nt to the
Southern Cone Common Market (MERCOSUR) customs union by implementing
MERCOSUR's common external tariff on most tradables on 1 January 1995.
Inflation in 1994 declined for the third consecutive year, yet, at
44%, it remains the highest in the region; analysts predict that the
expanding fiscal deficit and wage indexation will force the inflation
rate back toward the 50% mark in 1995.

National product: GDP - purchasing power parity - $23 billion (1994
est.)

National product real growth rate: 4% (1994 est.)

National product per capita: $7,200 (1994 est.)

Inflation rate (consumer prices): 44% (1994 est.)

Unemployment rate: 9% (1994 est.)

Budget:
revenues: $2.9 billion
expenditures: $3 billion, including capital expenditures of $388
million (1991 est.)

Exports: $1.78 billion (f.o.b., 1994 est.)
commodities: wool and textile manufactures, beef and other animal
products, leather, rice
partners: Brazil, Argentina, US, China, Italy

Imports: $2.461 billion (c.i.f., 1994 est.)
commodities: machinery and equipment, vehicles, chemicals, minerals,
plastics
partners: Brazil, Argentina, US, Nigeria

External debt: $4.2 billion (1993)

Industrial production: growth rate 3.9% (1992); accounts for 28% of
GDP

Electricity:
capacity: 2,070,000 kW
production: 9 billion kWh
consumption per capita: 1,575 kWh (1993)

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

Agriculture: accounts for 12% of GDP; large areas devoted to livestock
grazing; wheat, rice, corn, sorghum; fishing; self-sufficient in most
basic foodstuffs

Economic aid:
recipient: US commitments, including Ex-Im (FY70-88), $105 million;
Western (non-US) countries, ODA and OOF bilateral commitments
(1970-89), $420 million; Communist countries (1970-89), $69 million

Currency: 1 Uruguayan peso ($Ur) = 100 centesimos

Exchange rates: Uruguayan pesos ($Ur) per US$1 - 5.6 (January 1995),
4.4710 (January 1994), 3.9484 (1993), 3.0270 (1992), 2.0188 (1991),
1.1710 (1990)
note: on 1 March 1993 the former New Peso (N$Ur) was replaced as
Uruguay's unit of currency by the Peso which is equal to 1,000 of the
New Pesos

Fiscal year: calendar year

@Uruguay:Transportation

Railroads:
total: 3,000 km
standard gauge: 3,000 km 1.435-m gauge

Highways:
total: 49,900 km
paved: 6,700 km
unpaved: gravel 3,000 km;