er 1776, Montevideo
mailing address: APO AA 34035
telephone: [598] (2) 203 60 61, 408 77 77
FAX: [598] (2) 408 86 11

Flag description: nine equal horizontal stripes of white (top and
bottom) alternating with blue; there is a white square in the upper
hoist-side corner with a yellow sun bearing a human face known as the
Sun of May and 16 rays alternately triangular and wavy

@Uruguay:Economy

Economy-overview: Uruguay's small economy benefits from a favorable
climate for agriculture and substantial hydropower potential. Economic
development has been restrained in recent years by high-though
declining-inflation and extensive government regulation. The
SANGUINETTI government's conservative monetary and fiscal policies are
aimed at continuing to reduce inflation; other priorities include
extensive reform of the social security system and increased
investment in education. Economic performance remains sensitive to
conditions in Argentina and Brazil, largely because more than half of
Uruguay's trade is conducted with its partners in Mercosur (the
Southern Cone Common Market).

GDP: purchasing power parity-$29.1 billion (1997 est.)

GDP-real growth rate: 5.1% (1997)

GDP-per capita: purchasing power parity-$8,900 (1997 est.)

GDP-composition by sector:
agriculture: 10.8%
industry: 27.4%
services: 61.8% (1995)

Inflation rate-consumer price index: 15.2% (1997)

Labor force:
total: 1.38 million (1997 est.)
by occupation: government 25%, manufacturing 19%, agriculture 11%,
commerce 12%, utilities, construction, transport, and communications
12%, other services 21% (1988 est.)

Unemployment rate: 10.3% (December 1997)

Budget:
revenues: $4 billion
expenditures: $4.3 billion, with capital expenditures of $385 million
(1997 est.)

Industries: meat processing, wool and hides, sugar, textiles,
footwear, leather apparel, tires, cement, petroleum refining, wine

Industrial production growth rate: 5.6% (1997)

Electricity-capacity: 2.055 million kW (1995)

Electricity-production: 7.6 billion kWh (1995)

Electricity-consumption per capita: 1,852 kWh (1995)

Agriculture-products: wheat, rice, corn, sorghum; livestock; fishing

Exports:
total value: $2.7 billion (f.o.b., 1997)
commodities: wool and textile manufactures, beef and other animal
products, rice, fish and shellfish, chemicals
partners: Brazil, Argentina, US, Germany, Italy

Imports:
total value: $3.7 billion (c.i.f., 1997)
commodities: machinery