Economy

Overview about Argentina’s Economy

With a Gross Domestic Product (GDP) of more than US$600 billion, Argentina is one of the largest economies in Latin America. Argentina is currently undergoing an economic transformation that promotes sustainable economic development with social inclusion and integration into the global economy.

Argentina has vast natural resources in energy and agriculture. Within its 2.8 million square kilometers of territory, Argentina is endowed with extraordinary fertile lands and has great potential for renewable energy. It is a leading food producer with large-scale agricultural and livestock industries.  In addition, Argentina has significant opportunities in some manufacturing subsectors, and innovative services in high tech industries.

Argentina was the top performer in the region in reducing poverty and boosting shared prosperity between 2004 and 2008. Incomes of the bottom 40% grew at an annualized rate of 11.8% compared to average income growth of 7.6%. This trend continued but slowed after 2008. In the first half of 2017, according to official statistics, 28.6% lived in poverty, while 6.2% were in extreme poverty.

Information Source: http://www.worldbank.org/en/country/argentina/overview