MercoPress. South Atlantic News Agency

Uruguay: Economy grows 2.1% in 2Q of 2025

Oddone stressed that the government's expectations for the next five years were “feasible”

Uruguay's economy grew by 2.1% in the second quarter of 2025 compared to the same period in 2024, according to a report released on Monday by the Central Bank (BCU), which also noted a 0.4% growth from the previous quarter.

Agriculture, Fishing, and Mining expanded by 10.6% year-on-year, primarily due to a strong harvest of soybeans and corn, while Manufacturing also grew by 7.6%, largely driven by a boost in oil refining.

Household consumption increased by 2.3%, while financial services grew by 4.8%. Exports also saw a modest rise of 0.5%.

In electricity, gas, and water, there was a 7.9% year-on-year contraction, due to lower hydroelectric power generation.

In this scenario, the Government of President Yamandú Orsi forecasts a 2.6% growth rate. However, some economists believe the final figure may be closer to 2% based on the slowdown observed between the first and second quarters. Under the previous administration of President Luis Lacalle Pou, Uruguay recorded a 3.1% growth in 2024.

The average per capita income stood at UY$83,169 (around US$2,069).

Economy Minister Gabriel Oddone stressed that the government's expectations for the next five years were “feasible”