Economy of Argentina
An overview of key economic indicators. Select a category for detailed trends, charts, and insights.
Explore Economic Domains
Growth & Output
Trade & Finance
Labor & Income
Energy & Environment
Economic Snapshot Overview
A summary of key economic indicators for Argentina
- The economic architecture of Argentina is substantial, anchored by a Gross Domestic Product (GDP) of approximately $646.08B2023. This places it as the 22nd largest economy out of 191 countries measured, underscoring its significance on the world stage. On a per capita basis, GDP stands at $14.19K2023, while its GDP in Purchasing Power Parity (PPP) terms is estimated at $1.37T, reflecting the population's domestic purchasing power. The economy is facing a contraction, with a negative growth rate of -1.6%2023,
- On the global stage, the nation's trade and financial dynamics reveal a complex interplay of factors. The country has a relatively balanced trade profile, with exports making up 12.7% of GDP and imports 13.9%2023. Foreign Direct Investment (FDI) inflows are significant, constituting 3.69% of the economy2023. This performance positions the country 52nd globally out of 186 nations, indicating its relative attractiveness to foreign capital. Additionally, personal remittances received amount to a substantial $1.01B annually2023, highlighting the economic importance of its diaspora. The government faces fiscal constraints, with tax revenue representing only 11.1% of GDP2022.
- The socio-economic landscape is characterized by a Gross National Income (GNI) per capita of $12,8902023. Globally, this ranks the nation 65th out of 190 in terms of GNI per capita, providing a clear measure of its national wealth relative to others. The labor market is stable, with unemployment at 7.9%2024. The services sector is a primary driver of the labor market, accounting for 76.4% of total employment2023. Poverty remains a key issue, with 41.7% of the population living below the national poverty line2023. There is a moderate level of income inequality, with a Gini index of 42.42023.
- On the environment and energy front, energy consumption per capita is 1,808.998 kg of oil equivalent2022. The energy mix is still heavily reliant on traditional sources, with renewables contributing 9.2%2021. Its commitment to clean energy places it 47th among 190 countries for its share of renewable energy consumption.
Key Economic Insights
Macroeconomic Health
Maintaining a balance between growth, inflation, and employment is the central challenge for economic policymakers.
Trade & Investment Profile
The economy is primarily driven by domestic demand, with limited exposure to global trade fluctuations but also fewer opportunities for export-led growth.
Social Equity & Distribution
Distributing the benefits of economic growth equitably is crucial for social cohesion and long-term stability.
Energy & Sustainability
Heavy reliance on fossil fuels creates significant long-term risks related to climate change, price volatility, and energy security.
Note: The information on this page has been compiled from authoritative sources. While every effort is made to ensure accuracy, please note that some figures may not be current or entirely precise.