Economy of Argentina

Economy of Argentina
	Puerto Madero business complex in Buenos Aires CBD
Currency	Argentine peso (ARS)
Fiscal year	Calendar year
Trade organizations	WTO, Mercosur, Prosur, G-20
Country group	Developing/Emerging; Upper-middle income economy;
Statistics
Population	46,044,703 (2022)
GDP	$683.533 billion (nominal; 2025f); $1.493 trillion (PPP; 2025f);
GDP rank	23rd (nominal; 2025); 28th (PPP; 2025);
GDP growth	-1.7% (2024f); 5.5% (2025f); 4.5% (2026f);
GDP per capita	$14,362 (nominal; 2025f); $31,380 (PPP; 2025f);
GDP per capita rank	66th (nominal, 2025); 68th (PPP, 2025);
GDP by sector	Agriculture, forestry, and fishing: 6.0%; mining: 3.6%; manufacturing: 17.2%; construction: 5.6%; commerce and tourism: 16.9%; transport, communications, and utilities: 7.9%; government: 9.5%; business, social and other services: 33.3%; (2015);
Inflation (CPI)	55.9% (Q1 2025) (INDEC);
Population below poverty line	38.9%; 10.6% on less than $6.85/day (2021);
Gini coefficient	40.7 high (2022)
Human Development Index	0.865 very high (2023) (47th); 0.761 high IHDI (45th) (2023);
Labor force	21,339,080 (2022); 55.1% employment rate (2021);
Labor force by occupation	Agricultural 7.3%; manufacturing 13.1%; construction 7.6%; commerce and tourism 21.4%; transport, communications and utilities 7.8%; financial, real estate and business service, 9.4%; public administration and defense 6.3%; social services and other 27.1% (2006);
Unemployment	7.7% (Q1 2024) (INDEC)
Average gross salary	US$261 monthly (AR$313,400) (June 2025)
Main industries	Food processing and beverages; motor vehicles and auto parts; appliances and electronics; machinery and equipment; chemicals; pharmaceuticals; glass; steel and aluminum; cement; textiles; tobacco products; publishing; furniture; leather;
External
Exports	$79.72 billion (2024)
Export goods	Soybeans and derivatives, petroleum and gas, vehicles, corn, wheat
Main export partners	Brazil 17.1%; European Union 10.3%; United States 8.1%; Chile 7.9%; (2024);
Imports	$60.82 billion (2024)
Import goods	Machinery, motor vehicles, petroleum and natural gas, organic chemicals, plastics
Main import partners	Brazil 23.6%; China 19.2%; European Union 14.8%; United States 10.2%; (2024);
FDI stock	$76.58 billion (31 December 2017 est.); Abroad: $40.94 billion (31 December 2017 est.);
Current account	−$31.32 billion (2017 est.)
Gross external debt	$214.9 billion (31 December 2017 est.); $163.2 billion; of which public, $92.5 billion (March 2016);
Public finances
Government debt	102% of GDP (2021); $271.5 billion (bonds, 68%); 44.8% of GDP (December 2021);
Foreign reserves	$26.10 billion (july 2023);
Budget balance	−15% (of GDP) (2023 est.)
Revenues	120.6 billion (2017 est.); $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%);
Expenses	inflation 2.4& December 2024 158.6 billion (2017 est.); $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%)}};
Credit rating	Standard & Poor's:; B- (Domestic); SD (Foreign); B- (T&C Assessment);
	All values, unless otherwise stated, are in US dollars.

The economy of Argentina is the second-largest national economy in South America, behind Brazil. Argentina has a human Development Index classified as "very high" by the United Nations, with a highly literate population, an export-oriented agricultural sector, and a diversified industrial base.

Argentina benefits from rich natural resources. However, its economic performance has historically been very uneven, with high economic growth alternating with severe recessions, particularly since the late twentieth century. Income maldistribution and poverty have increased since this period. Early in the twentieth century, Argentina had one of the ten highest per capita GDP levels globally. It was on par with Canada and Australia and had surpassed both France and Italy.

Argentina's currency declined by about 50% in 2018 from 18 to 20 Argentine pesos, to more than 38 Argentine pesos per U.S. Dollar. As of that year, it is under a stand-by program from the International Monetary Fund. In 2019, the currency fell further by 25%. In 2020, it fell by 90%, in 2021, 68%, and a further 52% in 2022 (until July 20).

Argentina is considered an emerging market by the FTSE Global Equity Index (2018), and one of the G-20 major economies. In 2021, MSCI re-classified Argentina as a standalone market due to prolonged severe capital controls.