Uruguay's Industrial Output Down 2.8 Percent
TEHRAN (ANA)- Uruguay's manufacturing industry saw a production decrease of 2.8 percent from January to April compared to the same period of 2023, due to a pause in oil refining, the National Statistics Institute (INE) said.
The sector with the largest negative impact on the production index, known as the Manufacturing Industry's Physical Volume Index (IVFIM), was oil refining, which plunged 96 percent, lowering the index by 6.5 percentage points.
The decrease in oil refining was caused by a technical stoppage for maintenance at the state oil company ANCAP's refinery, which began last year.
Uruguay's economy grew a scant 0.4 percent in 2023, impacted by severe drought and the end of major infrastructure building associated with a pulp plant.
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