2003, and to $13 billion
in 2004. One other concern is the rapid increase in domestic housing
prices, which have raised the prospect that interest rates will need
to be raised to prevent a speculative bubble.

GDP (purchasing power parity):
$611.7 billion (2004 est.)

GDP - real growth rate:
3.5% (2004 est.)

GDP - per capita:
purchasing power parity - $30,700 (2004 est.)

GDP - composition by sector:
agriculture: 3.4%
industry: 28.2%
services: 68.4% (2004 est.)

Labor force:
10.35 million (2004 est.)

Labor force - by occupation:
agriculture 3.6%, industry 26.4%, services 70% (2004 est.)

Unemployment rate:
5.1% (December 2004 est.)

Population below poverty line:
NA

Household income or consumption by percentage share:
lowest 10%: 2%
highest 10%: 25.4% (1994)

Distribution of family income - Gini index:
35.2 (1994)

Inflation rate (consumer prices):
2.3% (2004 est.)

Investment (gross fixed):
25.3% of GDP (2004 est.)

Budget:
revenues: $222.7 billion
expenditures: $221.7 billion, including capital expenditures of NA
(2004 est.)

Public debt:
17.4% of GDP (2004 est.)

Agriculture - products:
wheat, barley, sugarcane, fruits; cattle, sheep, poultry

Industries:
mining, industrial and transportation equipment, food processing,
chemicals, steel

Industrial production growth rate:
1.9% (2004 est.)

Electricity - production:
210.3 billion kWh (2002)

Electricity - production by source:
fossil fuel: 90.8%
hydro: 8.3%
nuclear: 0%
other: 0.9% (2001)

Electricity - consumption:
195.6 billion kWh (2002)

Electricity - exports:
0 kWh (2002)

Electricity - imports:
0 kWh (2002)

Oil - production:
537,500 bbl/day (2004 est.)

Oil - consumption:
796,500 bbl/day (2001 est.)

Oil - exports:
523,400 bbl/day (2001)

Oil - imports:
530,800 bbl/day (2001)

Oil - proved reserves:
3.664 billion bbl (1 January 2002)

Natural gas - production:
33.08 billion cu m (2001 est.)

Natural gas - consumption:
23.33 billion cu m (2001 est.)

Natural gas - exports:
9.744 billion cu m (2001 est.)

Natural gas - imports:
0 cu m (2001 est.)

Natural gas - proved reserves:
2.407 trillion cu m (1 January 2002)

Current account balance:
$-38.3 billion (2004 est.)

Exports:
$86.89 billion (2004 est.)

Exports - commodities:
coal, gold, meat, wool, alumina, iron ore, wheat, machinery and