Uruguay is considered a developing country. A nation's stage of development is determined by a number of factors, including economic prosperity, life expectancy, income equality, and quality of life. As a developing country, Uruguay may not be able to provide consistent social services to its citizens. These social services can include things like public education, reliable health care, and law enforcement. Developing country citizens may have a lower life expectancy than developed country citizens. Each year Uruguay exports around $ 10.5 billion and imports around $ 12.5 billion. 8.1% of the country's population are unemployed. The total number of unemployed in Uruguay is 281,034. In Uruguay, 18.6% of the population live below the poverty line. The proportion of citizens living below the poverty line in Uruguay is relatively high, but there is no cause for complete concern about investment. Potential financiers should look at other economic indicators, including GDP, rate of urbanization, and currency strength, before making any investment decisions. Government spending on education is 4.5% of GDP. The country's Gini index is 45.3. Uruguay is experiencing poor equality. The gap between the richest and poorest citizens of this country is palpable. Uruguay has a Human Development Index (HDI) of 0.79. Uruguay has a high HDI score. This suggests that the majority of citizens will be able to lead desirable lives while providing significant help and support to citizens with lower living standards. The Global Peace Index (GPI) for Uruguay is 1,721. Due to the strong presence of the law enforcement authorities and the high level of social responsibility, Uruguay is very safe by international standards. The strength of the Legal Rights Index for Uruguay is 4. Overall, it is viewed as rather inadequate - bankruptcy and security laws can protect the rights of borrowers and lenders to a certain extent; Credit information can be sufficient, but hardly available, or, conversely, it can be available but not sufficient.

Currency
The currency of Uruguay is Uruguayan peso. The plural form of the word Uruguayan peso is pesos. The symbol used for this currency is $, and it is abbreviated as UYU. The Uruguayan peso is divided into Centesimo; there are 100 in one peso.

Credit rating
The depth of credit information index for Uruguay is 8, which means that information is mostly sufficient and quite detailed; accessibility is not a problem. According to the S&P credit-rating agency, Uruguay has a credit rating score of BBB-, and the prospects of this rating are stable. According to the Fitch credit-rating agency, Uruguay has a credit rating score of BBB-, and the prospects of this rating are stable. According to the Moody's credit-rating agency, Uruguay has a credit rating score of Baa2, and the prospects of this rating are stable.

Central bank
In Uruguay, the institution that manages the state's currency, money supply, and interest rates is called Central Bank of Uruguay. Locally, the central bank of Uruguay is called Banco Central del Uruguay. The average deposit interest rate offered by local banks in Uruguay is 4.9%.

Public debt
Uruguay has a government debt of 57.2% of the country's Gross Domestic Product (GDP), as assessed in 2012.

Tax information
The corporate tax in Uruguay is set at 25%. Personal income tax ranges from 0% to 30%, depending on your specific situation and income level. VAT in Uruguay is 22%.

Finances

The gross domestic product (GDP) valued as purchasing power parity (PPP) amounts to a total of 71,675 billion US dollars in Uruguay. The gross domestic product (GDP), which is valued as purchasing power parity (PPP) per capita in Uruguay, was most recently at 21 million US dollars. PPP in Uruguay is considered below average compared to other countries. A below average PPP indicates that citizens in this country are finding it difficult to buy local goods. Local goods can include groceries, shelter, clothing, health care, personal hygiene, essential home furnishings, transportation and communications, laundry, and various types of insurance. Countries with below average PPPs are dangerous places to invest. The total gross domestic product (GDP) in Uruguay is 55,708 billion. Based on these statistics, Uruguay is considered to be medium-sized. Medium-sized countries support an average number of industries and investment opportunities. It shouldn't be too difficult to find worthwhile investment opportunities in medium-sized economies. The gross domestic product (GDP) per capita in Uruguay was last at 16 million US dollars. The average citizen in Uruguay has very little wealth. Countries with very low per capita wealth often have a lower life expectancy and a dramatically lower quality of life for their citizens. In countries with very low wealth, it can be very difficult to find a highly skilled workforce as it is difficult for citizens to get the education needed to specialize in industries. Compared to countries with higher wealth per capita, however, labor can be found at very low prices. The annual GDP growth rate in Uruguay averaged 2.8% in 2014. Accordingly, Uruguay is currently experiencing modest growth.

Industry
Major industries in the country are food processing, electrical machinery, transportation equipment, petroleum products, textiles, chemicals, beverages. The total labor force of Uruguay is 1,769,210 people, wherein 8.1% of population in the country are unemployed. The total number of unemployed people in Uruguay is 281,034. The Industrial Production growth rate of Uruguay is 6.6%.

http://www.confiduss.com/en/jurisdictions/uruguay/economy/