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    Argentina Index 2006

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    Argentina Economy - 2006
    https://theodora.com/wfbcurrent/argentina/argentina_economy.html
    SOURCE: 2006 CIA WORLD FACTBOOK

      Economy - overview:
      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 problems of inflation, external debt, capital flight, and budget deficits. Growth in 2000 was a negative 0.8%, as both domestic and foreign investors remained skeptical of the government's ability to pay debts and maintain the peso's fixed exchange rate with the US dollar. The economic situation worsened 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 proved inadequate in the face of the mounting economic problems. The peso's peg to the dollar was abandoned in January 2002, and the peso was floated in February. The exchange rate plunged and real GDP fell by 10.9% in 2002, but by mid-year the economy had stabilized, albeit at a lower level. GDP expanded by about 9% per year from 2003 to 2005. Growth is being led by a revival in domestic demand, solid exports, and favorable external conditions. The government boosted spending ahead of the October 2005 midterm congressional elections, but strong revenue performance allowed Argentina to maintain a budget surplus. Inflation has been rising steadily and reached 12.3 percent in 2005.

      GDP (purchasing power parity):
      $542.8 billion (2005 est.)

      GDP (official exchange rate):
      $182 billion (2005 est.)

      GDP - real growth rate:
      8.7% (2005 est.)

      GDP - per capita (PPP):
      $13,700 (2005 est.)

      GDP - composition by sector:
      agriculture: 10.5%
      industry: 35.8%
      services: 53.7% (2004 est.)

      Labor force:
      15.34 million (2005 est.)

      Labor force - by occupation:
      agriculture: NA%
      industry: NA%
      services: NA%

      Unemployment rate:
      11.1% (September 2005)

      Population below poverty line:
      38.5% (June 2005)

      Household income or consumption by percentage share:
      lowest 10%: NA
      highest 10%: NA

      Distribution of family income - Gini index:
      52.2 (2001)

      Inflation rate (consumer prices):
      12.3% (2005 est.)

      Investment (gross fixed):
      19.4% of GDP (2005 est.)

      Budget:
      revenues: $42.63 billion
      expenditures: $39.98 billion; including capital expenditures of $NA (2005 est.)

      Public debt:
      69% of GDP (June 2005)

      Agriculture - products:
      sunflower seeds, lemons, soybeans, grapes, corn, tobacco, peanuts, tea, wheat; livestock

      Industries:
      food processing, motor vehicles, consumer durables, textiles, chemicals and petrochemicals, printing, metallurgy, steel

      Industrial production growth rate:
      7.7% (2005 est.)

      Electricity - production:
      87.16 billion kWh (2004)

      Electricity - consumption:
      82.97 billion kWh (2004)

      Electricity - exports:
      2.07 billion kWh (2004)

      Electricity - imports:
      1.561 billion kWh (2004)

      Oil - production:
      745,000 bbl/day (2005 est.)

      Oil - consumption:
      450,000 bbl/day (2001 est.)

      Oil - exports:
      NA bbl/day

      Oil - imports:
      NA bbl/day

      Oil - proved reserves:
      2.95 billion bbl (2005 est.)

      Natural gas - production:
      41.04 billion cu m (2003 est.)

      Natural gas - consumption:
      34.58 billion cu m (2003 est.)

      Natural gas - exports:
      6.05 billion cu m (2001 est.)

      Natural gas - imports:
      0 cu m (2001 est.)

      Natural gas - proved reserves:
      663.5 billion cu m (2005)

      Current account balance:
      $3.9 billion (2005 est.)

      Exports:
      $40 billion f.o.b. (2005 est.)

      Exports - commodities:
      edible oils, fuels and energy, cereals, feed, motor vehicles

      Exports - partners:
      Brazil 15.4%, Chile 10.4%, US 10.2%, China 8.7%, Spain 4.4% (2004)

      Imports:
      $28.8 billion f.o.b. (2005 est.)

      Imports - commodities:
      machinery and equipment, motor vehicles, chemicals, metal manufactures, plastics

      Imports - partners:
      Brazil 36.1%, US 16.6%, Germany 5.7%, China 4.3% (2004)

      Reserves of foreign exchange and gold:
      $28.07 billion (December 2005)

      Debt - external:
      $119 billion (June 2005 est.)

      Economic aid - recipient:
      $10 billion (2001 est.)

      Currency (code):
      Argentine peso (ARS)

      Exchange rates:
      Argentine pesos per US dollar - 2.9037 (2005), 2.9233 (2004), 2.9006 (2003), 3.0633 (2002), 0.9995 (2001)

      Fiscal year:
      calendar year


      NOTE: The information regarding Argentina on this page is re-published from the 2006 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Argentina Economy 2006 information contained here. All suggestions for corrections of any errors about Argentina Economy 2006 should be addressed to the CIA.

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    https://theodora.com/wfbcurrent/argentina/argentina_economy.html

    Revised 06-Jun-06
    Copyright © 2006 Photius Coutsoukis (all rights reserved)


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