FX.co ★ Uruguay Industrial Growth Slows in April

In April 2025, Uruguay's manufacturing output increased by 7.2% compared to the same month the previous year, following a significant rise of 16.2% in March. The most notable positive impact came from the oil refining sector, which experienced an astounding 911% increase. This surge is primarily due to a low base of comparison, as the ANCAP refinery was undergoing maintenance shutdowns in April 2024. Additionally, a national tourism holiday in April this year, as opposed to March the previous year, had a negative effect on both production and working hours. Growth was also driven by the production of paper and paper products, which rose by 26.8%, and a modest 2.1% increase in food production. On the other hand, the pharmaceutical manufacturing sector faced a significant decline, contracting by 17.4%. The number of hours worked decreased by 4.7%, and there was a 1.8% reduction in employed personnel.