Doing Business in Uruguay

Country overview

Uruguay is a small country in the southeast of South America, slightly larger than England.

Uruguay is a stable country. It has strong institutions and performs well on all major transparency and ease-of-doing-business indices. In the past ten years Uruguay’s economy has become more resilient and its exports more diversified. According to the World Economic Forum (WEF), it is the 10^th most competitive economy in Latin America and the Caribbean, with a GDP of around US $54.6 billion that has been growing at a faster rate (4.3% per year) than the regional average for several years.

In 2017 the trade balance of goods and services between the UK and Uruguay resulted in a UK trade surplus of £64 million.

The favourable environment for investment and the good economic performance of the country over the last decade have contributed to Uruguay being a reliable investment destination. With a 4.3% annual average GDP growth in the last decade, this period of strong economic expansion has been characterised by a noticeable increase in the rate of investment of the economy. This is due to greater investment by the private sector, strongly driven by the inflow of foreign direct investment, which is also a driver for innovation.

About this guide

This guide aims to provide a route map of the way ahead, together with signposts to other sources of help.

The main objective of this Doing Business in Uruguay Guide is to provide you with basic knowledge about Uruguay; an overview of its economy, business culture, potential opportunities and to identify the main issues associated with initial research, market entry, risk management and cultural and language issues.

We do not pretend to provide all the answers in the guide, but novice exporters in particular will find it a useful starting point. Further assistance is available from the Department for International Trade (DIT) team in Uruguay. Full contact details are available in this guide.

To help your business succeed in Uruguay we have carefully selected a variety of essential service providers as ‘Market Experts’ Click Here.

The guide is available in 4 formats:

• this website

• a ‘free’ downloadable 'mobile device-friendly’ app – available from the iTunes App Store and Google Play store

• a full colour hard-copy brochure (to order your copy please Click Here)

• PDF download/e-flipbook (available to download below)

About IOE&IT

An introduction to the Institute of Export & International Trade

Established in 1935, the Institute of Export & International Trade is the professional membership body representing and supporting the interests of everyone involved in importing, exporting and international trade. Offering a unique range of individual and business membership benefits and a world renowned suite of qualifications and training, the Institute is the leading authority in best practice and competence for businesses trading globally.

To view other videos, please visit the IOE&IT YouTube Channel.

For more information visit: www.export.org.uk