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Economy of Argentina

Argentina is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developing nation, Argentina may not be able to offer consistent social services to its citizens. These social services may include things like public education, reliable healthcare, and law enforcement. Citizens of developing nations may have lower life expectancies than citizens of developed nations. Each year, Argentina exports around $85.08 billion and imports roughly $71.3 billion. 8.5% of population in the country are unemployed. The total number of unemployed people in Argentina is 3,798,553. In Argentina, 32% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Argentina is fairly high, but is not reason for complete concern with regard to investments. Potential financial backers should look at other economic markers, including GDP, urbanization rate, and strength of currency, before making any decisions regarding investments. Government expenditure on education is 6.5% of GDP. The Gini Index of the country is 43.6. Argentina is experiencing poor equality. The gap between the richest and poorest citizens in this country is quite noticeable. Argentina has a Human Development Index (HDI) of 0.808. Argentina has a high HDI score. This indicates that the majority of citizens will be able to attain a desirable life while providing substantial aid and assistance to citizens with lower living standards. The Global Peace Index (GPI) for Argentina is 1.865. Due to strong law enforcement presence and high social responsibility, Argentina is very safe by international standards. The strength of legal rights index for Argentina is 2. Overall, it is considered to be rather weak - bankrupcy and collateral laws are unable to protect the rights of borrowers and lenders in case of credit-related complications; credit information, if any at all, is scarce and hardly accessible.

Currency

The currency of Argentina is Argentine peso. The plural form of the word Argentine peso is pesos. The symbol used for this currency is $, and it is abbreviated as ARS. The Argentine peso is divided into Centavo; there are 100 in one peso.

Credit rating

The depth of credit information index for Argentina is 8, which means that information is mostly sufficient and quite detailed; accessibility is not a problem. According to the S&P credit-rating agency, Argentina has a credit rating score of SD, and the prospects of this rating are negative. According to the Fitch credit-rating agency, Argentina has a credit rating score of RD, and the prospects of this rating are negative. According to the Moody's credit-rating agency, Argentina has a credit rating score of Caa2, and the prospects of this rating are negative.

Central bank

The prime lending rate of Argentina's commercial banks is 25.5. In Argentina, the institution that manages the state's currency, money supply, and interest rates is called Central Bank of Argentina. Locally, the central bank of Argentina is called Banco Central de la República Argentina. The average deposit interest rate offered by local banks in Argentina is 20.4%.

Public debt

Argentina has a government debt of 118% of the country's Gross Domestic Product (GDP), as assessed in 2012.

Tax information

The corporate tax in Argentina is set at 35%. Personal income tax ranges from 9% to 35%, depending on your specific situation and income level. VAT in Argentina is 21%.

Finances

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Argentina is $964.279 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Argentina was last recorded at $0 million. PPP in Argentina is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Argentina is 579 billion. Based on this statistic, Argentina is considered to have a small economy. Countries with small economies generally support less industries and opportunities for investment. However, worthwhile investment opportunities may be found. The Gross Domestic Product (GDP) per capita in Argentina was last recorded at $0 million. The average citizen in Argentina has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Argentina averaged -1.7% in 2014. According to this percentage, Argentina is currently experiencing significant decline. Countries that are experiencing significant decline could be experiencing dramatic decreases in personal consumption, employment rate, and personal income. A significant decline in GDP should warn investors that this location poses a high level of risk and should not be considered a safe location for investment. To read more about financial information click on finances of Argentina.

Industry

Major industries in the country are food processing, motor vehicles, consumer durables, textiles, chemicals and petrochemicals, printing, metallurgy, steel. The total labor force of Argentina is 19,901,850 people, wherein 8.5% of population in the country are unemployed. The total number of unemployed people in Argentina is 3,798,553. The Industrial Production growth rate of Argentina is 6.7%.To read more about industrial information within Argentina click on industry of Argentina.

Agriculture

There are 274490 km2 of arable land in Argentina, and it comprises 10% of the country's total territory. There are 284342 km2 of cultivated land in Argentina. The country's major agricultural crops and products are sunflower seeds, lemons, soybeans, grapes, corn, tobacco, peanuts, tea, wheat, livestock.To read more about agriculture click on agriculture of Argentina.