An Overview of the Economy
Argentina has experienced considerable economic growth since
2003, and the growth is continuing. Poverty has now dropped from
48% to 26.9%. Inflation has dropped in recent years and the
country's GDP has grown. Agriculture contributes significantly to
the economy, accounting for 10% of the country's GDP, and almost
one third of the country's total exports. After its economic
crisis, Argentina borrowed money from the IMF, the vast majority of
which was repaid by 2005.
| Statistics |
|
| GDP (PPP) (IMF) (US$Billions) |
523.7 |
| GDP (PPP) (CIA) (US$Billions) |
523.7 |
| GDP Growth (IMF) (%) |
8.7% |
| GDP Growth (CIA (%) |
8.7% |
| GDP Per Capita (PPP) (IMF) (US$) |
13,307 |
| GDP Per Capita (PPP) (CIA) (US$) |
13,300 |
| GDP by Sector |
Agriculture: 9.5%
Services: 56.5%
Industry: 34% |
| Inflation (%) |
8.8% |
| Population Below the Poverty Line (%) |
23.4% |
| Labour Force (Millions) |
16.03 |
| Labour Force by Occupation (%) |
Agriculture: 1%
Services: 76%
Industry: 23% |
| Unemployment (%) |
14.1% |
| Main Industries |
Food processing, motor vehicles, consumer durables,
textiles,
chemicals and petrochemicals, printing, metallurgy, steel. |
Sources: CIA World Factbook, IMF
GDP
| economic indicators |
2003 |
2004 |
2005 |
2006 |
2007 |
| GDP (US$Billions) |
127.6 |
152.0 |
181.6 |
212.7 |
260.0 |
| GDP Growth (%) |
8.8% |
9.0% |
9.2% |
8.5% |
8.7% |
| GDP Per Capita (US$) |
3,371 |
3,975 |
4,704 |
5,458 |
6,606 |
| GDP Per Capita (PPP) (US$) |
8,803 |
9,758 |
19,871 |
12,046 |
13,307 |
| Inflation (%) |
13.4% |
4.4% |
9.6% |
10.9% |
8.8% |
| Unemployment (%) |
21.5% |
17.3% |
14.8% |
11.6% |
14.1% |
| Mobile Phone Users |
3,000,000 |
6,500,000 |
6,500,000 |
22,100,000 |
- |
| Internet Users |
3,800,000 |
4,100,000 |
4,100,000 |
10,000,000 |
- |
Sources: IMF, CIA World Factbook
Major Exports & Imports
Exports contribute significantly to the country's economic
growth. Because Argentina has a great deal of fertile land it is a
strong farming nation. Agriculture provides their main export
produce, which includes beef, wheat, sugar, barley, milk
and potatoes. Brazil and the US are Argentina's main trading
partners.
Major Exports 2007
Edible oils, fuels and energy, cereals and feed, motor
vehicles.
Major Imports 2007
Machinery and equipment, motor vehicles, chemicals, metal
manufactures.
| Export Partners 2007 |
% of total |
| Brazil |
17.5% |
| Chile |
9.5% |
| US |
8.9% |
| China |
7.5% |
| Import partners 2007 |
% of total |
| Brazil |
34.8% |
| US |
12.6% |
| China |
9.1% |
| Germany |
4.5% |
Sources: CIA World Factbook
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