ced an end to the peso's decade-long 1-to-1
peg to the US dollar. When the peso depreciated and inflation rose,
DUHALDE's government froze utility tariffs indefinitely, curtailed
creditors' rights, and imposed high taxes on exports. The economy
rebounded strongly from the crisis, inflation started falling, and
DUHALDE called for special elections. Nestor KIRCHNER was elected
President, taking office in May 2003, and continued the restrictions
imposed by DUHALDE. With the reemergence of double-digit inflation
in 2005, the KIRCHNER administration pressured businesses into a
series of agreements to hold down prices. The government also
restructured its defaulted debt in 2005, convincing most bondholders
to accept a large cut on the value of their holdings, and paid off
its IMF obligations from reserves in full in early 2006, both of
which have reduced Argentina's external debt burden. Real GDP has
continued growing strongly, averaging 9 percent during the period
2003-2006, bolstering government revenues and keeping the fiscal
accounts-a key vulnerability in the past-in surplus.

GDP (purchasing power parity):
$599.1 billion (2006 est.)

GDP (official exchange rate):
$210 billion (2006 est.)

GDP - real growth rate:
8.5% (2006 est.)

GDP - per capita (PPP):
$15,000 (2006 est.)

GDP - composition by sector:
agriculture: 9.5%
industry: 35.8%
services: 54.7% (2005 est.)

Labor force:
15.35 million (2006 est.)

Labor force - by occupation:
agriculture: NA%
industry: NA%
services: NA%

Unemployment rate:
10.2% (3rd quarter)

Population below poverty line:
31.4% (June 2006)

Household income or consumption by percentage share:
lowest 10%: 1%
highest 10%: 35%

Distribution of family income - Gini index:
48.3 (June 2006)

Inflation rate (consumer prices):
10% (November 2006 est.)

Investment (gross fixed):
22.6% of GDP (2006 est.)

Budget:
revenues: $52.1 billion
expenditures: $47.6 billion; including capital expenditures of $5.4
billion (2006 est.)

Public debt:
62.2% of GDP (2006 est.)

Agriculture - products:
sunflower seeds, lemons, soybeans, grapes, corn, tobacco, peanuts,
tea, wheat; livestock

Industries:
food processing, motor vehicles, consumer durables, textiles,
chemicals and petrochemicals, printing, metallurgy, steel

Industrial production growth rate:
8.2% (2006 est.)

Electricity - product