Argentina Economy
Argentina Economy:
Argentina benefits from rich natural resources, a highly literate population, an export-oriented agricultural sector, and a diversified industrial base. Over the past decade, however, the country has suffered recurring economic problems of inflation, external debt, capital flight, and budget deficits.
The economic situation began to worsen in 2001 with the widening of spreads on Argentine bonds, massive withdrawals from the banks, and a further decline in consumer and investor confidence. Government efforts to achieve a "zero deficit," to stabilize the banking system, and to restore economic growth have proved inadequate in the face of the mounting economic problems.
| GDP | $596,000,000,000 (USD) |
| GDP Per Capita | $14,700 (USD) |
| GDP By Sector | agriculture: 5% industry: 28% services: 67% |
| Population Below Poverty Line | 30% |
| Inflation Rate | 22.00% |
| Labor Force | 16,620,000 |
| Labor Force By Occupation | agriculture NA%; industry NA%; services NA% |
| Unemployment Rate | 7.90% |
| Fiscal Year | calendar year |
| Annual Budget | $87,630,000,000 (USD) |
| Industries | food processing, motor vehicles, consumer durables, textiles, chemicals and petrochemicals, printing, metallurgy, steel |
| Industrial Growth Rate | 8% |
| Agriculture Products | sunflower seeds, lemons, soybeans, grapes, corn, tobacco, peanuts, tea, wheat; livestock |
| Currency Code | ARS |