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, sugarcane, wheat, milk, sunflower seeds, barley, beef, potatoes, chicken (2023).
More about the economy of Argentina
| Labor force | 22.286 million (2024 est.) |
|---|---|
| Industrial production growth rate | -7.2% (2024 est.) |
| Industries | food processing, motor vehicles, consumer durables, textiles, chemicals and petrochemicals, printing, metallurgy, steel |
| Population below poverty line | 41.7% (2023 est.) |
| Taxes and other revenues | 10% (of GDP) (2023 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Argentine pesos (ARS) per US dollar - |
| Exchange rates 2024 | 914.695 (2024 est.) |
| 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.) |
| Debt - external | |
| Debt - external 2023 | $74.362 billion (2023 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2024 | $29.56 billion (2024 est.) |
| Reserves of foreign exchange and gold 2023 | $23.081 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $44.795 billion (2022 est.) |
| Current account balance | |
| Current account balance 2024 | $6.285 billion (2024 est.) |
| Current account balance 2023 | -$20.956 billion (2023 est.) |
| Current account balance 2022 | -$4.055 billion (2022 est.) |
| Public debt | |
| Public debt 2016 | 55% of GDP (2016 est.) |
| Budget | |
| Revenues | $115.69 billion (2023 est.) |
| Expenditures | $139.037 billion (2023 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2024 | 0.2% of GDP (2024 est.) |
| Remittances 2023 | 0.2% of GDP (2023 est.) |
| Remittances 2022 | 0.2% of GDP (2022 est.) |
| Household income | |
| Lowest 10% | 1.9% (2023 est.) |
| Highest 10% | 31% (2023 est.) |
| Average household expenditures | |
| On food | 23.1% of household expenditures (2023 est.) |
| On alcohol and tobacco | 1.9% of household expenditures (2023 est.) |
| Imports | |
| Imports 2024 | $79.999 billion (2024 est.) |
| Imports 2023 | $92.3 billion (2023 est.) |
| Imports 2022 | $97.399 billion (2022 est.) |
| Imports (partners) | Brazil 23%, China 20%, USA 12%, Paraguay 5%, Germany 4% (2023) |
| Comodities Imports force | soybeans, vehicle parts/accessories, refined petroleum, natural gas, cars (2023) |
| Exports | |
| Imports 2024 | $79.999 billion (2024 est.) |
| Imports 2023 | $92.3 billion (2023 est.) |
| Imports 2022 | $97.399 billion (2022 est.) |
| Exports (partners) | Brazil 18%, USA 9%, Chile 8%, China 8%, India 4% (2023) |
| Comodities Exports force | soybean meal, corn, trucks, soybean oil, crude petroleum (2023) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2024 | $1.213 trillion (2024 est.) |
| Real GDP (purchasing power parity) 2023 | $1.234 trillion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $1.255 trillion (2022 est.) |
| GDP (official exchange rate) | $633.267 billion (2024 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2024 | $26,500 (2024 est.) |
| Real GDP per capita 2023 | $27,100 (2023 est.) |
| Real GDP per capita 2022 | $27,600 (2022 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 6% (2024 est.) |
| Industry | 24% (2024 est.) |
| Services | 53.4% (2024 est.) |
| GDP - composition, by end use | |
| Household consumption | 68.1% (2024 est.) |
| Government consumption | 15% (2024 est.) |
| Investment in fixed capital | 15.8% (2024 est.) |
| Investment in inventories | -0.1% (2024 est.) |
| Exports of goods and services | 15.3% (2024 est.) |
| Imports of goods and services | -12.8% (2024 est.) |
| Unemployment rate | |
| Unemployment rate 2024 | 7.9% (2024 est.) |
| Unemployment rate 2023 | 6.2% (2023 est.) |
| Unemployment rate 2022 | 6.9% (2022 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 21.2% (2024 est.) |
| Male | 19.8% (2024 est.) |
| Female | 23% (2024 est.) |
All Important Facts about Argentina
Want to know more about Argentina? Check all different factbooks for Argentina below.
