Argentina is
monetizing its government debt and inflation is 50.7% in 2019 up from 47.6% in
2018. Unemployment is 9.6%. Poverty is 33%. Government Debt to GDP is 97.7%.
It is government top
heavy and needs to privatize its industries, shrink government and expand the
private sector. Trade deficit is $6 billion. Its exports are in direct
competition with the US expansion. Their credit rating is poor, so their
interest paid on their debt is high. They implemented socialist policies over
the past decades and it’s coming home to roost. Their government spent too much
and now they’re screwed.
In 2018, Argentina had
a Nominal GDP of $475.429 billion and negative growth of minus 2.8%. Nominal
Per Capita GDP was $10,667 in 2018.
Argentina has a
population of 45,101,781 and a land area of 1.074 million square miles. Labor force
is 18 million.
GDP by Sector is
agriculture forestry and fishing 6%, mining 3.6%, manufacturing 17.2%, commerce
and tourism 16.9%, construction 5.6%, government 9.5%, transport communication
and utilities 7.9%, business and social services 33.3%.
Labor force
occupation is agriculture 7.3%, manufacturing 13.1%, construction 7.6%,
commerce and tourism 21.4%, transport communications and utilities 7.8%, financial
real estate and business service 9.4%, public administration and defense 6.3%,
social services and other 27.1%
Main Industries
include food processing, beverages, motor vehicle auto parts, appliances,
electronics, machinery, equipment, chemicals, pharmaceuticals, glass, steel,
aluminum, cement, textiles, tobacco, publishing, furniture and leather. Ease of
doing business 119th.
Exports were $58
billion including soybeans, corn, wheat, petroleum, gas and vehicles sold to
Brazil 16.1%, US 7.9%, China 7.5% and Chile 4.4%.
Imports were $64
billion including machinery, motor vehicles, petroleum, natural gas, organic
chemicals and plastics from Brazil 26.9%, China 18.5%, US 11.3% and Germany
4.9%
Government revenue
was $120.6 billion, spending was $158.6 billion. External Debt is $214.9
billion. Foreign reserves $61.6 billion. Current account -$31.32 billion.
Government revenue
included social security 26%, income tax 26%, VAT national sales tax 20%, trade
duties 15%, financial tax 6.3%, excise and other tax 9%.
Government spending
was $158.6 billion and includes social security 39%, subsidies and
infrastructure 22.5%, debt service 9.2%, education culture and research 8.8%,
social assistance 5.4%, health 3.4%, security 3.1$ defense 2.1%, other 6.7%.
Norb Leahy, Dunwoody
GA Tea Party Leader
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