The Uruguayan economy resumed growth during the first quarter of the year
The expansion of the GDP to overcome the recession was 0.9% in relation to the last quarter of 2022 and 1.2% in the interannual measurement.
The Gross Domestic Product (GDP) of Uruguay had an increase of 1.2% in the first quarter of 2023, in relation to the same period of the previous year, as reported this Thursday by the Central Bank of Uruguay (BCU).
Based on the BCU National Accounts report, in seasonally adjusted terms, the Uruguayan economy grew 0.9% compared to the fourth quarter of 2022.
Thus, the Uruguayan economy overcame the recession it entered last year, when it accumulated two consecutive quarters of decline.
The manager of Economic Analysis of the consultancy CPA Ferrere, Nicolás Cichevski, highlighted through his Twitter account that, from the focus of spending, private consumption grew by 2.6% year-on-year. For their part, exports grew 14% due to the opening of borders to tourism, while investment moderated its growth to 2.3% year-on-year, said the economist.
