In the second quarter of 2025, Uruguay's Gross Domestic Product (GDP) witnessed a year-on-year increase of 2.1%, a deceleration from the 3.6% growth observed in the prior quarter. This slowdown was indicative of reduced activity across several key sectors. Key contributors to this growth included agriculture, fishing, and mining industries, which surged by 10.6%, compared to the 6.3% growth in the first quarter. Despite a slowdown, the manufacturing sector still showed a noteworthy increase, rising by 7.6% following a significant 17.9% in the previous quarter. The financial services sector also positively impacted the economy, with a growth of 4.8%, slightly down from 5.1%.
Conversely, other sectors faced challenges. The utilities sector experienced a notable contraction of 7.9%, deepening from the previous quarter's 3.5% decline. Construction also saw a slight decrease, dropping 0.2% after a 1.5% decline. Meanwhile, trade, lodging, and food services managed marginal growth, registering 0.3%, down from the 2.5% growth recorded earlier. The transport and communications sector continued its downward trend with a 0.3% decline, following a 1% drop.
Overall, the gross value added for the economy increased by 1.9%, tapering from the previous 3.3%. Additionally, net taxes on products grew by 3.3%, maintaining the same growth rate as in the first quarter.
