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[112], Argentine banking, whose deposits exceeded US$120 billion in December 2012,[113] developed around public sector banks, but is now dominated by the private sector. [112], Argentines, who have long been active travelers within their own country,[119] accounted for over 80%, and international tourism has also seen healthy growth (nearly doubling since 2001). Argentina is considered an emerging market by the FTSE Global Equity Index (2018),[32] and is one of the G-20 major economies. In response to the Great Depression, successive governments from the 1930s to the ’70s pursued a strategy of import substitution designed to transform Argentina into a country self-sufficient in industry as well as agriculture. A lively and informative new podcast for kids that the whole family will enjoy! Lula may face imprisonment again, and reactions to a possible new arrest could start a new wave of hostile statements and even actions. [195], In the mid-1970s, the most affluent 10% of Argentina's population had an income 12 times that of the poorest 10%.

Motor vehicles and auto parts are the leading industrial export, and over 12% of the total merchandise exports. The lifting of the restriction a year later was bittersweet, being greeted calmly, if with some umbrage, at not having these funds freed at their full U.S. dollar value. [160] The global crisis cut this figure to US$4 billion in 2009; but inflows recovered to US$6.2 billion in 2010. Not to be confused with the Central Bank, this institution now accounts for 30% of total deposits and a fifth of its loan portfolio. Forestry has long history in every Argentine region, apart from the pampas, accounting for almost 14 million m³ of roundwood harvests.

The strategy worked, and Fernandez won in the second round, with 47,8% of the vote. [131], The railway network has a total length of 37,856 kilometres (23,523 mi), though at the network's peak this figure was 47,000 km (29,204 mi). Brazilians make up Argentina’s most significant group of international tourists, and vice versa.

[134], In April 2015, by overwhelming majority the Argentine Senate passed a law which re-created Ferrocarriles Argentinos as Nuevos Ferrocarriles Argentinos, effectively re-nationalising the country's railways. [88], Argentine fisheries bring in about a million tons of catch annually,[46] and are centered on Argentine hake, which makes up 50% of the catch; pollock, squid, and centolla crab are also widely harvested. [117], Credit in Argentina is still relatively tight. [187] Inflation remained at around 18.6% in 2015 according to an International Monetary Fund estimate;[188] but following a sharp devaluation enacted by the Mauricio Macri administration on 17 December, inflation reignited during the first half of 2016 – reaching 42% according to the Finance Ministry. Consumer goods including motor vehicles make up most of the rest. Fair Observer does not use personal data collected from its website for advertising purposes or to market to you.

Although it returned to normal levels quickly, inflation, and more recently, global instability, have been affecting it again. [90], Despite the country's large untapped wind and solar potential new renewable energy technologies and distributed energy generation are barely exploited. Coal is mined in Santa Cruz Province. South Georgia and the South Sandwich Islands, Argentina is the world's fifth-largest wine producer, Ministro Pistarini International Airports, Overseas Private Investment Corporation (OPIC), per capita income on a purchasing power basis, inequality-adjusted human development index, List of Latin American and Caribbean countries by GDP growth, List of Latin American and Caribbean countries by GDP (nominal), List of Latin American and Caribbean countries by GDP (PPP), "World Economic Outlook Database, April 2019", "World Economic Outlook Database, October 2019", "Un informe de la UCA marca que la pobreza en Argentina trepó al 33%", "Poverty headcount ratio at national poverty lines (% of population) – Argentina", "Poverty headcount ratio at $5.50 a day (2011 PPP) (% of population) – Argentina", "Employment to population ratio, 15+, total (%) (national estimate) – Argentina", https://www.indec.gob.ar/uploads/informesdeprensa/mercado_trabajo_eph_4trim19EDC756AEAE.pdf, "Tablero de la Economía Real – Ministerio de Producción", https://www.indec.gob.ar/uploads/informesdeprensa/i_argent_02_207C5EA3BCD1.pdf, "Economic and financial data for Argentina", "La deuda argentina ya se acerca al 97,7% del PBI del país y es la más alta de la región", "S&P raises Argentina local currency ratings 'B-/B' with a stable outlook", "Argentina's Economy Expanded 2.3% in Second Quarter", "The Four Weapons Argentina Has to Avoid a New Storm in 2019", "Argentine Peso Claws Back after Three Days of Grim Losses", "FTSE Country Classification – March 2018 Interim Update", "El derrumbe de salarios y la plata dulce", "A Social Contract Abrogated: Argentina's Economic Crisis", "La crisis del estado benefactor y la imposición neoliberal en la Argentina de Alfonsín y Menem", "La política social argentina ante los desafíos de un Estado inclusivo (2003–2013)", "Reestatizaciones: un camino que empezó Kirchner en 2003", "Senate passes railway nationalisation into law", "El poder adquisitivo creció 72% desde 2003", "Argentina says inflation accelerated as economy cooled", "El PBI subió 8,5% en 2010 y asegura pago récord de u$s 2.200 millones a inversores", "Argentina to repay 2001 debt as Greece struggles to avoid default", "Vulture funds: Why the UK voted 'no' to action at the UN – dissected", "Argentina's debt battle: why the vulture funds are circling", "The real story behind the Argentine vessel in Ghana and how hedge funds tried to seize the presidential plane", "Argentina's 'vulture fund' crisis threatens profound consequences for international financial system", United Nations Conference on Trade and Development, "Billionaire Hedge Funds Snub 90% Returns", "How Argentina settled a billion-dollar debt dispute with hedge funds", "Debt service on external debt, total (TDS, current US$)", "Argentina's Defaulted Sovereign Debt: Dealing with the "Holdouts, "Gov't defies 'vultures' with dollar bond issue", "Buenos Aires Province exchanges bonds, eases refinancing pressure", "Is Argentina's economy pulling a tango turnaround? Meat and grain were exported to expanding markets in Europe in exchange for fuel and manufactured products. Argentina workforce is 18 million while Brazil has 111 million. Fruits, vegetables, oilseed crops such as soybeans and sunflowers, and industrial crops such as sugarcane and cotton increased their share of total agricultural production at the expense of the dominant grain crops. Argentines feared that investors who had lost money in Mexico would also lose confidence in the Argentine financial system. [35] One important measure of development, GDP per capita, rose from 35% of the United States average to about 80% during that period. Trade in manufactures has historically been in deficit for Argentina, however, and despite the nation's overall trade surplus, its manufacturing trade deficit exceeded US$30 billion in 2011. Its gross national product (GNP), GNP per capita, and value added from manufacturing are also among the highest in the region. [118] Tourism from abroad contributed US$5.3 billion, having become the third largest source of foreign exchange in 2004. ", "The Travel & Tourism Competitiveness Report 2013", "Sin corralito, bajó el dólar y los depósitos subieron $50 millones", "Estafa del Grupo Velox: 800 millones de dólares que no aparecieron más", "The Travel & Tourism Competitiveness Report 2017", "Gran número de turistas eligieron la ciudad de Mar del Plata", "Potencial de energía eólica en Argentina", "Argentina Heads for Solar Surge With Incentives", "Rutas: pavimentan 4.200 km y triplican red de autopistas", "Advierten que faltan rutas para sostener el boom de los autos", ¿HACIA DÓNDE VA EL TREN? A growing export, total viticulture potential is far from having been met. [40], The economy, however, declined during the military dictatorship from 1976 to 1983, and for some time afterwards. Brazil is Argentina’s largest trade partner.

High labour costs for Argentina assembly work tend to limit product sales penetration to Latin America, where regional trade treaties exist. Despite the country receiving one of the largest IMF financial support programmes ever given to any nation, Argentina's poverty rose to 32% from 26% the previous year. [46], External economic shocks, as well as a dependency on volatile short-term capital and debt to maintain the overvalued fixed exchange rate, diluted benefits, causing erratic economic growth from 1995 and the eventual collapse in 2001.

[46] The northwest and San Juan Province are the main regions of activity. [201], New methodology; not strictly comparable to earlier data. The telecommunications sector has been growing at a fast pace, and the economy benefits from widespread access to communications services. Cotton and tobacco are major crops in the Gran Chaco, sugarcane and chile peppers in the northwest, and olives and garlic in the west. The central bank pumped at least 1 billion pesos into the economy in this way during 2011. Brazil.

transport, communications and utilities 7.8%, financial, real estate and business service, 9.4%, $163.2 billion; of which public, $92.5 billion (March 2016), $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%), $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%), Tariffs applied by Argentina as provided by ITC's, Officially the Republic of China, participates as ", This page was last edited on 1 October 2020, at 18:56.

Under the 1994 U.S.–Argentina Bilateral Investment Treaty, U.S. investors enjoy national treatment in all sectors except shipbuilding, fishing, nuclear-power generation, and uranium production. The type of digital cookie information collected during your visit and any derived data cannot be used or combined with other information to personally identify you. [85] Argentina is the world's fifth-largest wine producer, and fine wine production has taken major leaps in quality. The prime rate was over 20% for much of 2009, and around 17% since the first half of 2010.

The election marked the victory of former army captain and right-wing congressman, Jair Bolsonaro. [114] The largest bank in Argentina by far, however, has long been the public Banco de la Nación Argentina. A possible exit of the world’s 9th largest economy would be devastating for the Southern Common Market.

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