Economy - overview:
Argentina benefits from rich natural resources, a highly literate population, an export-oriented agricultural sector, and a diversified industrial base. Although one of the world's wealthiest countries 100 years ago, Argentina suffered during most of the 20th century from recurring economic crises, persistent fiscal and current account deficits, high inflation, mounting external debt, and capital flight. A severe depression, growing public and external indebtedness, and a bank run culminated in 2001 in the most serious economic, social, and political crisis in the country's turbulent history. Interim President Adolfo RODRIGUEZ SAA declared a default - the largest in history - on the government's foreign debt in December of that year, and abruptly resigned only a few days after taking office. His successor, Eduardo DUHALDE, announced an end to the peso's decade-long 1-to-1 peg to the US dollar in early 2002. The economy bottomed out that year, with real GDP 18% smaller than in 1998 and almost 60% of Argentines under the poverty line. Real GDP rebounded to grow by an average 8.5% annually over the subsequent six years, taking advantage of previously idled industrial capacity and labor, an audacious debt restructuring and reduced debt burden, excellent international financial conditions, and expansionary monetary and fiscal policies. Inflation also increased, however, during the administration of President Nestor KIRCHNER, which responded with price restraints on businesses, as well as export taxes and restraints, and beginning in early 2007, with understating inflation data. Cristina FERNANDEZ DE KIRCHNER succeeded her husband as President in late 2007, and the rapid economic growth of previous years began to slow sharply the following year as government policies held back exports and the world economy fell into recession. The economy has rebounded strongly from the 2009 recession, but the government's continued reliance on expansionary fiscal and monetary policies risks exacerbating already high inflation.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Investment (gross fixed): Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
NOTE: 1) The information regarding Argentina on this page is re-published from the 2012 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Argentina Economy 2012 information contained here. All suggestions for corrections of any errors about Argentina Economy 2012 should be addressed to the CIA.
$709.7 billion (2011 est.)
country comparison to the world: 22
note: data are in 2011 US dollars
[see also: GDP country ranks ]
$435.2 billion (2011 est.)
[see also: GDP (official exchange rate) country ranks ]
8% (2011 est.)
country comparison to the world: 11
[see also: GDP - real growth rate country ranks ]
$17,400 (2011 est.)
country comparison to the world: 69
note: data are in 2011 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 10%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 30.7%
[see also: GDP - composition by sector - industry country ranks ]
services: 59.2% (2011 est.)
[see also: GDP - composition by sector - services country ranks ]
16.76 million
country comparison to the world: 36
note: urban areas only (2011 est.)
[see also: Labor force country ranks ]
agriculture: 5%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 23%
[see also: Labor force - by occupation - industry country ranks ]
services: 72% (2009 est.)
[see also: Labor force - by occupation - services country ranks ]
7.2% (2011 est.)
country comparison to the world: 79
[see also: Unemployment rate country ranks ]
30%
note: data are based on private estimates (2010)
[see also: Population below poverty line country ranks ]
lowest 10%: 1.7%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 29.5% (3rd Quarter, 2010)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
45.8 (2009)
country comparison to the world: 35
[see also: Distribution of family income - Gini index country ranks ]
22.9% of GDP (2011 est.)
country comparison to the world: 81
[see also: Investment (gross fixed) country ranks ]
revenues: $109.1 billion
[see also: Budget revenues country ranks ]
expenditures: $118 billion (2011 est.)
[see also: Budget expenditures country ranks ]
25.1% of GDP (2011 est.)
country comparison to the world: 123
[see also: Taxes and other revenues country ranks ]
-2% of GDP (2011 est.)
country comparison to the world: 75
[see also: Budget surplus (+) or deficit (-) country ranks ]
42.9% of GDP (2011 est.)
country comparison to the world: 70
note: official data; data cover [central/general] Government Debt, and [excludes/includes] debt instruments issued (or owned) by Government entities other than the treasury; the data [include/exclude] treasury debt held by foreign entities; the data [include/exclude] debt issued by subnational entities, as well as intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment. Debt instruments for the social funds [are/are not] sold at public auctions.
[see also: Public debt country ranks ]
22% (2010 est.)
country comparison to the world: 218
note: data are derived from private estimates
[see also: Inflation rate (consumer prices) country ranks ]
NA%
[see also: Central bank discount rate country ranks ]
11.8% (31 December 2011 est.)
country comparison to the world: 89
[see also: Commercial bank prime lending rate country ranks ]
$52.63 billion (31 December 2011 est.)
country comparison to the world: 46
[see also: Stock of narrow money country ranks ]
$132.3 billion (31 December 2011 est.)
country comparison to the world: 46
[see also: Stock of broad money country ranks ]
$136.4 billion (31 December 2011 est.)
country comparison to the world: 46
[see also: Stock of domestic credit country ranks ]
$63.91 billion (31 December 2010)
country comparison to the world: 53
[see also: Market value of publicly traded shares country ranks ]
sunflower seeds, lemons, soybeans, grapes, corn, tobacco, peanuts, tea, wheat; livestock
food processing, motor vehicles, consumer durables, textiles, chemicals and petrochemicals, printing, metallurgy, steel
7.5%
country comparison to the world: 31
note: based on private estimates (2011 est.)
[see also: Industrial production growth rate country ranks ]
115.4 billion kWh (2008 est.)
country comparison to the world: 30
[see also: Electricity - production country ranks ]
104.7 billion kWh (2008 est.)
country comparison to the world: 30
[see also: Electricity - consumption country ranks ]
3 billion kWh (2009 est.)
[see also: Electricity - exports country ranks ]
5.53 billion kWh (2009 est.)
[see also: Electricity - imports country ranks ]
763,600 bbl/day (2010 est.)
country comparison to the world: 27
[see also: Oil - production country ranks ]
618,000 bbl/day (2010 est.)
country comparison to the world: 29
[see also: Oil - consumption country ranks ]
238,100 bbl/day (2009 est.)
country comparison to the world: 51
[see also: Oil - exports country ranks ]
19,380 bbl/day (2009 est.)
country comparison to the world: 114
[see also: Oil - imports country ranks ]
40.1 billion cu m (2010 est.)
country comparison to the world: 24
[see also: Natural gas - production country ranks ]
43.46 billion cu m (2010 est.)
country comparison to the world: 20
[see also: Natural gas - consumption country ranks ]
880 million cu m (2009 est.)
country comparison to the world: 38
[see also: Natural gas - exports country ranks ]
3.78 billion cu m (2010 est.)
country comparison to the world: 38
[see also: Natural gas - imports country ranks ]
378.8 billion cu m (1 January 2011 est.)
country comparison to the world: 34
[see also: Natural gas - proved reserves country ranks ]
-$264.1 million (2011 est.)
country comparison to the world: 88
[see also: Current account balance country ranks ]
$83.71 billion (2011 est.)
country comparison to the world: 47
[see also: Exports country ranks ]
soybeans and derivatives, petroleum and gas, vehicles, corn, wheat
Brazil 21.2%, China 9.1%, Chile 7%, US 5.4% (2010)
$71.73 billion (2011 est.)
country comparison to the world: 44
[see also: Imports country ranks ]
machinery, motor vehicles, petroleum and natural gas, organic chemicals, plastics
Brazil 34.5%, US 13.8%, China 11.4%, Germany 5% (2010)
$53.35 billion (31 December 2011 est.)
country comparison to the world: 33
[see also: Reserves of foreign exchange and gold country ranks ]
$136 billion (31 December 2011 est.)
country comparison to the world: 36
[see also: Debt - external country ranks ]
$93.35 billion (31 December 2011 est.)
country comparison to the world: 38
[see also: Stock of direct foreign investment - at home country ranks ]
$31.49 billion (31 December 2011 est.)
country comparison to the world: 38
[see also: Stock of direct foreign investment - abroad country ranks ]
Argentine pesos (ARS) per US dollar -
2) The rank that you see is the CIA reported rank, which may habe the following issues:
a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order
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This page was last modified 07-Mar-12