The economic collapse of 2001 – a result of poor financial administration and political instability - brought about higher levels of unemployment and a sudden fall in GDP. As a result, poverty has increased and the country’s external debt is estimated at more than US$ 145 billion.
In 2000, GDP per capita in Argentina was Intl $12,791 as compared with $9623 in Chile; $4985 in Peru; $ 6,394 in Colombia and $2368 in Bolivia (Graph 2)
Graph 2. Gross Domestic Product (GDP) per capita in international dollars (Intl $) in countries of South America, 2001- Source: WHO statistics 2000-2002
Most Argentinean economy relies on the international selling of its natural resources (table 11) High inflation and unemployment rates are main economical and social burdens.
Table 11: Summary of Argentinean economic profile34,35 (2002 estimates)
GDP/PPP |
$458.3 billion |
GDP per capita |
$10423.11 |
Inflation
(1990-2000) |
8.9% |
Inflation rate (consumer prices) (2002, yearend) |
41% |
Unemployment (2003 estimates) |
16.3%. |
Labor force
(1999 estimates) |
15 million |
Natural resources |
fertile plains of the pampas, lead, zinc, tin, copper, iron ore, manganese, petroleum, uranium. |
Agriculture |
sunflower seeds, lemons, soybeans, grapes, corn, tobacco, peanuts, tea, wheat; livestock. |
Industries |
food processing, motor vehicles, consumer durables, textiles, chemicals and petrochemicals, printing, metallurgy, steel |
|
Your Location: Global Analysis Home > Countries A-Z > Argentina > Political Economy