Uruguay is ranked first in Latin America in democracy, peace, lack of corruption, quality of living,[7] e-Government,[8] and equally first in South America when it comes to press freedom, size of the middle class, prosperity and security.[7] On a per capita basis, Uruguay contributes more troops to United Nations peacekeeping missions than any other country.[7] It ranks second in the region on economic freedom, income equality, per capita income and inflows of FDI.[7] Uruguay is the third best country on the continent in terms of HDI, GDP growth,[9] innovation and infrastructure.[7] It's regarded as a high income country (top group) by the UN, the only one in Latin America alongside Chile.[8] Uruguay is also the 3rd best ranked in the world in e-Participation.[8] Uruguay is an important global exporter of combed wool, rice, soybeans, frozen beef, malt and milk.[7]

The Economist named Uruguay "country of the year" in 2013[10] acknowledging the innovative policy of legalizing production, sale and consumption of cannabis. Same-sex marriage and abortion are also legal, leading Uruguay to be regarded as one of the most liberal nations in the world, and one of the most socially developed, outstanding regionally[11] and performing well globally on personal rights, tolerance and inclusion issues.[12]