Argentina - Economy
How is the economy of Argentina? Based on the information we have, Argentina has a large diversified economy; financial risks from debt obligations, rapid inflation, and reduced investor appetites; resource-rich, export-led growth model; increasing trade relations with China; G20 and OAS leader; tendency to nationalize businesses and under-report inflation. Key agricultural products in this country include: maize, soybeans, wheat, sugarcane, milk, barley, sunflower seeds, beef, sorghum, chicken (2022).
More about the economy of Argentina
Labor force 21.906 million (2023 est.)
Industrial production growth rate -0.35% (2023 est.)
Industries food processing, motor vehicles, consumer durables, textiles, chemicals and petrochemicals, printing, metallurgy, steel
Population below poverty line 39.2% (2022 est.)
Taxes and other revenues 11.15% (of GDP) (2022 est.)
Fiscal year
Exchange rates
Currency Argentine pesos (ARS) per US dollar -
Exchange rates 2023 296.258 (2023 est.)
Exchange rates 2022 130.617 (2022 est.)
Exchange rates 2021 94.991 (2021 est.)
Exchange rates 2020 70.539 (2020 est.)
Exchange rates 2019 48.148 (2019 est.)
Debt - external
Debt - external 2022 $77.88 billion (2022 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2023 $23.081 billion (2023 est.)
Reserves of foreign exchange and gold 2022 $44.795 billion (2022 est.)
Reserves of foreign exchange and gold 2021 $39.653 billion (2021 est.)
Current account balance
Current account balance 2023 -$21.494 billion (2023 est.)
Current account balance 2022 -$4.29 billion (2022 est.)
Current account balance 2021 $6.645 billion (2021 est.)
Public debt
Public debt 2017 57.6% of GDP (2017 est.)
Budget
Revenues $113.553 billion (2022 est.)
Expenditures $138.622 billion (2022 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2023 0.25% of GDP (2023 est.)
Remittances 2022 0.2% of GDP (2022 est.)
Remittances 2021 0.18% of GDP (2021 est.)
Household income
Lowest 10% 2% (2022 est.)
Highest 10% 29.8% (2022 est.)
Average household expenditures
On food 23.1% of household expenditures (2022 est.)
On alcohol and tobacco 1.9% of household expenditures (2022 est.)
Imports
Imports 2023 $92.574 billion (2023 est.)
Imports 2022 $97.558 billion (2022 est.)
Imports 2021 $72.392 billion (2021 est.)
Imports (partners) China 21%, Brazil 20%, US 14%, Germany 3%, Paraguay 2% (2022)
Comodities Imports force refined petroleum, vehicle parts/accessories, natural gas, fertilizers, cars (2022)
Exports
Imports 2023 $92.574 billion (2023 est.)
Imports 2022 $97.558 billion (2022 est.)
Imports 2021 $72.392 billion (2021 est.)
Exports (partners) Brazil 15%, China 9%, US 8%, Chile 6%, India 5% (2022)
Comodities Exports force soybean meal, corn, soybean oil, wheat, trucks (2022)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2023 $1.235 trillion (2023 est.)
Real GDP (purchasing power parity) 2022 $1.254 trillion (2022 est.)
Real GDP (purchasing power parity) 2021 $1.195 trillion (2021 est.)
GDP (official exchange rate) $640.591 billion (2023 est.)
Real GDP Per capita
Real GDP per capita 2023 $26,500 (2023 est.)
Real GDP per capita 2022 $27,100 (2022 est.)
Real GDP per capita 2021 $26,100 (2021 est.)
GDP - composition, by sector of origin
Agriculture 6.1% (2023 est.)
Industry 25.1% (2023 est.)
Services 52.8% (2023 est.)
GDP - composition, by end use
Household consumption 67.2% (2023 est.)
Government consumption 15.8% (2023 est.)
Investment in fixed capital 19.1% (2023 est.)
Investment in inventories 0.4% (2023 est.)
Exports of goods and services 12.9% (2023 est.)
Imports of goods and services -14.1% (2023 est.)
Unemployment rate
Unemployment rate 2023 6.18% (2023 est.)
Unemployment rate 2022 6.81% (2022 est.)
Unemployment rate 2021 8.74% (2021 est.)
Youth unemployment rate (ages 15-24)
Total 18% (2023 est.)
Male 16.9% (2023 est.)
Female 19.5% (2023 est.)
All Important Facts about Argentina

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Argentina is found in South America