Uruguay

Uruguay, erstwhile nicknamed ‘Switzerland of America’ is located in the south east of South American sub-continent. It is flanked by countries Brazil and Argentina and by Uruguay River, estuary of Rio de le Plata and South Atlantic Ocean. Uruguay has been termed as second least corrupt country in South America. The colonization of the Uruguayan land was done by Europeans in 1516. However, Uruguay soon became a bone of contention for Portuguese and Spanish powers. As various European colonial powers tried to gain hold of Uruguay, the final independence was achieved in 1828.

Uruguay features a middle economy income which mostly comprises of export oriented agricultural sector and an emerging industrial sector. The economy of Uruguay depends on agricultural export items and other hardware industrial products. The agriculture account for 10% of the nation’s GDP and also is responsible for improving foreign exchange reserves. Although the fluctuations of trade stocks affected the economies of other countries, yet Uruguay managed to have a smooth and stable pace in the international economic arena. The religious preferences are mainly inclined towards Roman Catholic faith with a minority of Jewish and Protestant followers. The most striking feature of Uruguay has been its per capita GDP of international $11,969.

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