef; fish; forestry

Industries:

food processing, electrical machinery, transportation equipment,
petroleum products, textiles, chemicals, beverages

Industrial production growth rate:

7.9% (2007 est.)

Electricity - production:

9.2 billion kWh (2007)

Electricity - consumption:

7.03 billion kWh (2007)

Electricity - exports:

995.4 million kWh (2007 est.)

Electricity - imports:

788.4 million kWh (2007 est.)

Electricity - production by source:

fossil fuel: 0.7%
hydro: 99.1%
nu