Uruguayan industry grows 6.6% between January and August 2022

Uruguay’s manufacturing output grew by an average of 6.6 percent between January and August this year, compared to the same period in 2021, mainly due to food processing, the National Statistics Institute (INE) announced today.

The sector with the largest positive impact on the volume index of manufacturing (IVFIM) in the first eight months of the year corresponded to the “manufacture of other food products” (such as soups, coffee, honey, and concentrated juices) with an increase of 18.7 percent and a weight of 7.4 percentage points in the total volume.

The manufacture of motor vehicles increased by 163.3 percent, the production of wood and wood products by 26 percent, and petroleum refining by 7.7 percent.

Pharmaceuticals and fabricated metal products were the most affected, with negative changes of 9.3 and 16.4 percent, respectively.

IVFIM registered a 9.3 percent year-on-year increase in August this year, compared to 8.7 percent in the mobile year ending in August.

The government of President Luis Lacalle Pou expects Uruguay’s gross domestic product (GDP) to grow by 4.8 percent in 2022, following a 4.4 percent increase in 2021.

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