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Uruguay industry has become increasingly competitive over the preceding decade. This is primarily due to the phased liberalization of the Uruguayan economy followed by successive governments. Uruguay is an active member of the MERCOSUR trading bloc.
An overwhelming majority of Uruguay industry is dependent upon agriculture for their productivity sustenance. A number of Uruguayan industries engaged in tire production, textiles, leather apparel, wine and shoes operate in the outskirts of the capital city Montevideo. These industries use raw materials sourced from the rural areas of Uruguay. The industries in Uruguay face stiff competition from companies operating in other MERCOSUR member countries. Other thriving industries in Uruguay include petroleum refining and cement manufacturing among others. The tourist industry is one of the more thriving service businesses in the South American country. The beautiful beaches on the country's coastline, act as a magnet for beach-lovers worldwide. This has provided a boost to the tourism industry in the country.
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