Lewes, DE -- (SBWire) -- 05/15/2019 --Argentina's economy shrank 6.2 percent in the fourth quarter of 2018, where analysts had expected a 6.4 percent contraction. Unemployment also rose to 9.1 percent from 9 percent in the same period. After a disappointing 2018 when the national currency fell by 50 percent, Argentines staring upon 40% inflation in 2019-2020.
Argentina, officially the Argentine Republic, is a federal republic located in southeastern South America. Covering most of the Southern Cone, it is bordered by Bolivia and Paraguay to the north, Brazil to the northeast, Uruguay and the Atlantic Ocean to the east, Chile to the west and the Drake Passage to the south. Argentina claims sovereignty over part of Antarctica, the Falkland Islands, South Georgia, and the South Sandwich Islands. A historical and current middle power, prominent Latin American and Southern Cone regional power, Argentina is one of the G-15and G-20 major economies and Latin America's third-largest. It is also a founding member of the United Nations, WBG, WTO, OAS, Mercosur, UNASUR, CELAC and OEI.
Argentina had an estimated population of 43.6 million in the year 2016 and expected to reach 46.667 million by 2022. Argentina's unemployment rate was 8.467% of the total labor force.
Argentina's real gross domestic product (GDP) was around ARS 704.33 billion in 2016 whereas the nominal GDP was ARS 8055.99 billion. This resulted in GDP deflator 1143.78. Per capita GDP was estimated at USD 12502.82 whereas purchasing power parity (PPP) based per capita GDP was estimated to be at USD 20047.49.
In 2016, the Argentina government's revenue was ARS 2714.83 billion whereas the expenditure was ARS 3181.39 billion. This resulted in Argentina government's net lending / borrowing negative at ARS 466.555 billion in 2016 indicating that enough financial resources were not made available by the government to boost economic growth.
The current account balance for Argentina was estimated to be at USD 14.172 billion for the year 2016 and is expected to decline at a CAGR of 12.30% and reach USD 37.845 by 2022. This negative current account balance indicates Argentina is net borrower from the whole world.
Scope of Argentina – PESTLE Analysis Report
- This report provides information about key macroeconomic indicators for Argentina.
- This report provides PESTLE (political, economic, social, technological, legal and environmental) analysis for Argentina.
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