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 39,930

0.8%

USD 3,565

Economic Statistics (years 2015 - forecast 2020)

 
National Accounts 2015 2016 2017 2018 f.2019 f.2020
             
GDP growth (%) 4.9% 4.3% 4.2% 4.1% 4.4% 3.9%
Nominal GDP (USD millions) 33,000 33,941 37,509 39,930 42,626 45,171
GDP per Head (USD) 3,084 3,114 3,379 3,565 3,739 3,928
Inflation (%) 3.0% 4.0% 2.7% 1.5% 3.4% 4.6%
Fiscal Balance (% GDP) -6.9% -6.6% -7.8% -8.0% -7.9% -7.1%
General Govt. gross debt (% GDP) 39.1% 45.7% 49.5% 51.6% 56.3% 56.4%

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) 2015 2016 2017 2018 f.2019 f.2020
             
Exports of Goods 8,684 7,030 8,105 8,879 8,872 9,185
Exports growth (%) -32.2% -19.0% 15.3% 9.5% -0.1% 3.5%
Imports of Goods 9,072 7,931 8,621 9,355 9,654 10,237
Imports growth (%) -8.3% -12.6% 8.7% 8.5% 3.2% 6.0%
Foreign Trade (% GDP) 54% 44% 45% 46% 43% 43%
             
Current Account Balance -1,936 -1,907 -1,871 -1,990 -2,274 -2,579
% GDP -5.9% -5.6% -5.0% -5.0% -5.3% -5.7%
Foreign Direct Investment 555 335 713 255 300 800
% GDP 1.7% 1.0% 1.9% 0.6% 0.7% 1.8%
 

 

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