Uruguay’s GDP Growth Slows to 3.4% in Q1

Uruguay’s GDP expanded by 3.4% in the March quarter of 2025, easing slightly from 3.5% growth in the previous quarter, after reaching its fastest pace since the June quarter of 2022.

The slight slowdown was driven by softer export growth, which rose 4.2% compared to 4.4% in Q4.

Meanwhile, imports accelerated to 5.6%, up from 3.8%, and government spending also picked up, growing 4.3% versus 3.3% in the prior quarter.

Capital formation showed notable improvement, surging 11.9% after a 5.4% increase in Q4.

However, household consumption growth slowed to 2.1% from 2.7%, signaling some weakness in domestic demand.