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 May 2017):
  • £1 sterling = 20.670 new pesos;
  • US $1 = 16.100 new pesos;
  • €1 = 18.066 new pesos;
  • 100 new pesos = £4.84 = $6.21 = €5.54.
Average Exchange Rate (new pesos per US $):
  • 2014     8.075
  • 2015     9.233
  • 2016     14.758
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, forecasts)

Revenue  2014  2015  2016 
Current revenue  930,876.4  1,102,095.1  1,261,883.1 
  Tax revenue  534,393.6  636,119.8  733,180.3 
  Social security contributions  286,814.2  341,607.8  393,447.0 
  Sale of public goods and services  3,541.1  4,070.1  4,676.6 
  Property income  86,341.6  94,494.0  101,597.1 
  Current transfers  550.3  4,589.5  4,960.3 
Capital revenue  287.9  356.5  376.1 
Total   931,164.3  1,102,451.6  1,262,259.2 
Expenditure  2014  2015  2016 
Current expenditure  820,881.3  950,060.8  1,087,375.0 
  Consumption expenditure  160,386.1  168,893.4  174,521.6 
  Property income  80,322.5  94,020.5  108,652.2 
  Social security benefits  329,235.7  391,329.2  471,822.8 
  Current transfers  219,306.9  252,524.3  278,260.1 
Capital expenditure  106,703.9  146,139.6  166,361.6 
  Direct investment  53,630.0  70,144.4  81,762.2 
  Capital transfers  47,113.6  69,205.7  77,648.6 
  Financial investment  5,960.3  6,789.5  6,950.8 
Total  927,585.2  1,096,200.4  1,253,736.6 
Note: Budget 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)

  2014  2015  2016 
Gold (national valuation)  2,387  2,107  2,102 
IMF special drawing rights  2,975  2,845  2,400 
Reserve position in IMF       360 
Foreign exchange  26,042  20,571  33,563 
Total   31,404  25,523  38,425 
Source: IMF, International Financial Statistics

Money Supply (million new pesos at 31 December)

  2014  2015  2016 
Currency outside banks   315,903  425,718  527,765 
Demand deposits at commercial banks  219,195  259,405  410,384 
Total money  535,098  685,123  938,149 
Source: IMF, International Financial Statistics

Cost of Living (Consumer Price Index for Buenos Aires metropolitan area; base: April 2016 = 100)

  2017* 
Food and beverages  116.1 
Clothing  109.1 
Housing and amenities  115.5 
All items (incl. others)  115.0 
* Average of 12 months ending April 2017

National Accounts (million new pesos at current prices)

Expenditure on the Gross Domestic Product

  2014  2015*  2016 
Government final consumption expenditure  776,149  1,082,812  1,482,892 
Private final consumption expenditure  2,993,766  3,831,589  5,326,894 
Increase in stocks  58,746  61,493  113,496 
Gross fixed capital formation  731,719  927,274  1,188,457 
Total domestic expenditure  4,560,380  5,903,168  8,111,739 
Exports of goods and services  659,838  644,437  1,023,997 
Less Imports of goods and services  641,132  693,591  1,079,748 
Gross domestic product (GDP) in market prices  4,579,086  5,854,014  8,055,988 
GDP at constant 2004 prices  702,306  720,898  704,330 
* Provisional
 Preliminary

Gross Domestic Product by Economic Activity

  2014  2015*  2016 
Agriculture, forestry and hunting  296,468  282,822  491,297 
Fishing  10,913  13,886  21,981 
Mining and quarrying  170,195  191,253  271,584 
Manufacturing  676,458  846,937  1,115,538 
Electricity, gas and water supply  52,742  67,297  107,424 
Construction  212,288  272,257  316,603 
Wholesale and retail trade  553,275  706,551  960,784 
Hotels and restaurants  92,601  125,434  166,256 
Transport, storage and communications  252,845  325,557  452,646 
Financial intermediation   159,737  202,876  314,041 
Real estate, renting and business activities  416,131  569,534  771,864 
Public administration and defence  336,546  469,488  641,311 
Education, health and social work  448,914  612,934  859,611 
Other community, social and personal service activities§  164,143  222,329  298,099 
GDP at basic prices  3,843,257  4,909,156  6,789,039 
Value-added tax  331,202  433,076  583,487 
Import duties  30,058  35,512  56,365 
Net taxes on products  374,569  476,270  627,098 
GDP in market prices   4,579,086  5,854,014  8,055,988 
* Provisional
 Preliminary
 Including extraterritorial organizations and bodies
§ Including private households with employed persons

Balance of Payments (US $ million)

  2014  2015*  2016* 
Exports of goods f.o.b.  68,407  56,788   57,733 
Imports of goods f.o.b.  –62,429  –57,176  –53,243 
Trade balance  5,978  –388  4,490 
Exports of services  13,877  14,046  12,795 
Imports of services  –16,940  –17,971  –19,805 
Balance on goods and services  2,915  –4,313  –2,520 
Other income received (net)  –11,614  –12,122  –12,551 
Balance on goods, services and income   –8,699  –16,435  –15,071 
Current transfers (net)  –158  –372  46 
Current balance   –8,856  –16,806  –15,024 
Capital account (net)  59  51  237 
Net investment in banking sector  3,842  9,025  –4,153 
Net investment in public sector  6,362  –2,855  28,320 
Net investment in private sector  59  6,981  4,727 
Net errors and omissions  –271  –1,330  –382 
Overall balance   1,195  –4,933  13,725 
*  Provisional figures

Citation: Finance (Argentina), in Europa World online. London, Routledge. Retrieved 15 December 2017 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.