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WEEKLY NEWSLETTER
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Uruguay
Index
Uruguay's industries, including construction, mining,
and
energy, generated 33 percent of GDP in 1988. These
industries
underwent most of their development behind high tariff
barriers
in the 1950s. As a consequence, the industrial sector was
geared
mostly to the domestic market. The small size of the
internal
market limited the growth of manufacturing and prevented
many
industries from achieving economies of scale. In addition,
the
substantial level of protection meant that Uruguayan
consumers
paid high prices for domestically produced goods, which
faced no
international competition. During the 1970s and 1980s,
Uruguay's
protectionist apparatus was partially dismantled, and
industry
began adjusting to the world market.
Data as of December 1990
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