Uruguay’s economy expands 3.7% in the first quarter compared to a year ago

Saturday, June 15th 2013 - 02:33 UTC

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Abundant rainfall helped a strong hydro electric generation

Uruguay’s economy expanded 1.2% in the first quarter of the year compared to the last quarter of 2012, which had a poor performance of 0.1%, according to the latest release from the Central Bank. Likewise in the first quarter the economy increased 3.7% over the same period a year ago.

Growth was based principally on the positive performance of energy and telecommunications supply, agriculture and livestock and financial intermediation, says the central bank report. A more rainy first quarter than in 2012, helped agriculture and hydroelectric generation. This had an impact because hydro generated electricity has a greater gross aggregate value than that from thermal plants.

Transport, storage and communications increased 4.4% but this was mainly because communications more than compensated a poor performance of storage and transport.

In the item transport ‘remains as a big setback the lesser activity from air transport as a direct consequence of closing down Uruguay’s flag carrier Pluna”, said the central bank report.

The Uruguayan government expects 4% growth for full-year 2013, while private analysts forecast more modest expansion of 3.59%, according to a central bank poll.

In related news the latest Outlook from the World Bank forecasts that Uruguay’s economy this year will expand 3.8% and 4.1% in 2014, and 4.3% in 2015, compared to 3.3% and 3.8% for the Latinamerican region in the short and medium term.

Categories: Economy, Uruguay.

Tags: Central Bank of Uruguay, Uruguay.

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reality check
Wow almost as good as Argentinas figures, with one slight exception, Uruguays are more reliable and more likely to be true!
Jun 15th, 2013 - 03:51 am 0
mordermeperras
Wonder how many bags of CFK's went with them?.
Jun 15th, 2013 - 01:22 pm 0
ChrisR
“Uruguay’s economy expands 3.7% in the first quarter”
“Uruguay’s economy expanded 1.2% in the first quarter of the year compared to the last quarter of 2012, which had a poor performance of 0.1%”

So, in summary: bad year last year (first quarter is the height of the season and the season was well down) but we did better this year.

Unsurprising that telecoms was strong, the people in charge know what they are doing compared with those running UTE who seem fixated on the complete waste of money that is windmills.

“In the item transport ‘remains as a big setback the lesser activity from air transport as a direct consequence of closing down Uruguay’s flag carrier Pluna”, said the central bank report.”

This is what you get from meddling by the various governments in the airline ‘industry’ that does not exist in Uruguay. Why did Uruguay EVER need a flag carrier with less than 3M people, the vast majority of who would never be able to afford a ticket? Government VANITY is the answer, and they are supposed to be commies / socialists!
Jun 15th, 2013 - 02:23 pm 0

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