Economy of Argentina

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10.2% (4/2010)

Argentina benefits from rich natural resources, a highly literate population, an export-oriented agricultural sector and a diversified industrial base. Historically, however, Argentina's economic performance has been very uneven, in which high economic growth alternated with severe recessions, particularly during the late twentieth century. Early in the twentieth century it was one of the richest countries in the world and the richest in the Southern hemisphere,[12] though it is now an upper-middle income country. Argentina is considered an emerging economy by the FTSE Global Equity Index, and is one of the G-20 major economies.

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Natural resources

Argentina is one of the world's major agricultural producers, ranking among the top producers and, in most of the following, exporters of citrus fruit, grapes, honey, maize, sorghum, soybeans, squash, sunflower seeds, wheat, and yerba mate.[13] Agriculture accounted for 7.5% of GDP in 2009, and nearly one fifth of all exports (not including processed food and feed, which are another third). Soy and its byproducts, mainly animal feed and vegetable oils, are major export commodities at 24% of the total. Wheat, maize, sorghum and other cereals totaled 8%.[6] Cattle-raising is also a major industry, though mostly for domestic consumption; beef, leather and dairy were 5% of total exports.[6] Sheep-raising and wool are important in Patagonia, though these activities have declined by half since 1990.[6]

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