Imports/Exports in Argentina
Argentina is very open to international exchanges, foreign trade represening around 45% of the GDP. Its main commercial partners are the Mercosul countries (Brazil, Paraguay and Uruguay), China and the United States. Argentina exports more than it imports and its trade balance is therefore in surplus.The devaluation of the peso has boosted Argentina's exports (especially of agricultural products). However, the increased rate of the Argentinian peso compared to the American dollar risks damaging the competitiveness of Argentina's exports which would cause the balance of trade to deteriorate.
|Foreign Trade Indicators||2006||2007||2008||2009||2010|
|Imports of Goods (million USD)||34,152||44,706||57,423||38,780||56,443|
|Exports of Goods (million USD)||46,546||55,779||70,023||55,668||68,500|
|Imports of Services (million USD)||8,242||10,569||13,041||11,658||13,635|
|Exports of Services (million USD)||7,899||10,233||11,884||10,762||12,752|
|Imports of Goods and Services (Annual % Change)||15.4||20.5||14.1||-19.0||-|
|Exports of Goods and Services (Annual % Change)||7.3||9.1||1.2||-6.4||-|
|Imports of Goods and Services (in % of GDP)||19.2||20.3||20.7||16.0||-|
|Exports of Goods and Services (in % of GDP)||24.8||24.6||24.5||21.4||-|
|Trade Balance (million USD)||13,958||13,456||15,423||18,528||-|
|Trade Balance (Including Service) (million USD)||13,458||12,990||14,513||-||-|
|Foreign Trade (in % of GDP)||44.0||45.0||45.1||37.4||-|
Source: WTO - World Trade Organization ; World Bank
Main Partner Countries
(% of Exports)
|Other partnersClose extended list||54.2%|
(% of Imports)
|Other partnersClose extended list||35.7%|
Exchange Rate System
- Exchange Rate Regime
- The Convertibility Act of 1 April 1991 and the Deregulation Decree of November 1991 have abolished exchange control. There is therefore free convertibility of foreign currency and a right to transfer profits and capital at any time and with no declaration formalities. Argentina has a floating exchange system, but the government ensures it keeps a regular exchange rate with the dollar.
- Level of Currency Instability
- In 2001, Argentina suffered drastic devaluation. The Argentine peso which up to then was at parity with the dollar dropped to about one third of its value.
For a few years now, its value has remained stable in relation to the dollar thanks to the action of the central bank. It is still a high risk currency.
|Argentine Peso (ARS) - Average Annual Exchange Rate For 1 USD||2.90||3.05||3.10||3.14||3.71|
Source: World Bank
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