FX.co ★ Uruguay’s GDP Growth Slows to 3.4% in Q1

Uruguay's GDP grew by 3.4% in the first quarter of 2025, a slight deceleration from the 3.5% growth observed in the previous quarter, which marked the most rapid growth since the second quarter of 2022. This marginal slowdown can be attributed to a moderation in export growth, which increased by 4.2%, down from 4.4% in the last quarter. In contrast, imports experienced an uptick, rising to 5.6% from 3.8%, and government spending gained momentum, increasing by 4.3% compared to 3.3% in the previous quarter. Investment in capital assets showed considerable progress, surging by 11.9%, up from a 5.4% rise in the fourth quarter. Nevertheless, household consumption growth decelerated to 2.1% from 2.7%, indicating some softness in domestic demand.