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Uruguay: Balance of Payments
Country Study > Chapter 3 > The Economy > External Sector > Balance of Payments

BALANCE OF PAYMENTS


Uruguay's trade balance was positive and steadily improving during most of the 1980s. However, the current account balance remained negative until the mid-1980s because of the burden of debt service. In 1986, 1988, and 1989, the trade balance was large enough to make the current account balance positive. An exception to this pattern was 1987 because imports surged as the economy recovered from the recession. The capital account balance was positive for most of the 1980sbecause Uruguay continued to borrow from abroad to help cover its debt-service payments and because foreigners continued to deposit money in Uruguayan banks. Uruguay's reserves decreased during most years, but as of 1988 the nation still had substantial gold reserves -- more than 80 tons. During the 1989 presidential campaign, at least one candidate proposed selling the gold reserves to pay off the foreign debt. Lacalle opposed such a plan, however.

Data as of December 1990




Last Updated: December 1990


Editor's Note: Country Studies included here were published between 1988 and 1998. The Country study for Uruguay was first published in 1990. Where available, the data has been updated through 2008. The date at the bottom of each section will indicate the time period of the data. Information on some countries may no longer be up to date. See the "Research Completed" date at the beginning of each study on the Title Page or the "Data as of" date at the end of each section of text. This information is included due to its comprehensiveness and for historical purposes.

Note that current information from the CIA World Factbook, U.S. Department of State Background Notes, Australia's Department of Foreign Affairs and Trade Country Briefs, the UK's Foreign and Commonwealth Office's Country Profiles, and the World Bank can be found on Factba.se.

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