General Information

Sales of minerals and gas represent 80% of exports. Metals (gold metal) are another important export item, accounting for 15% of total exports.
(Source: INE, Trademap)

Gross Domestic Product (GDP) % of regional GDP GDP per head

USD 40,895

0.8%

USD 3,556

Economic Statistics (years 2016 - forecast 2021)

 
National Accounts 2016 2017 2018 2019 f.2020 f.2021
             
GDP growth (%) 4.3% 4.2% 4.2% 2.2% -3.9% 3.3%
Nominal GDP (USD millions) 33,941 37,509 40,288 40,895 39,777 42,509
GDP per Head (USD) 3,086 3,349 3,534 3,556 3,442 3,602
Inflation (%) 4.0% 2.7% 1.5% 1.5% 1.2% 4.2%
Fiscal Balance (% GDP) -7.2% -7.8% -8.1% -7.2% -10.3% -8.8%
General Govt. gross debt (% GDP) 45.7% 49.6% 51.3% 57.1% 66.1% 69.0%

Trade Statistics

Foreign Trade - Composition        
           
Exports     Imports    
           
By countries     By countries  
Brazil 17.9%   China   19.9%
Argentina 16.0%   Brazil   17.5%
US 7.8%   Argentina   10.5%
Japan 7.3%   US   9.8%
           
By products     By products  
Fuels and mining prod. 78.2%   Manufactures 77.1%
Agricultural products 16.7%   Fuels and mining prod. 14.4%
Manufactures 4.4%   Agricultural products 7.9%

 

   
Balance of Payments (USD millions) 2016 2017 2018 2019 f.2020 f.2021
             
Exports of Goods 7,030 8,134 8,895 8,779 7,237 7,895
Exports growth (%) -19.0% 15.7% 9.4% -1.3% -17.6% 9.1%
Imports of Goods 7,931 8,681 9,355 9,068 7,532 8,535
Imports growth (%) -12.6% 9.5% 7.8% -3.1% -16.9% 13.3%
Foreign Trade (% GDP) 44% 45% 45% 44% 37% 39%
             
Current Account Balance -1,907 -1,849 -1,820 -1,362 -1,309 -1,734
% GDP -5.6% -4.9% -4.5% -3.3% -3.2% -4.1%
Foreign Direct Investment 335 713 302 -160 -100 200
% GDP 1.0% 1.9% 0.7% -0.4% -0.2% 0.5%
 

 

Disclaimer

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