During the colonial era, the present-day territory of Uruguay was known as Banda Oriental (east bank of River Uruguay) and was a buffer territory between the competing colonial pretensions of Portuguese Brazil and the Spanish Empire. The Portuguese first explored the region of present-day Uruguay in 1512–1513.
Why is Uruguay so rich?
Uruguay is the second richest country in South America, and that is largely because of its booming export business. … This booming export business has created a stable economy for the people of Uruguay and contributes to the $24K per capita.
Is Uruguay a 1st world country?
The term “First World” was first used during the Cold War. This term was originally used to describe countries aligned with NATO and were opponents of the Soviet Union.
First World Countries 2021.
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Why is Uruguay so small?
The population growth rate in Uruguay is below the worldwide average and is lower than many surrounding countries in Latin America. One reason for this is a low and stagnant birth rate of roughly 2 children born to the average woman. … All of these conditions have led to the low 2019 population growth rate 0f 0.36%.