Investment in fixed capital recorded strong growth in 2021. The Investment Index in Machinery and Equipment (IMEQ) published by the Chamber of Industries of Uruguay (CIU) grew 26.8% year-on-year for the total economy and 12.1% for industry in relation to 2020. The IMEQ of the private sector did so at 29.2%.
If free zones are excluded, the IMEQ varied 17.2% in general and 18.6% in the private sector. In the public sector, the IMEQ increased 3.1%, where equipment purchases from UTE and Antel stood out, according to the CIU.
According to the report of the Chamber of Industries, the largest industrial companies importing capital goods belonged to the Food and Beverage sector (Conaprole and Oriental Maltingin 1st and 2nd positions), Wood, Paper and Printing (dank3rd position), Basic Metallics and Non-Metallic Minerals (Asmodyposition 4°) and Plastics (crystalpetin the 5th position).
According to the CIU, “public investment in machinery and equipment remains at historically low levels“. The report explained that the IMEQ of the public sector grew 3.1% compared to 2020 but, excluding seasonal and irregular factors, the indicator fell 2.3% in the fourth quarter of 2021 compared to the immediately previous period.
The Chamber considered that Investment in capital goods in the public sector is three times what it was two decades ago, but it is far from the peak reached in 2014when it multiplied eight times the amounts of the crisis. Already since 2015, the index never reached 500 points again (based on 100 in 2002).
