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% |
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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% |
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