What type of economy does Uruguay have?

What type of economy does Uruguay have?

Uruguay has a mixed economic system in which there is a variety of private freedom, combined with centralized economic planning and government regulation. Uruguay is a member of the Common Market of the South (Mercosur).

What is Uruguay’s government?

Unitary statePresidential systemConstitutional republic

Uruguay is a representative democratic republic with a presidential system. The members of government are elected for a five-year term by a universal suffrage system. Uruguay is a unitary state: justice, education, health, security, foreign policy and defense are all administered nationwide.

What do they drink in Uruguay?

Yerba Mate is known as the national drink of Uruguay and is also popular in other South American countries. Yerba Mate is prepared from the leaves of an evergreen tree grown in Paraguay, Brazil, and Uruguay.

What are Uruguay’s main economic activities?

Uruguay’s economy remains dependent on agriculture and services. Agriculture and agri-industry account for 12% of GDP, and for about 70% of total exports. Leading economic sectors include commerce, agriculture and agri-industry (meat processing, wood pulp, rice, soybeans, and wheat), and construction.

What does Uruguay’s economy depend on?

Like most Latin American states, Uruguay’s economy depends largely on commodity exports. Agriculture is a particularly important sector, though Uruguay also serves as a regional banking and transshipment hub through its Atlantic port capital of Montevideo .

What are the major industries in Uruguay?

Major Industries of Uruguay. Uruguay’s major industries are agriculture, manufacturing, food processing and tourism.

What are the major products of Uruguay?

The major agricultural products produced in Uruguay are rice, wheat, soybeans, barley, livestock, beef, fish, and forestry. Other industries include food processing, electrical machinery, transportation equipment, petroleum products, textiles, chemicals and beverages.