Europa World: The Europa World Year Book online Routledge -- Taylor & Francis group
 
Industry External Trade

Finance

Argentina: Finance

Currency and Exchange Rates:
Monetary Units:
  • 100 centavos = 1 nuevo peso argentino (new Argentine peso).
Sterling, Dollar and Euro Equivalents (31 December 2018):
  • £1 sterling = 47.735 new pesos;
  • US $1 = 37.600 new pesos;
  • €1 = 43.052 new pesos;
  • 100 new pesos = £2.09 = $2.66 = €2.32.
Average Exchange Rate (new pesos per US $):
  • 2016     14.758
  • 2017     16.563
  • 2018     28.095
Note: From April 1996 to December 2001 the official exchange rate was fixed at US $1 = 99.95 centavos. In January 2002 the Government abandoned this exchange rate and devalued the peso: initially there was a fixed official exchange rate of  $1 = 1.40 new pesos for trade and financial transactions, while a free market rate was applicable to other transactions. In February, however, a unified `floating' exchange rate system, with the rate to be determined by market conditions, was introduced.

General Government Budget (public sector accounts, million new pesos)

Revenue  2017  2018*  2019* 
Current revenue  1,995,312.5  2,378,005.4  3,309,773.7 
  Tax revenue  1,117,612.5  1,380,230.1  2,007,699.7 
  Social security contributions  727,253.8  797,874.9  1,043,257.4 
  Sale of public goods and services  5,858.8  6,400.5  6,060.3 
  Property income  71,110.0  132,662.7  179,535.0 
  Current transfers  6,587.9  4,274.4  7,051.8 
Capital revenue  2,770.0  18,383.0  114,702.5 
Total   1,998,082.5  2,396,388.4  3,424,476.2 
Expenditure  2017  2018*  2019* 
Current expenditure  2,419,198.0  2,958,072.2  3,840,545.1 
  Consumption expenditure  437,723.0  419,294.0  547,294.0 
  Property income  224,927.2  398,132.7  593,224.5 
  Social security benefits  1,022,540.8  1,311,466.3  1,792,971.9 
  Current transfers  682,518.4  829,094.5  906,940.3 
Capital expenditure  207,934.0  201,585.3  184,216.8 
  Direct investment  95,688.6  103,735.9  86,969.5 
  Capital transfers  99,482.8  86,174.5  84,603.9 
  Financial investment  12,762.6  11,674.9  12,643.4 
Total  2,627,132.0  3,159,657.5  4,024,761.9 
* Budget figures
Note: Figures refer to the consolidated accounts of the central and local governments and state-owned companies and entities.
Source: Oficina Nacional de Presupuesto, Secretaría de Hacienda, Ministerio de Economía y Finanzas Públicas, Buenos Aires

International Reserves (US $ million at 31 December)

  2015  2016  2017 
Gold (national valuation)  2,107  2,102  2,299 
IMF special drawing rights  2,845  2,400  2,542 
Reserve position in IMF     360  381 
Foreign exchange  20,571  33,563  50,107 
Total   25,523  38,425  55,329 
Source: IMF, International Financial Statistics

Money Supply (million new pesos at 31 December)

  2015  2016  2017 
Currency outside banks  425,718  527,765  702,281 
Demand deposits at commercial banks  259,405  410,384  462,281 
Total money  685,123  938,149  1,164,562 
Source: IMF, International Financial Statistics

Cost of Living (Consumer Price Index; base: December 2016 = 100)

  2017 
Food and beverages  111.7 
Clothing  108.3 
Housing and amenities  123.0 
All items (incl. others)  112.9 

National Accounts (million new pesos at current prices)

Expenditure on the Gross Domestic Product

  2015  2016*  2017 
Government final consumption expenditure  1,077,670  1,476,812  1,922,616 
Private final consumption expenditure  3,924,370  5,395,778  6,946,163 
Increase in stocks  89,673  195,537  405,229 
Gross fixed capital formation  926,804  1,198,763  1,562,380 
Total domestic expenditure  6,018,517  8,266,890  10,836,388 
Exports of goods and services  637,469  1,030,458  1,180,309 
Less Imports of goods and services  701,476  1,108,599  1,460,851 
Gross domestic product (GDP) in market prices  5,954,511  8,188,749  10,555,846 
GDP at constant 2004 prices  721,487  708,338  728,557 
* Provisional
 Preliminary

Gross Domestic Product by Economic Activity

  2015  2016*  2017 
Agriculture, forestry and hunting  293,166  498,319  564,555 
Fishing  13,889  21,986  27,494 
Mining and quarrying  190,013  264,674  314,676 
Manufacturing  844,444  1,113,747  1,371,461 
Electricity, gas and water supply  71,857  123,094  182,544 
Construction  272,338  315,363  434,598 
Wholesale and retail trade  807,863  1,076,121  1,371,431 
Hotels and restaurants  125,247  168,899  230,909 
Transport, storage and communications  319,594  441,293  601,019 
Financial intermediation   197,700  321,376  416,587 
Real estate, renting and business activities  559,630  750,356  1,024,932 
Public administration and defence  466,790  647,929  831,259 
Education, health and social work  628,226  875,014  1,135,316 
Other community, social and personal service activities§  218,455  294,461  382,743 
GDP at basic prices  5,009,211  6,912,632  8,889,524 
Value-added tax  433,076  583,217  765,336 
Import duties  35,512  56,365  70,635 
Net taxes on products  476,711  636,536  830,351 
GDP in market prices   5,954,511  8,188,749  10,555,846 
* Provisional
 Preliminary
 Including extraterritorial organizations and bodies
§ Including private households with employed persons

Balance of Payments (US $ million)

  2015  2016  2017 
Exports of goods f.o.b.  56,809.1  57,930.2  58,446.3 
Imports of goods f.o.b.  –57,594.2  –53,504.5  –63,993.3 
Trade balance  –785.2  4,425.7  –5,547.0 
Exports of services  13,213.5  12,801.5  14,195.5 
Imports of services  –19,028.6  –20,991.7  –24,082.6 
Balance on goods and services  –6,600.2  –3,764.5  –15,434.2 
Primary income received  2,359.4  2,932.0  4,052.0 
Primary income paid  –14,464.0  –15,036.7  –20,395.0 
Balance on goods, services and primary income   –18,704.8  –15,869.3  –31,777.2 
Secondary income received  2,563.7  2,885.9  2,678.4 
Secondary income paid  –1,480.9  –1,709.7  –2,225.4 
Current balance   –17,622.0  –14,693.0  –31,324.2 
Capital account (net)  51.9  370.8  144.6 
Direct investment assets  –875.2  –1,786.5  –1,155.6 
Direct investment liabilities  11,759.0  3,260.2  11,516.9 
Portfolio investment assets  –92.7  –797.8  –5,502.3 
Portfolio investment liabilities  529.9  36,053.1  41,424.1 
Financial derivatives and employee stock options (net)  25.0  –222.0  96.2 
Other investment assets  –8,813.7  –2,156.6  –12,625.3 
Other investment liabilities  11,059.5  –5,542.2  11,955.7 
Net errors and omissions  –926.9  –161.2  2.0 
Overall balance   –4,905.1  14,324.7  14,532.1 
Source: IMF, International Financial Statistics

Citation: Finance (Argentina), in Europa World online. London, Routledge. Retrieved 18 June 2019 from http://www.europaworld.com/pub/entry/ar.ss.39

Industry External Trade


Back to Top




Please note, this site uses web standards that your browser does not support.
See help for further information.