General Information

Sales of minerals and gas represent 66.5% of exports. Metals (gold metal) are another important export item, accounting for 14.5% of total exports.
(Source: INE)

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

USD 37,122

0.7%

USD 3,353

Economic Statistics (years 2014 - forecast 2019)

 
National Accounts 2014 2015 2016 2017 f.2018 f.2019
             
GDP growth (%) 5.5% 4.9% 4.3% 4.2% 4.0% 4.1%
Nominal GDP (USD millions) 33,237 33,241 34,053 37,122 39,080 42,194
GDP per Head (USD) 3,147 3,099 3,125 3,353 3,458 3,734
Inflation (%) 5.2% 3.0% 4.0% 2.7% 3.9% 4.0%
Fiscal Balance (% GDP) -3.4% -6.9% -6.6% -7.3% -7.1% -6.9%
General Govt. gross debt (% GDP) 37.0% 40.6% 46.2% 50.9% 51.4% 52.3%

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) 2014 2015 2016 2017 f.2018 f.2019
             
Exports of Goods 12,810 8,684 7,000 7,746 8,257 8,546
Exports growth (%) 11.0% -32.2% -19.4% 10.7% 6.6% 3.5%
Imports of Goods 9,894 9,072 7,888 8,601 9,615 10,015
Imports growth (%) 13.3% -8.3% -13.1% 9.0% 11.8% 4.2%
Foreign Trade (% GDP) 68% 53% 44% 44% 46% 44%
             
Current Account Balance 571 -1,936 -1,932 -2,377 -2,752 -2,873
% GDP 1.7% -5.9% -5.7% -6.6% -7.0% -6.8%
Foreign Direct Investment 657 555 335 725 700 650
% GDP 2.0% 1.7% 1.0% 2.0% 1.8% 1.5%
 

 

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