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 2019 | $278.524 billion (2019 est.) |
| Debt - external 2018 | $261.949 billion (2018 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 | $150.823 billion (2019 est.) |
| Expenditures | $170.725 billion (2019 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 | 23.2% of household expenditures (2021 est.) |
| On alcohol and tobacco | 1.9% of household expenditures (2021 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 | 10.8% (2017 est.) |
| Industry | 28.1% (2017 est.) |
| Services | 61.1% (2017 est.) |
| GDP - composition, by end use | |
| Household consumption | 65.9% (2017 est.) |
| Government consumption | 18.2% (2017 est.) |
| Investment in fixed capital | 14.8% (2017 est.) |
| Investment in inventories | 3.7% (2017 est.) |
| Exports of goods and services | 11.2% (2017 est.) |
| Imports of goods and services | -13.8% (2017 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
Want to know more about Argentina? Check all different factbooks for Argentina below.
