Uruguay’s GAP (purchasing power parity) is subpart at $56. 27 billion for 2013 and is up from $54. 37 billion for 2012, which from a person’s perspective may seem like a significant increase, from a country’s perspective the growth is mediocre. This growth in real GAP ranks Uruguay as 94th world-wide in GAP purchasing power parity. Uruguay’s economy is in an expansionary peak phase of the Business Cycle as evidenced by the fact that GAP (purchasing power parity) was $44. 029 billion in 2009 due to the world-wide economic crisis as a result of the United States’ Great
Recession. Therefore the 2013 Uruguay rigid of $56. 27 billion shows a strong rebound from a low 2009 $44. 029 billion amount. Also, Uruguay’s projected rigid by the end of 2014 is over $60 billion. Uruguay’s rigid grew 3. 5% in 2013 and that percentage established Uruguay’s growth rate as 98th in the world. Additionally, GAP Per Capital (a key determinant of Aggregate Demand) points to economic expansion Uruguay. For example, GAP per capita was $9,068 in 2008, fell to $9,065 2009, grew to $16,100 in 2012, and reached $16,600 in 2013.
Further, the current Uruguayan Unemployment Rate is 6. 5% as of 2013.
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