Uruguay's economy grows 1.6 pct in 2018

MONTEVIDEO, March 28 (Xinhua) -- The Uruguayan economy grew 1.6 percent in 2018, driven by The growth of telecommunications, The Central Bank of Uruguay reported Thursday.

The figure, however, represented a slowdown compared to The 2.6 percent economic growth registered in 2017, and was below The government's projection of a growth of The gross domestic product (GDP) between 2.0 and 2.5 percent.

Foreign trade registered a decline in both exports and imports, down by 4.8 percent and 2 percent, respectively.

"In The fourth quarter of The year, GDP presented a year-on-year growth rate of 0.6 percent, equivalent to a fall in seasonally adjusted terms of 0.1 percent compared to The previous quarter," The report said.

The economic growth in 2018 has brought The country's growth streak to 16 years, The longest expansion in its history.