es, the economy has encountered
major problems in recent years, leading to escalating inflation and
a recession in 1988-90. A widening public-sector deficit and a
multidigit inflation rate have dominated the economy over the past
three years; retail prices rose nearly 5,000% in 1989 and another
1,345% in 1990. Since 1978, Argentina's external debt has nearly doubled
to $60 billion, creating severe debt-servicing difficulties and hurting
the country's creditworthiness with international lenders.

_#_GNP: $82.7 billion, per capita $2,560; real growth rate - 3.5%
(1990 est.)

_#_Inflation rate (consumer prices): 1,350% (1990)

_#_Unemployment rate: 8.6% (May 1990)

_#_Budget: revenues $12.2 billion; expenditures $17.3 billion,
including capital expenditures of $2.8 billion (1989)

_#_Exports: $12.4 billion (f.o.b., 1990);

commodities--meat, wheat, corn, oilseed, hides, wool;

partners--US 12%, USSR, Italy, Brazil, Japan, Netherlands

_#_Imports: $4.1 billion (c.i.f., 1990);

commodities--machinery and equipment, chemicals, metals, fuels and
lubricants, agricultural products;

partners--US 22%, Brazil, FRG, Bolivia, Japan, Italy, Netherlands

_#_External debt: $60 billion (December 1990)

_#_Industrial production: growth rate 5% (1991 est.); accounts for
30% of GDP

_#_Electricity: 16,749,000 kW capacity; 45,580 million kWh produced,
1,410 kWh per capita (1990)

_#_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 exporters of grain and beef; principal crops--wheat, corn,
sorghum, soybeans, sugar beets; 1987 fish catch estimated at 500,000 tons

_#_Economic aid: US commitments, including Ex-Im (FY70-89), $1.0
billion; Western (non-US) countries, ODA and OOF bilateral commitments
(1970-88), $4.0 billion; Communist countries (1970-89), $718 million

_#_Currency: austral (plural--australes); 1 austral (2) = 100
centavos

_#_Exchange rates: australes (2) per US$1--9,900 (April 1991),
4,707 (1990), 423 (1989), 8.7526 (1988), 2.1443 (1987), 0.9430 (1986),
0.6018 (1985)

_#_Fiscal year: calendar year

_*_Communications
_#_Railroads: 34,172 km total (includes 169 km electrified); includes
a mixture of 1.435-meter standard gauge, 1.676-meter broa