Economy of Argentina information

Economy of Argentina
	Buenos Aires Puerto Madero 30 Buenos Aires Central Business District
Currency	Argentine peso (ARS)
Fiscal year	Calendar year
Trade organizations	WTO, Mercosur, Prosur, G-20
Country group	Developing/Emerging; Upper-middle income economy;
Statistics
Population	46,044,703 (2022)
GDP	$604 billion (nominal; 2024); $1.245 trillion (PPP; 2024);
GDP rank	24th (nominal; 2024); 31st (PPP; 2024);
GDP growth	5.2% (2022); 0.2% (2023); 2.0% (2024);
GDP per capita	$12,812 (nominal; 2024); $26,390 (PPP; 2024);
GDP per capita rank	70th (nominal, 2024); 69th (PPP, 2024);
GDP by sector	Agriculture, forestry, and fishing: 6.0%; mining: 3.6%; manufacturing: 17.2%; construction: 5.6%; commerce and tourism: 16.9%; transport, communications, and utilities: 7.9%; government: 9.5%; business, social and other services: 33.3%.; (2015);
Inflation (CPI)	254.2% (2024) (INDEC);
Population below poverty line	40.1% (2024) (INDEC); 10.6% on less than $6.85/day (2021);
Gini coefficient	42 medium (2021)
Human Development Index	0.849 very high (2022) (48th); 0.747 high IHDI (44th) (2022);
Labor force	21,339,080 (2022); 55.1% employment rate (2021);
Labor force by occupation	Agricultural 7.3%; manufacturing 13.1%; construction 7.6%; commerce and tourism 21.4%; transport, communications and utilities 7.8%; financial, real estate and business service, 9.4%; public administration and defense 6.3%; social services and other 27.1% (2006);
Unemployment	6.3% (2022); 9.8% (2019);
Average gross salary	US$178,47 monthly (AR$87,987) (June 2023)
Main industries	Food processing and beverages; motor vehicles and auto parts; appliances and electronics; machinery and equipment; chemicals; pharmaceuticals; glass; steel and aluminum; cement; textiles; tobacco products; publishing; furniture; leather;
External
Exports	$66.79 billion (2023)
Export goods	Soybeans and derivatives, petroleum and gas, vehicles, corn, wheat
Main export partners	Brazil 17.8%; United States 8.5%; China 7.9%; Chile 7.4%; (2023);
Imports	$73.71 billion (2023)
Import goods	Machinery, motor vehicles, petroleum and natural gas, organic chemicals, plastics
Main import partners	Brazil 23.5%; China 19.7%; United States 11.7%; Paraguay 5.3%; (2023);
FDI stock	$76.58 billion (31 December 2017 est.); Abroad: $40.94 billion (31 December 2017 est.);
Current account	−$31.32 billion (2017 est.)
Gross external debt	$214.9 billion (31 December 2017 est.); $163.2 billion; of which public, $92.5 billion (March 2016);
Public finances
Government debt	102% of GDP (2021); $271.5 billion (bonds, 68%); 44.8% of GDP (December 2021);
Budget balance	−15% (of GDP) (2023 est.)
Revenues	120.6 billion (2017 est.); $142.9 billion (2015) (social security, 25.9%; income and capital gains, 23.6%; value-added sales tax, 20.1%; trade and duties, 15.1%; financial tax, 6.3%; excise and other, 9.0%);
Expenses	158.6 billion (2017 est.); $167.3 billion (2015) (social security, 38.8%; subsidies and infrastructure, 22.5%; debt service, 9.2%; education, culture and research, 8.8%; social assistance, 5.4%; health, 3.4%; security, 3.1%; defense, 2.1%; other, 6.7%);
Credit rating	Standard & Poor's:; B- (Domestic); SD (Foreign); B- (T&C Assessment);
Foreign reserves	$26.10 bilion (july 2023);
	All values, unless otherwise stated, are in US dollars.

The economy of Argentina is the second-largest national economy in South America, behind Brazil. Argentina is a developing country with a highly literate population, an export-oriented agricultural sector, and a diversified industrial base.

Argentina benefits from rich natural resources. Argentina's economic performance has historically been very uneven, with high economic growth alternating with severe recessions, particularly since the late twentieth century. Income maldistribution and poverty have increased since this period. Early in the twentieth century, Argentina had one of the ten highest per capita GDP levels globally. It was on par with Canada and Australia, and had surpassed both France and Italy.

Argentina's currency declined by about 50% in 2018 to more than 38 Argentine pesos per U.S. Dollar. As of that year, it is under a stand-by program from the International Monetary Fund. In 2019, the currency fell further by 25%. In 2020, it fell by 90%, in 2021, 68%,^[24] and a further 52% in 2022 (until July 20).^[25]

Argentina is considered an emerging market by the FTSE Global Equity Index (2018), and one of the G-20 major economies. In 2021, MCSI re-classified Argentina as a standalone market due to prolonged severe capital controls.^[26]

^ "World Economic Outlook Database, April 2019". IMF.org. International Monetary Fund. Retrieved 29 September 2019.
^ "World Bank Country and Lending Groups". World Bank. Retrieved 29 September 2019.
^ "Nuevos datos provisorios del Censo 2022: Argentina tiene 46.044.703 habitantes". Infobae. 31 January 2023. Retrieved 1 February 2023.
^ ^a ^b ^c ^d ^e "Report for Selected Countries and Subjects: April 2024". imf.org. International Monetary Fund.
^ "Indec" (PDF) (in Spanish). Indec. Archived from the original (PDF) on 24 September 2016. Retrieved 23 September 2016.
^ "Índice de precios al consumidor" (PDF). Instituto Nacional de Estadística y Censos (in Spanish). Retrieved 1 March 2024.
^ "Incidencia de la pobreza y la indigencia en 31 aglomerados urbanos" (PDF). Indec. Retrieved 1 March 2024.
^ "Poverty headcount ratio at $6.85 a day (2017 PPP) (% of population) – Argentina". World Bank. Retrieved 4 June 2023.
^ "GINI index (World Bank estimate)". World Bank. Retrieved 4 June 2023.
^ ^a ^b "Human Development Report 2023/2024" (PDF). United Nations Development Programme. 13 March 2024. Archived (PDF) from the original on 13 March 2024. Retrieved 28 April 2024.
^ "Labor force, total – Argentina". World Bank. Retrieved 4 June 2023.
^ "Employment to population ratio, 15+, total (%) (national estimate) – Argentina". World Bank. Retrieved 4 June 2023.
^ "Empleo e Ingresos". MECON.
^ "Mercado de trabajo. Tasas e indicadores socioeconómicos (EPH) 2022" (PDF). INDEC (in Spanish).
^ "Report for Selected Countries and Subjects". IMF. Retrieved 7 April 2021.
^ "El Gobierno confirmó una suba del 26,6% del salario mínimo en tres tramos". 28 March 2023. Retrieved 4 June 2023.
^ ^a ^b ^c ^d "Argentine Foreign Trade Statistics" (PDF). Retrieved 15 June 2024.
^ ^a ^b ^c ^d ^e ^f ^g ^h "The World Factbook". CIA.gov. Central Intelligence Agency. Retrieved 16 February 2019.
^ ^a ^b "Economic and financial data for Argentina". MECON. Archived from the original on 8 March 2013. Retrieved 10 May 2016.
^ "Cuentas internacionales" (in Spanish). INDEC. 10 February 2021.
^ ^a ^b "Finanzas Públicas". Ministerio de Economía.
^ "Gasto Público por finalidad, función". INDEC. Archived from the original on 16 December 2014. Retrieved 23 January 2015.
^ "S&P raises Argentina local currency ratings 'B-/B' with a stable outlook". FTSE Global Markets. 4 February 2016. Archived from the original on 28 August 2016. Retrieved 1 July 2016.
^ Yosovitch, Julián (19 July 2022). "Vuelan las acciones en pesos a la par del dólar CCL". Cronista.com (in Spanish). Retrieved 7 August 2022.
^ "En lo que va de 2022 el peso argentino es la moneda que más se depreció en toda la región". Agrositio.com.ar (in Spanish). Archived from the original on 20 July 2022. Retrieved 7 August 2022.
^ Nasdaq (24 June 2021). "Argentina stands alone as MSCI yanks emerging market status". Retrieved 16 August 2023.

[1] "World Economic Outlook Database, April 2019". IMF.org. International Monetary Fund. Retrieved 29 September 2019.

[2] "World Bank Country and Lending Groups". World Bank. Retrieved 29 September 2019.

[3] "Nuevos datos provisorios del Censo 2022: Argentina tiene 46.044.703 habitantes". Infobae. 31 January 2023. Retrieved 1 February 2023.

[IMFWEOAR-4] "Report for Selected Countries and Subjects: April 2024". imf.org. International Monetary Fund.

[pbi16-5] "Indec" (PDF) (in Spanish). Indec. Archived from the original (PDF) on 24 September 2016. Retrieved 23 September 2016.

[6] "Índice de precios al consumidor" (PDF). Instituto Nacional de Estadística y Censos (in Spanish). Retrieved 1 March 2024.

[7] "Incidencia de la pobreza y la indigencia en 31 aglomerados urbanos" (PDF). Indec. Retrieved 1 March 2024.

[8] "Poverty headcount ratio at $6.85 a day (2017 PPP) (% of population) – Argentina". World Bank. Retrieved 4 June 2023.

[9] "GINI index (World Bank estimate)". World Bank. Retrieved 4 June 2023.

[arghdi-10] "Human Development Report 2023/2024" (PDF). United Nations Development Programme. 13 March 2024. Archived (PDF) from the original on 13 March 2024. Retrieved 28 April 2024.

[11] "Labor force, total – Argentina". World Bank. Retrieved 4 June 2023.

[12] "Employment to population ratio, 15+, total (%) (national estimate) – Argentina". World Bank. Retrieved 4 June 2023.

[empleo-13] "Empleo e Ingresos". MECON.

[indec.gob.ar-14] "Mercado de trabajo. Tasas e indicadores socioeconómicos (EPH) 2022" (PDF). INDEC (in Spanish).

[imf.org-15] "Report for Selected Countries and Subjects". IMF. Retrieved 7 April 2021.

[16] "El Gobierno confirmó una suba del 26,6% del salario mínimo en tres tramos". 28 March 2023. Retrieved 4 June 2023.

[Argentine_Foreign_Trade_Statistics-17] "Argentine Foreign Trade Statistics" (PDF). Retrieved 15 June 2024.

[CIAWFAR-18] ^ ^a ^b ^c ^d ^e ^f ^g ^h "The World Factbook". CIA.gov. Central Intelligence Agency. Retrieved 16 February 2019.

[dsbb-19] "Economic and financial data for Argentina". MECON. Archived from the original on 8 March 2013. Retrieved 10 May 2016.

[20] "Cuentas internacionales" (in Spanish). INDEC. 10 February 2021.

[pub-21] "Finanzas Públicas". Ministerio de Economía.

[22] "Gasto Público por finalidad, función". INDEC. Archived from the original on 16 December 2014. Retrieved 23 January 2015.

[23] "S&P raises Argentina local currency ratings 'B-/B' with a stable outlook". FTSE Global Markets. 4 February 2016. Archived from the original on 28 August 2016. Retrieved 1 July 2016.

[24] Yosovitch, Julián (19 July 2022). "Vuelan las acciones en pesos a la par del dólar CCL". Cronista.com (in Spanish). Retrieved 7 August 2022.

[25] "En lo que va de 2022 el peso argentino es la moneda que más se depreció en toda la región". Agrositio.com.ar (in Spanish). Archived from the original on 20 July 2022. Retrieved 7 August 2022.

[26] Nasdaq (24 June 2021). "Argentina stands alone as MSCI yanks emerging market status". Retrieved 16 August 2023.

Economy of Argentina information

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Statistics
Buenos Aires Puerto Madero 30 Buenos Aires Central Business District
Currency	Argentine peso (ARS)
Fiscal year	Calendar year
Trade organizations	WTO, Mercosur, Prosur, G-20
Country group	Developing/Emerging^[1] Upper-middle income economy^[2]
Population	46,044,703 (2022)^[3]
GDP	$604 billion (nominal; 2024)^[4] $1.245 trillion (PPP; 2024)^[4]
GDP rank	24th (nominal; 2024) 31st (PPP; 2024)
GDP growth	5.2% (2022) 0.2% (2023) 2.0% (2024)^[4]
GDP per capita	$12,812 (nominal; 2024)^[4] $26,390 (PPP; 2024)^[4]
GDP per capita rank	70th (nominal, 2024) 69th (PPP, 2024)
GDP by sector	Agriculture, forestry, and fishing: 6.0% mining: 3.6% manufacturing: 17.2% construction: 5.6% commerce and tourism: 16.9% transport, communications, and utilities: 7.9% government: 9.5% business, social and other services: 33.3%. (2015)^[5]
Inflation (CPI)	254.2% (2024) (INDEC)^[6]
Population below poverty line	40.1% (2024) (INDEC)^[7] 10.6% on less than $6.85/day (2021)^[8]
Gini coefficient	42 medium (2021)^[9]
Human Development Index	0.849 very high (2022)^[10] (48th) 0.747 high IHDI (44th) (2022)^[10]
Labor force	21,339,080 (2022)^[11] 55.1% employment rate (2021)^[12]
Labor force by occupation	Agricultural 7.3% manufacturing 13.1% construction 7.6% commerce and tourism 21.4% transport, communications and utilities 7.8% financial, real estate and business service, 9.4% public administration and defense 6.3% social services and other 27.1% (2006) ^[13]
Unemployment	6.3% (2022)^[14] 9.8% (2019)^[15]
Average gross salary	US$178,47 monthly (AR$87,987) (June 2023)^[16]
Main industries	Food processing and beverages motor vehicles and auto parts appliances and electronics machinery and equipment chemicals pharmaceuticals glass steel and aluminum cement textiles tobacco products publishing furniture leather
External
Exports	$66.79 billion (2023)^[17]
Export goods	Soybeans and derivatives, petroleum and gas, vehicles, corn, wheat
Main export partners	Brazil 17.8% United States 8.5% China 7.9% Chile 7.4% (2023)^[17]
Imports	$73.71 billion (2023)^[17]
Import goods	Machinery, motor vehicles, petroleum and natural gas, organic chemicals, plastics
Main import partners	Brazil 23.5% China 19.7% United States 11.7% Paraguay 5.3% (2023)^[17]
FDI stock	$76.58 billion (31 December 2017 est.)^[18] Abroad: $40.94 billion (31 December 2017 est.)^[18]
Current account	−$31.32 billion (2017 est.)^[18]
Gross external debt	$214.9 billion (31 December 2017 est.)^[18] $163.2 billion; of which public, $92.5 billion (March 2016)^[19]
Public finances
Government debt	102% of GDP (2021)^[20] $271.5 billion (bonds, 68%); 44.8% of GDP (December 2021)^[19]
Budget balance	−15% (of GDP) (2023 est.)^[18]
Revenues	120.6 billion (2017 est.)^[18] $142.9 billion (2015) (social security, 25.9%; income and capital gains, 23.6%; value-added sales tax, 20.1%; trade and duties, 15.1%; financial tax, 6.3%; excise and other, 9.0%)^[21]
Expenses	158.6 billion (2017 est.)^[18] $167.3 billion (2015) (social security, 38.8%; subsidies and infrastructure, 22.5%; debt service, 9.2%; education, culture and research, 8.8%; social assistance, 5.4%; health, 3.4%; security, 3.1%; defense, 2.1%; other, 6.7%)^[21]^[22]
Credit rating	Standard & Poor's:^[23] B- (Domestic) SD (Foreign) B- (T&C Assessment)
Foreign reserves	$26.10 bilion (july 2023)^[18]
All values, unless otherwise stated, are in US dollars.