Includes Argentina real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Argentina economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Argentina best banks and safest banks are also available.
Basic Information
Government Type: Presidential republic
Capital City: Buenos Aires
GDP & Economic Information
Macroeconomy & Sovereign Data
Central Bank |
Central Bank of Argentina |
---|---|
Currency |
Argentine pesos (ARS) |
International Reserves |
USD 39.40 billion (2020) World Bank, last updated 12/16/2021 |
Gross Domestic Product – GDP |
USD 455.17 billion (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP (Purchasing Power Parity) |
USD 1,049.40 billion (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP Data
Real GDP growth |
2017 2.8% 2018 -2.6% 2019 -2.1% 2020* -9.9% 2021* 7.5% *Estimate |
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GDP per capita – current prices |
USD 9,929.15 (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP per capita – PPP |
USD 22,891.70 (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP (PPP) – share of world total |
0.73% (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP – composition by sector |
agriculture: 6.8% industry: 22.5% services: 54.3% |
Gross domestic expenditure on R&D; (% of GDP) | N/A |
Inflation |
2017 25.7% 2018 34.3% 2019 53.5% 2020* 42% 2021* N/A% *Estimate |
Argentina
Inflation & Debt
Inflation |
2017 25.7% 2018 34.3% 2019 53.5% 2020* 42% 2021* N/A% *Estimate |
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Government Bond Ratings |
Standard & Poor’s: CCC+ Moody’s rating: Ca Standard & Poor’s / Moody’s |
Unemployment rate |
2017 8.4% 2018 9.2% 2019 9.8% 2020* 11.6% 2021* 10.0% *Estimate |
Household saving rates | N/A |
Public debt (General government gross debt as a % of GDP) |
2017 57% 2018 85.2% 2019 88.7% 2020* 102.8% 2021* N/A *Estimate |
Public deficit (General government net lending/borrowing as a % of GDP) |
2017 -4.2% 2019 -2.2% 2019 -0.4% 2020* -6.2% 2021* N/A *Estimate |
Market value of publicly traded shares |
USD 39.4 billion (2019) World Bank / Market capitalizationv |
Largest Companies |
MercadoLibre, YPF Forbes Global 2000 (2021) |
Import/Export
Exports as percent of GDP (Exports of goods and services) |
5.9% (2017) |
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Shares in world total merchandising export |
0.004% (2018) |
Shares in world total commercial services export |
0.008% (2018) |
Total exports |
USD 1.6 billion (2018 estimate) |
Export commodities |
Opium, fruits and nuts, handwoven carpets, wool, cotton, hides and pelts, precious and semi-precious gems, and medical herbs |
Total imports |
USD 8.3 billion (2018 estimate) |
Import commodities |
Machinery and other capital goods, food, textiles, petroleum products |
Exports – major partners |
India 56.5%, Pakistan 29.6% (2017) |
Imports – major partners |
China 21%, Iran 20.5%, Pakistan 11.8%, Kazakhstan 11%, Uzbekistan 6.8%, Malaysia 5.3%(2017) |
Competitiveness & Trade
Current account balance |
USD 4.5 billion (2021 estimate) IMF – World Economic Outlook, October 2021 |
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Current account balance by percentage of GDP |
0.99% (2021 estimate) IMF – World Economic Outlook, October 2021 |
FDI inflows |
2016 USD 11.9 billion 2019 USD 1.5 billion 2020 USD 1.2 billion |
FDI Outflows |
2018 USD 1.8 billion 2019 USD 1.5 billion 2020 USD 1.2 billion |
Value of cross-border M&A, by country of purchaser |
2017 USD 540 million 2018 USD -270 million 2019 USD 419 million 2020 USD 109 million United Nations Conference on Trade and Development (UNCTAD) – World Investment Report |
Cross-border M&A deals worth over $3 billion completed in 2014 | N/A |
Cross-border M&A deals worth over $3 billion completed in 2015 | N/A |
Best countries for doing business |
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Overall ranking: 126 out of 190 countries Subcategories: Starting a Business: 141 out of 190 countries Dealing with Construction Permits: 155 out of 190 countries Getting Electricity: 111 out of 190 countries Registering Property: 123 out of 190 countries Getting Credit: 104 out of 190 countries Protecting Minority Investors: 61 out of 190 countries Paying Taxes: 170 out of 190 countries Trading across Borders: 119 out of 190 countries Enforcing Contracts: 97 out of 190 countries Resolving Insolvency: 111 out of 190 countries World Bank – Doing Business 2020 |
Global competitiveness ranking | 83 out of 141 (2019) |
Index of Economic Freedom |
Ranking: 144 / Score: 50.1 (Mostly Unfree) (100=totally free 0=totally repressed) The Heritage Foundation – 2022 Index of Economic Freedom |
Population & Geographic Data
Total Area |
2,780,400 sq km |
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Total Population |
1990 32.53 Million 2000 36.78 Million 2010 40.79 Million 2015 43.13 Million 2020 45.55 Million |
Urban population as % of total population |
1960 73.6% 1980 82.9% 2000 89.1% 2020 91.9% |
Population median age |
31.9 years ( CIA World Factbook / Population median age |
Population growth rate | 0.89% (2018 estimate) |
Life expectancy |
77.5 years (2018 estimate) CIA World Factbook / Life expectancy |
% of population living on less than $3.10 a day |
2.4% (last available estimate, 2017) |
Inequality of wealth distribution (Gini index) |
41.2 (last available estimate, 2017) (0=perfect equality, 100=absolute inequality) |
Freedom House rating |
Free Political Rights: 2 Civil Liberties: 2 (2019) (1 represents the most free, 7 the least free rating) |
Total telephone subscribers as % of population |
Fixed: 21.9% Mobile: 132.1% (2018) (fixed-telephone subscribers and mobile-cellular subscribers) |
Internet users as % of total population |
74.29 % (2017) |
Language & Religon
Languages |
Spanish (official), Italian, English, German, French, indigenous (Mapudungun, Quechua) |
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Literacy |
Total population: 99.1% Male: 99.1% Female: 99.1% Definition: age 15 and over can read and write (2016 est.) |
Religions | Nominally Roman Catholic 92% (less than 20% practicing), Protestant 2%, Jewish 2%, other 4% |
World Rankings
Population | 2.8 M |
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Mercer Cost of living index | N/A |
C02 Emissions per capita |
1.9 metric tons per capita (2018) |
Global Finance Rankings & Awards: Argentina
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
Data Sources:
IMF World Economic Outlook
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000