Current Account Balance: Uruguay

Analysis# Uruguay Current Account Balance Uruguay's current account balance stands at -1.5% of GDP in 2026, reflecting a modest deficit after years of volatility. The country peaked at 1.3% of GDP in 2019 but deteriorated significantly to -3.8% in 2022, the lowest point in the dataset. Since 2012, the metric has shifted 58.3%, moving from near-balance toward persistent deficits that characterize the recent period. The sharpest decline occurred between 2019 and 2022, when the balance plummeted 5.1 percentage points. Recovery began in 2023 (-3.4%) and accelerated through 2024 (-1%), suggesting structural improvements in trade dynamics or capital flows. The projected stabilization around -1.5% through 2026 indicates Uruguay may be settling into a sustainable deficit range, though sustained monitoring will determine whether further convergence toward positive territory occurs.