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FinanceArgentina: Finance
Currency and
Exchange Rates: Monetary Units: - 100 centavos = 1 nuevo peso argentino (new Argentine peso).
Sterling, Dollar and Euro Equivalents (31 May 2021): - £1 sterling = 133,665 new pesos;
- US $1 = 94.630 new pesos;
- €1 = 115.458 new pesos;
- 1,000 new pesos = £7.48 = $10.57 = €8.66.
Average Exchange
Rate (new pesos per US $): - 2018 28.095
- 2019 48.148
- 2020 70.539
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 |
2019 |
2020* |
2021* |
| Current revenue |
3,812,824 | .1 |
4,638,220 | .1 |
6,719,991 | .3 |
| Tax revenue |
2,081,833 | .1 |
2,817,305 | .8 |
4,222,792 | .2 |
| Social security contributions |
1,055,534 | .9 |
1,525,047 | .4 |
2,127,534 | .8 |
| Sale of public goods and services |
7,335 | .6 |
7,320 | .4 |
13,031 | .8 |
| Property income |
561,539 | .6 |
169,851 | .7 |
198,961 | .5 |
| Current transfers |
19,181 | .6 |
8,255 | .5 |
8,098 | .4 |
| Capital revenue |
90,045 | .6 |
30,895 | .7 |
10,591 | .9 |
| Total |
3,902,869 | .7 |
4,669,115 | .8 |
6,730,583 | .2 |
|
|
|
|
|
| Expenditure |
2019 |
2020* |
2021* |
| Current expenditure |
4,476,656 | .8 |
6,992,466 | .3 |
8,063,196 | .3 |
| Consumption expenditure |
580,119 | .2 |
918,426 | .4 |
1,253,579 | .8 |
| Property income |
927,759 | .0 |
541,079 | .2 |
544,717 | .5 |
| Social security benefits |
1,864,985 | .1 |
2,590,626 | .8 |
3,380,959 | .1 |
| Current transfers |
1,103,656 | .6 |
2,759,904 | .0 |
2,669,449 | .5 |
| Capital expenditure |
284,931 | .0 |
459,552 | .9 |
779,869 | .7 |
| Direct investment |
155,554 | .6 |
257,867 | .3 |
437,779 | .2 |
| Capital transfers |
99,170 | .3 |
176,436 | .4 |
301,770 | .8 |
| Financial investment |
30,206 | .0 |
25,249 | .2 |
40,319 | .7 |
| Total |
4,761,587 | .8 |
7,452,019 | .2 |
8,843,066 | .0 |
|
* 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) |
|
|
|
| |
2018 |
2019 |
2020 |
| Gold (national valuation) |
2,256 | |
2,684 | |
3,758 | |
| IMF special drawing rights |
4,354 | |
2,602 | |
1,354 | |
| Reserve position in IMF |
372 | |
370 | |
386 | |
| Foreign exchange |
59,238 | |
39,221 | |
33,910 | |
| Total |
66,220 | |
44,877 | |
39,408 | |
|
Source: IMF, International
Financial Statistics Money Supply (million
new pesos at 31 December) |
|
|
|
| |
2017 |
2018 |
2019 |
| Currency outside banks |
702,045 | |
740,718 | |
1,010,110 | |
| Deposits |
2,416,222 | |
4,017,882 | |
4,758,522 | |
| Broad money |
3,118,267 | |
4,758,600 | |
5,768,632 | |
|
Cost of Living (Consumer Price Index; base: December 2016 = 100) |
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| |
2018 |
2019 |
2020 |
| Food and beverages |
148 | .2 |
234 | .8 |
345 | .0 |
| Clothing |
132 | .8 |
191 | .3 |
300 | .7 |
| Housing and amenities |
187 | .9 |
280 | .5 |
336 | .5 |
| All items (incl. others) |
151 | .6 |
232 | .8 |
330 | .5 |
|
National Accounts (million new
pesos at current prices) Expenditure on
the Gross Domestic Product |
|
|
|
| |
2018 |
2019* |
2020† |
| Government final consumption expenditure |
2,330,432 | |
3,316,012 | |
4,268,255 | |
| Private final consumption expenditure |
10,243,247 | |
14,547,945 | |
17,456,121 | |
| Increase in stocks |
200,948 | |
215,599 | |
36,106 | |
| Gross fixed capital formation |
2,248,738 | |
3,060,537 | |
3,816,718 | |
| Total domestic expenditure |
15,023,365 | |
21,140,093 | |
25,577,200 | |
| Exports of goods and services |
2,128,662 | |
3,858,115 | |
4,559,670 | |
| Less Imports of goods and services |
2,407,216 | |
3,165,361 | |
3,725,473 | |
| Statistical discrepancy |
n.a. | |
–30,590 | |
1,070,043 | |
| Gross domestic product (GDP) in market prices |
14,744,811 | |
21,802,256 | |
27,481,440 | |
| GDP at constant 2004 prices |
707,377 | |
693,046 | |
624,468 | |
|
Gross Domestic
Product by Economic Activity |
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|
|
| |
2018 |
2019* |
2020† |
| Agriculture, forestry and hunting |
614,184 | |
1,037,669 | |
1,543,784 | |
| Fishing |
54,917 | |
76,648 | |
86,526 | |
| Mining and quarrying |
565,649 | |
866,380 | |
857,865 | |
| Manufacturing |
2,073,142 | |
3,154,755 | |
4,223,679 | |
| Electricity, gas and water supply |
269,407 | |
392,054 | |
438,732 | |
| Construction |
589,211 | |
830,774 | |
885,981 | |
| Wholesale and retail trade |
2,180,003 | |
3,190,187 | |
4,451,863 | |
| Hotels and restaurants |
296,996 | |
423,205 | |
312,972 | |
| Transport, storage and communications |
777,793 | |
1,183,208 | |
1,320,843 | |
| Financial intermediation |
516,945 | |
652,569 | |
999,991 | |
| Real estate, renting and business activities |
1,507,222 | |
2,107,509 | |
2,655,948 | |
| Public administration and defence‡ |
1,039,301 | |
1,577,551 | |
1,890,537 | |
| Education, health and social work |
1,506,704 | |
2,144,793 | |
2,695,028 | |
| Other community, social and personal
service activities§ |
486,648 | |
703,246 | |
681,167 | |
| GDP at basic prices |
12,478,124 | |
18,340,548 | |
23,044,918 | |
| Value-added tax |
1,089,603 | |
1,532,597 | |
1,905,385 | |
| Import duties |
107,178 | |
163,076 | |
199,737 | |
| Net taxes on products |
1,069,906 | |
1,766,036 | |
2,331,400 | |
| GDP in market prices |
14,744,811 | |
21,802,256 | |
27,481,440 | |
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* Provisional † Preliminary ‡ Including extraterritorial organizations and bodies § Including private households with employed persons Balance of Payments (US $ million) |
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| |
2018 |
2019 |
2020 |
| Exports of goods f.o.b. |
61,801 | .0 |
65,156 | .0 |
54,945 | .4 |
| Imports of goods f.o.b. |
–62,544 | .2 |
–46,928 | .3 |
–40,314 | .8 |
| Trade balance |
–743 | .2 |
18,227 | .7 |
14,630 | .6 |
| Exports of services |
15,342 | .2 |
14,764 | .9 |
9,399 | .7 |
| Imports of services |
–24,277 | .4 |
–19,629 | .5 |
–11,639 | .6 |
| Balance on goods and services |
–9,678 | .5 |
13,363 | .1 |
12,390 | .7 |
| Primary income received |
6,276 | .9 |
6,328 | .0 |
4,039 | .2 |
| Primary income paid |
–24,927 | .1 |
–24,220 | .1 |
–14,236 | .5 |
| Balance on goods, services and primary
income |
–28,328 | .7 |
–4,529 | .0 |
2,193 | .4 |
| Secondary income received |
2,984 | .7 |
2,525 | .4 |
2,338 | .0 |
| Secondary income paid |
–1,739 | .6 |
–1,706 | .3 |
–1,218 | .6 |
| Current balance |
–27,083 | .6 |
–3,710 | .0 |
3,312 | .8 |
| Capital account (net) |
111 | .1 |
182 | .8 |
177 | .4 |
| Direct investment assets |
–1,726 | .0 |
–1,539 | .2 |
–1,293 | .8 |
| Direct investment liabilities |
11,716 | .8 |
6,663 | .1 |
4,019 | .1 |
| Portfolio investment assets |
–6,166 | .7 |
–2,104 | .4 |
2,216 | .5 |
| Portfolio investment liabilities |
13,090 | .6 |
–5,022 | .2 |
–4,979 | .3 |
| Financial derivatives and employee stock options
(net) |
32 | .1 |
24 | .3 |
–10 | .4 |
| Other investment assets |
–25,616 | .8 |
–31,253 | .2 |
–8,823 | .6 |
| Other investment liabilities |
19,735 | .8 |
693 | .2 |
–2,523 | .0 |
| Net errors and omissions |
–1,158 | .1 |
–1,509 | .4 |
991 | .5 |
| Overall balance |
–17,064 | .8 |
–37,575 | .0 |
–6,912 | .9 |
|
Source: IMF, International
Financial Statistics
Citation:
Finance (Argentina),
in Europa World online. London, Routledge.
Retrieved 23 January 2022 from http://www.europaworld.com/pub/entry/ar.ss.39
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