Report by Uruguay

The period 2006-2010 was a period of high and sustained growth for the Uruguayan economy, which exceeded its potential growth rate - estimated at 4 per cent annually - during five of the six years. GDP grew at an average rate of 6.2 per cent, far surpassing the historical averages. As a result, per capita GDP doubled during the period, reaching 11,996 dollars in 2010. This trend was maintained throughout the period and was not reversed by the global crisis of 2009: although the GDP growth rate fell to 2.6 per cent, it recovered significantly in the following year. The Government expects the growth rate to exceed its potential rate once again in 2011. All along, the main driving force behind this growth was domestic demand.