 Argentina benefits from rich natural resources, a highly literate population, an export-oriented
agricultural sector, and a diversified industrial base.
Key Industries: |
Food-processing, Motor Vehicles, Consumer Durables, Textiles, Chemicals/Petrochemicals, Printing, Metallurgy, Steel
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 |
Key Imports: |
Machinery, Motor Vehicles, Petroleum and Natural Gas, Organic Chemicals, Plastics
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Key Exports: |
Soybeans & Derivatives, Vehicles, Petroleum and Gas, Corn, Wheat |
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In 2006, the Countrys leading markets for exports were Brazil 17.5%, Chile 9.5%, U.S. 8.9%,
and China 7.5%. Its leading suppliers were Brazil 34.8%, U.S. 12.6%, China 9.1%, and Germany 4.5%.
Its key trade agreement is the Mercosur pact, which includes Brazil, Uruguay, Paraguay and Venezuela.
Transportation Manufacturing Agriculture Communications Retail
Information Technology Software Development Oil and Gas
In 2001, a severe depression, growing public and external indebtedness, and a bank run culminated in the most serious economic, social, and political
crisis in the country's turbulent history. The President declared a default -
the largest in history - on the government's foreign debt in December of that
year.
Real GDP growth rebounded by an average 9% annually over the subsequent five
years, taking advantage of previously idled industrial capacity and labor, debt restructuring and reduced debt burden, excellent international financial conditions, and expansionary monetary and fiscal policies.
Inflation, however, reached double-digit levels in 2006. The government responded with "voluntary" price agreements with businesses, as well as export
taxes and restraints. Multi-year price freezes on electricity and natural gas rates for residential users
stimulated consumption, and kept private investment
away, leading to restrictions on industrial use and blackouts in 2007.
The Argentina recovery still faces challenges ahead. A serious energy crisis results from a lack of natural gas, electricity, and diesel fuel.
Price freezes concern investors, as well as high inflation rates and alleged corruption. The Mercosur trade block is an
important partner, but exports still lag from levels of a decade ago. Growth rate could suffer as a result.
Additional Resources:
American Chamber of Commerce Argentina
Mercosur
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Capital: |
Buenos Aires |
Key Cities: |
Mendoza, Cordoba, Comodoro Ravidavia, Rio Gallegos, Mar de Plata
|
Population |
39.5 million (2007 E) |
GDP Growth % |
6.8 (08 E)
4.6 (09 F)
|
GDP |
262.3 billion US$ |
GDP per Capita |
6,639 US$ |
Inflation Rate Change (%) |
10.6 (08 E/09 F) |
Exports |
74.3 (09 F) billion
US$ |
Imports |
67.0 (09 F) billion
US$ |
Exchange Rate
Local Currency-US$ |
3.24 (09 F) |
E = Estimate F = Forecast |
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