Argentina is a developing country. It is the second-largest national economy in South America, behind Brazil. Argentina benefits from rich natural resources, a highly literate population, an export-oriented agricultural sector, and a diversified industrial base. Argentina's currency declined by about 50% in 2018 to more than 38 Argentine pesos per US Dollar and, as of that year, is under a stand-by program from the International Monetary Fund. In 2019, it fell further by 25%.

The following tables and chart will tell the change details in last 5-10 years:

Argentina Distribution of workforce from the last 5 years:


Argentina Distribution of GDP across economic sectors:


Here attached the last 10 years chart of Argentina GDP: (amount in billion USD):

3 Sectors of the Economy – Agriculture, Industry and Services:

  • Agriculture:

Agriculture is an important part in the Argentina's economy. It employs almost 0.09% of the total workforce and contributed almost 7.2% in GDP.

Seventy-five percent of Argentina's farms are family farms. They account for 18 percent of the country's agricultural land and produce 27 percent of total agricultural output.

Argentina is one of the world's major exporters of soybeans and wheat, as well as meat. It is also one of the largest producers of wool and wine, but most of its wine is consumed domestically.

Major products in this Sector:

Cereal: One of the main exports of the country are cereals, centered on corn, wheat and sorghum, with rice and barley produced mainly for national consumption. With a total area of around 220.000 km², the annual production of cereals is around 100 million tons. The value of exports of commodity from Argentina totaled $ 9.31 billion in 2019. This amounted to 14.3% of total exports from Argentina.

Beef: Beef and other meats are some of the most important agricultural export products of Argentina. Nearly 5 million tons of beef produced in Argentina, long the world's leading beef consumer on a per capita basis. During the 2019 Argentina exported 666,040 tons of beef worth $2. 4 billion., of which 329,500 tons were shipped to China. The Asian country is followed by Chile and Israel, with smaller volumes.

Soybean: Argentina is the third largest producer of soybean. In 2019, Argentina exported 3.4 billion US dollars' worth of soybean, up from 1.39 billion recorded in the previous year. Compared to 2018, the exports of this product increased by more than double. The production in 20121-22 is expected to push well above 50 million tons.

Agriculture Subsidy in Argentina:

Most of Argentina's budgetary support to the sector goes to these general services (GSSE). However, the total budgetary support to farmers and the sector overall (TBSE) was only 0.1% of GDP, well below the absolute value of negative market price support, making the total support estimate to agriculture (TSE) also negative, representing -1.8% of GDP.

Argentina provides negative support to its agricultural sector mainly due to export taxes that depress domestic producer prices. Estimated producer support was negative at -21.4% of gross farm receipts in 2017-19. Budgetary payments to producers are limited and focused on input support, provided mainly in the form of credit at preferential rates.

  • Industries:

Industry is an important part in the Argentina's economy. It accounts for 23.13% of GDP and employed almost 21.14% of the workforce.

Major Industries in this Sector:

Mining: Argentina holds reserves of lithium, copper, gold and silver. Argentina's biggest mining opportunity is thought to be in lithium. It is already the world's third biggest lithium producer and is home to 25% of the resources in the so-called lithium triangle which touches Bolivia and Chile. In 2019, mining companies invested $66m in lithium exploration, while four years earlier the figure was $6.7m.

Automotive Industry: Automotive industry in Argentina is the third largest in Latin America. In 2019, the gross production value of Argentina's automotive manufacturing industry amounted to 22.3 billion Argentine pesos. Argentina's auto industry produced 803,040 motor vehicles in 2019, and exported 433,000 (mainly to Brazil, which in turn exported a somewhat larger number to Argentina). Some global companies are present in Argentina, including Fiat, Volkswagen, Ford, Iveco, General Motors, Nissan, Toyota, Scania, Mercedes-Benz, Renault, Honda.

  • Services:

Service sector is an important part in the Argentina's economy. It contributes almost 53.63% in the GDP and employed almost 78.5% of the total Argentina's workforce.

Major Industries in this Sector:

Finance: Argentina's financial system saw a significant consolidation and strengthening, in large part through foreign investment. According to Moody's, in April 2021, the outlook for Argentina's banking system has changed from negative to stable due to the banks' relatively strong fundamentals, despite increasingly challenging operating conditions and persistent macroeconomic imbalances. The top banks in Argentina are Banco Galicia, Banco de la Nacion Argentina (BNA), Banco Macro.

Tourism: In 2019, the travel and tourism sector contributed with 15.48 billion US dollars to the gross domestic product (GDP) of Argentina. This represents a slight increase of around 30 million US dollars in relation to the previous year. Argentina recorded a total of 7 m tourists in 2019, ranking 56th in the world in absolute terms. It employs almost 21.02% of the total Argentina's workforce.

Top Companies in Argentina:

Company NameSectorMarket Cap (USD)
Bodegas EsmeraldaBeverages43.078B
Telecom ArgentinaTelecommunication6.001B
YPF Sociedad AnonimaOil and Gas5.727B
Celulosa ArgentinaWood Products4.324B
Banco MacroFinance3.002B
Grupo Financiero GaliciaFinance2.983B
Ternium ArgentinaConglomerate2.484B
Aluar Aluminio ArgentinoAluminum1.507B

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