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Argentina: Facts & StatsECONOMYIndustry:Manufacturing is the nation's largest single sector in the economy with 21.5% of the GDP in 2007 and is well-integrated into Argentine agriculture, accounting for nearly two-thirds of exports in all, with half the nation's industrial exports being agricultural in nature. Leading sectors by production value are: food processing, chemicals and pharmaceuticals, motor vehicles, farming equipment & auto parts, iron, steel & aluminum, petroleum, as well as home appliances and industrial machinery.Other manufactured goods include textiles & leather, plastics & tires, forestry products, publishing, cement, glass and tobacco products. Nearly half the nation's industries are in and around Buenos Aires although Córdoba and Rosario are also home to significant industrial centers. Construction permits nationwide neared 19 million m² (200 million ft²) in 2006 and the sector is 6% of GDP. Two-thirds of this total was residential construction. Agriculture:Argentine agriculture is relatively capital intensive, today providing about 7% of all employment and, even during its period of dominance around 1900, accounting for no more than a third of all labor. Having accounted for 20% of GDP as late as 1959, it adds, directly, less than 10% today; however, agricultural goods, whether raw or processed, still earn over half of Argentina's foreign exchange and, arguably, remain an indispensable pillar of the country's social progress and economic prosperity.Service industries:The service sector is the biggest contributor to total GDP, accounting for 58%. Argentina enjoys a diversified service sector, which includes well-developed social, corporate, financial, insurance, real-estate, transport and communication services, as well as vigorous commercial and tourist trades.The telecommunications sector has been growing at a fast pace with an important penetration of mobile telephony (more than 75% of the population), the Internet (with more than 16 million people online), and broadband services (4.1%). Regular telephone services (with 9.5 million lines) and mail services are robust. Tourism is increasingly important and provided 8% of economic output (over US$20 billion) in 2006. Argentines, who have long been active travelers within their own country, accounted for over 80% of this - though growing international tourism (4.2 million visited Argentina in 2006) contributed almost US$3.4 billion that year. Stagnant for over two decades, domestic travel has increased robustly in the last few years[89] and visitors are flocking to a country seen as affordable, exceptionally diverse, and safe. Cosmopolitan Buenos Aires, Rosario and the ocean-fronts of Mar del Plata & Pinamar, the Iguazu Falls, colonial Salta & Jujuy are rich in indigenous culture. The scenic foothills of Córdoba, the wineries of Mendoza, the ski slopes and lakes near Bariloche, the grottoes at San Antonio Oeste, Perito Moreno Glacier and Tierra del Fuego are among the nation's best-known tourism resources. |
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