Economy in Ireland

Argentina’s economy is based predominantly on farming and agricultural products. The manufacturing and mining industries have also shown growth in the last decade. Argentina is one of South America’s largest cattle and grain producing areas, and is home to the leading meatpacking and grain processing firms.

The bulk of agricultural products are exported, and most of them go to the two main customers -- the United States and Brazil. The tourist industry has also increased: the number of visitors to Argentina in 1999 grew 22% over the previous year.

The average gross domestic product is 102 042 million US dollars. The labour force is about 15.7 million. More than 100 000 jobs were lost as a consequence of President Menem’s privatisation programme, which began in the 1990s, driving the unemployment rate up to 17.8 %.

Foreign trade
A worldwide increase in the demand for food has a favourable effect on Argentina’s balance of trade. Brazil and the United States are important trade partners for both imported and exported goods.

Other significant trade relations exist between the countries of the European Union (Germany, the Netherlands, Italy, Spain), Japan, China, Chile and Uruguay. The Latin American Trade Association controls regional trade with other Latin American countries. The balance of trade is negative, as import prices exceed the revenue from exports.

The main import goods are machinery, electronic equipment, chemical products, vehicles and vehicle parts, hardware, combustibles, paper and wood. The most important exported goods are grains, oil seeds, meat, iron, steel, wool, skins, milk products, domestic animals, transportation equipment, metals, leather and furs.