eles
US:
Ambassador Terence A. TODMAN; Embassy at 4300 Colombia, 1425 Buenos Aires
(mailing address is APO AA 34034); telephone [54] (1) 774- 7611 or 8811,
9911; Telex 18156 AMEMBAR
Flag:
three equal horizontal bands of light blue (top), white, and light blue;
centered in the white band is a radiant yellow sun with a human face known
as the Sun of May

:Argentina Economy

Overview:
Argentina is rich in natural resources and has a highly literate population,
an export-oriented agricultural sector, and a diversified industrial base.
Nevertheless, following decades of mismanagement and statist policies, the
economy has encountered major problems in recent years, leading to
escalating inflation and a recession during 1988-90. Since 1978, Argentina's
external debt has nearly doubled to $58 billion, creating severe debt
servicing difficulties and hurting the country's creditworthiness with
international lenders. Elected in 1989, President Menem has implemented a
comprehensive economic restructuring program that shows signs of reversing
Argentina's economic decline and putting it on a path of stable, sustainable
growth.
GDP:
exchange rate conversion - $101.2 billion, per capita $3,100; real growth
rate 5.5% (1991 est.)
Inflation rate (consumer prices):
83.8% (1991)
Unemployment rate:
6.4% (October 1991)
Budget:
revenues $13.6 billion; expenditures $16.6 billion, including capital
expenditures of $2.5 billion (1991)
Exports:
$12 billion (f.o.b., 1991)
commodities:
meat, wheat, corn, oilseed, hides, wool
partners:
US 12%, USSR, Italy, Brazil, Japan, Netherlands
Imports:
$8 billion (c.i.f., 1991)
commodities:
machinery and equipment, chemicals, metals, fuels and lubricants,
agricultural products
partners:
US 22%, Brazil, FRG, Bolivia, Japan, Italy, Netherlands
External debt:
$61 billion (January 1992)
Industrial production:
growth rate 20% (1991 est.); accounts for 30% of GDP
Electricity:
17,059,000 kW capacity; 47,357 million kWh produced, 1,450 kWh per capita
(1991)
Industries:
food processing, motor vehicles, consumer durables, textiles, chemicals and
petrochemicals, printing, metallurgy, steel
Agriculture:
accounts for 15% of GNP (including fishing); produces abundant food for both
domestic consumption and exports; among world's top five exporte