Uruguay

Uruguay enjoys a reputation for social progressiveness, and is ranked first in South America for open-government, press freedom and prosperity. The country has one of the highest levels of GDP per capita in South America. Of the 3.4 million people who live in Uruguay, over half people live in the greater Montevideo area.

The Uruguayan economy is partially dollarised. Most banks use dollars (around 60% of all bank loans are made in the currency), however, most consumer payments are still made in Uruguayan pesos

Uruguay is famous for its pampas – the fertile grasslands that cover most of the country. Historically, Uruguay’s economy was built on exports of beef and wool. Today, 90% of agricultural land is still used for grazing. Agriculture remains the largest export sector and both meat and wool remain important products. In addition, the country is an important exporter of rice, beans, malt and milk.

Services – chiefly finance and tourism – account for around 69% of GDP. Industry accounts for around 24%. The plastics sector has grown in recent years, and plastic exports have become an important source of income.

With 40 years in the market, HLB serve clients in the industrial, commercial and service sectors both in Uruguay and abroad. The firm provides advice in the areas of accounting, auditing, taxation, human resources and development of new projects, to the most diverse local and international organisations.