ECONOMIC ENVIRONMENT

 Has a free market economy

 Export-oriented agricultural sector

 Well educated workforce

 High level of social spending

ECONOMIC ENVIRONMENT

 High income per capita

 Low level of inequality and poverty
 Total population is 3.2 million
 More than 60% of Uruguay’s population is represented by middle
class
 Positioned as the first places in the region
 Human Development Index
 Human Opportunity Index
 Economic Freedom Index
ECONOMIC ENVIRONMENT
 Traditional trading partners are Brazil and Argentina

 Main trading partners

 China – 26%

 European Union – 18%

 Two Main Characteristics For the successful poverty reduction and

shared prosperity

 Solid social contract

 Economic openness
BUSINESS ENVIRONMENT

 The treatment for national and foreign capital and incentives to the
investment promotion is the same

 No limits for foreign capital endowment

 Exchange of market is free, with no restrictions for the purchase or

sale of foreign exchange and investment may be made in any
currency

 No limitations to contract foreign workers

 Corporate tax rate is 25%

POLITICAL SYSTEM
Executive Power

A President and a cabinet of 12 ministers. The President is both

the Head of State and the Head of Government

Legislative Power
Parliament is bicameral. The General Assembly is made up of
the Senate Chamber and the House of Representatives. The
Senators Chamber is composed of 30 seats, the House of
Representatives is composed of 99 seats.

Judicial Power
Is exercise through the Supreme Court of Justice, courts and
judges on a nationwide basis.
CULTURE

SOCIAL BELIEFS AND CUSTOMS

 People of this country are known to be warm, welcoming, and

friendly

 Uruguayans tend to be more direct and upfront than individuals

from other South American countries

 When greeting close friends and sometimes new acquaintances,

a typical greeting involves a hug and kiss on the cheek.
CULTURE
 Religion
 Freedom to practice any religion is protected by the Constitution
of Uruguay
 Majority of the population identifies as Christian, nearly half of these
individuals are Catholics and an additional 11% identify as
Protestant
 Just over 40% of the population claims to have no religious
identity
 Cuisines
 Most foods are either broiled, grilled or fried including
vegetables and carbohydrates
 Beef plays a major role in the everyday diet of Uruguayans
Chosen product to market in Uruguay

TOCINO
References:
https://theodora.com/wfbcurrent/uruguay/uruguay_economy.html
https://www.uruguayxxi.gub.uy/guide/business-environment.html
https://www.focus-economics.com/countries/uruguay
https://www.worldatlas.com/articles/the-culture-of-uruguay.html
https://www.heritage.org/index/pdf/2019/countries/uruguay.pdf
https://www.nordeatrade.com/en/explore-new-market/uruguay/trade-
profile