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Gcr for Argentina

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Demographics of Argentina | Population of Argentina, 1961–2010 | Population: | 40,091,359 (2010 census [INDEC])[1] | Growth rate: | 1.036% (2010 est.)[2] | Birth rate: | 17.75 births/1,000 population (2010 est.) | Death rate: | 7.39 deaths/1,000 population (July 2010 est.) | Life expectancy: | 76.76 years | –male: | 73.52 years | –female: | 80.17 years (2010 est.) | Fertility rate: | 2.33 children born/woman (2010 est.) | Infant mortality rate: | 11.11 deaths/1,000 live births | Age structure: | 0-14 years: | 25.6% (male 5,369,477/female 5,122,260) | 15-64 years: | 63.5% (male 12,961,725/female 13,029,265) | 65-over: | 10.8% (male 1,819,057/female 2,611,800) (2010 est.) | Sex ratio: | Total: | 0.97 male(s)/female (2010 est.) | At birth: | 1.052 male(s)/female | Under 15: | 1.05 male(s)/female | 15-64 years: | 1 male(s)/female | 65-over: | 0.7 male(s)/female | Nationality: | Nationality: | Argentine | Major ethnic: | European 86.4%[3] | Minor ethnic: | Mestizo (mixed white and Amerindian ancestry) 8%, 4% Arab or East Asian heritage, Amerindian 1.4%[3] | Language: | Official: | Castilian language | Spoken: | German, Italian, Welsh, Guarani and many others are also spoken varying by region | ARGENTINA ECONOMIC OVERVIEW:
Argentina's economy is one of the richest and most diversified in Latin America. The nation has a variety of natural and other resources which have combined to produce an economy that is based on a strong industrial base, an export-oriented agricultural sector, and a growing service sector. The Argentine population is highly educated and skilled, and the country has a variety of natural resources including lead, zinc, copper, iron petroleum, uranium, and rich agricultural areas. However, after repeated periods of military dictatorship, the nation faced a variety of economic problems when the first sustained period of civilian control of the government began in 1983. By 1989, the nation had an enormous external debt , and inflation had reached a level of 200 percent per month. In response, the government undertook a variety of programs to reform and reinvigorate the economy. In 1991, it initiated a series of programs which provided a fixed exchange rate between the peso and the U.S. dollar and ultimately reformed the banking system. This dramatically lowered inflation and helped stabilize the economy. The government in 2001 continued an economic program which raised taxes and cut government spending in an effort to lower the nation's budget deficit and overall debt.
Argentina underwent an economic boom period in the early 1990s. By 1997, GDP growth had reached 8 percent per year. Reforms in the economy led to increased competition and output. These reforms also attracted significant new foreign investment. Between 1992 and 1999, exports more than doubled from US$12 billion to US$25 billion. In overall terms, international trade remains only a small part of the Argentine economy. In 1995 Argentina, Brazil, Chile, and Uruguay created a free trade area named MERCOSUR. The trade organization has dramatically lowered tariffs between the member nations with reductions in some tariffs of 100 percent. As a result, trade between the member states increased from US$4 billion in 1991 to US$23 billion in 1999. Argentina accounts for 27 percent of MERCOSUR's total GDP. Brazil is now Argentina's largest trading partner. Argentina's exports to MERCOSUR countries are expected to continue to increase and to help spur the economy.
In 1998, the nation began a severe recession that ended in 2000. In 1999, GDP fell by 3 percent, but by 2000 growth had returned at a 2 percent annual rate. However, unemployment in the nation continues to be problematic. Unemployment peaked in 1995 at 18.4 percent. Although it has fallen, it remained at 15.4 percent as of 2000. Increases in productivity and reforms of the labor market are expected to decrease unemployment as more foreign investors locate or relocate firms and factories in Argentina.
The strongest areas of the Argentine economy are telecommunications, food processing, banking, energy production, and mining. Food processing alone accounted for 23 percent of GDP in industry in 1998 and is one of the few areas in which Argentina has a trade surplus . The nation's large agricultural sector produces a variety of products that are used by domestic food industries and then exported. Agriculture provides about 40 percent of Argentine exports. Besides food processing, Argentina's main industries are automobile production, textiles, chemicals and petrochemicals, steel, mining, and consumer durables. After falling by 7 percent in 1999, industrial production recovered slightly in 2000, with a modest growth of 2 percent. Many major international car manufacturers have plants in Argentina, including Ford, Volkswagen, Fiat, General Motors, and Renault. Mining production is expected to double by 2004, with strong growth in gold and copper production. The Argentine telecommunications sector was one of the first in Latin American to be privatized . Since 1991, the sector has experienced continued growth as consumers have sought new technologies, including cellular phones, pagers, and cable television. Reforms in 1994 eliminated restrictions on foreign-owned banks, and insurance firms and many multinational financial companies operate in Argentina. Some of the larger firms include the U.S.-owned American Express Bank, Citibank, Chase Manhattan, Bank Boston, the Dutch-owned ABN Amro Bank, and the British-owned Lloyds Bank.
Argentina continues to face yearly deficits—US$4 billion or 2.5 percent of GDP in 1999 alone. In 1999, the country's debt was US$149 billion. However, Argentina is a net recipient of foreign aid. It receives about US$2 billion a year from international organizations such as the European Union (EU) and the World Bank. In 1999, the International Monetary Fund (IMF) established a contingency fund of US$7.4 billion that can be loaned to Argentina in order to maintain the nation's currency and economic stability.

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: Argentina Overview of economy, Information about Overview of economy in Argentina

Economy of Argentina | | Currency | Argentine Peso (ARS) | Fiscal year | Calendar year | Trade organizations | WTO, Mercosur, Unasur | Statistics | GDP | $435.2 billion (nominal, 2011)
$710.7 billion (PPP) (21st, 2011)[1] | GDP growth | 8.8% (2011) | GDP per capita | $10,640 (nominal, 2011)[1]
$17,376 (PPP) (51st, 2011) | GDP by sector | Agriculture, forestry, and fishing, 9.2%; mining, 3.3%; manufacturing, 18.8%; construction, 5.2%; commerce and tourism, 13.5%; transport, communications and utilities, 8.5%; finance, real estate and business services, 15.0%; government, 6.3%; education, health care and other, 20.2%. (2010)[2] | Inflation (CPI) | 9.5% (2011)Congressional estimate: 22.8% (2011)[3] | Population below poverty line | 8.3% (2011)[4] | Gini coefficient | 0.379 (Q1 2011)[5] | Labour force | 17 million (2007) categories: private-sector employees, 49%; employers and the self-employed, 27%; public-sector employees, 21%; unpaid family workers, 3% (2001).[6] | Labour force by occupation | Agricultural, 7.3%; manufacturing, 13.1%; construction, 7.6%; commerce and tourism, 21.4%; transport, communications and utilities, 7.8%; financial, real estate and business services, 9.4%; public administration and defense, 6.3%; social services and other, 27.1%. (2006)[6] | Unemployment | 6.7% (12/2011)[7] | Average gross salary | US$9,620 (2011, includes part-time wage earners)[8] | Main industries | Food processing and beverages; motor vehicles and auto parts; appliances and electronics; chemicals, petrochemicals, and biodiesel; pharmaceuticals; steel and aluminum; machinery; glass and cement; textiles; tobacco products; publishing; furniture; leather. | Ease of Doing Business Rank | 113th[9] | External | Exports | US$84.3 billion (2011) | Export goods | Soy and soy products, 23.8%; motor vehicles and parts, 12.1%; cereals (mainly maize and wheat), 9.9%; chemicals, 7.1%; fruit and vegetable products, 4.2%; natural gas and petroleum, 3.9%; aluminum and steel, 3.7%; refined fuel, 3.3%; electric machinery, 2.9%; gold, 2.9%; biodiesel, 2.5%; other industrial products, 5.9%; all other (mainly agro-industrial goods), 17.8%. (2011)[10] | Main export partners | Brazil, 21.2%; China, 9.0%; Chile, 6.6%; United States, 5.2%. (2010)[11] | Imports | US$73.9 billion (2011) | Import goods | Capital goods and parts, 34.8%; intermediate goods, 29.5%; refined fuel and lubricants, 12.7%; automobiles and parts, 8.4%; consumer durables (except auto), 4.5%; freight and farm vehicles, 4.3%; all other (mostly consumer non-durables), 5.8%. (2011)[10] | Main import partners | Brazil, 31.8%; China, 13.6%; United States, 10.7%; Germany, 5.7%. (2010)[11] | FDI stock | $86.7 billion (12/2010)[12] | Gross external debt | $132.5 billion (9/2011)[12] | Public finances | Public debt | 39.5% of GDP, US$176.4 billion (Treasury securities, 70%; direct loans, 17%); of which external, US$71.5 bil. (9/2011)[12] | Revenues | US$141.1 billion (2011) (social security, 30.1%; value-added taxes, 26.3%; taxes on income and capital gains, 19.3%; customs duties, 12.3%; taxes on assets, 7.2%; excise taxes and other, 4.8%)[13] | Expenses | US$146.5 billion (2011) (social security, 32.2%; subsidies and infrastructure, 17.5%; health, 13.8%; debt service, 9.7%; education, culture and research, 6.4%; social assistance, 6.1%; defense and security, 5.4%; other, 8.9%)[14] | Credit rating | B (Domestic)
B (Foreign)
B (T&C Assessment)
(Standard & Poor's)[15] | Foreign reserves | $46.5 billion (12/2011)[12] | Main data source: CIA World Fact Book
All values, unless otherwise stated, are in US dollars | |

(Compared economic performance of Argentina (100 = Latin American average GDP per capita PPP)

Basic Information | Area: | 2.7 million sq. kms | Population: | 40 million | Capital: | Buenos Aires City (Population – 3 million) | Other major cities: | Cordoba (Pop: 1.5 mn; industrial and educational centre)Rosario (Pop: 1 mn; agribusiness) | Language: | Spanish | Literacy rate: | 97% | States: | 23 provinces and Federal Capital | Provinces of Business Interest | Cordoba - Manufacturing, agribusiness, IT & educational centre
Santa Fe - Agribusiness
Entre Rios - Agribusiness
Mendoza - Wine, oil & gas and minerals
Neuquen - Oil & gas
Santa Cruz - - do –
Chubut - - do –
San Juan – Minerals | Main Ports: | Buenos Aires, Rosario and Bahía Blanca | International Airports: | Buenos Aires, Mendoza, Córdoba and Salta | Currency: | Argentine Peso written as ‘$’, the same as US Dollar sign | Electric current: | 220AC (50 Hz) | Telephone Code: | Argentina 54
Buenos Aires 11
Rosario 341
Córdoba 351
Mendoza 261
Mar del Plata 223

For calling mobile phones from outside Argentina, after the country code 0054, the area code is 911 [but inside the country, it is 15] | Internet country code: | .ar | Climate: | Pleasant; no extremes. Since Argentina is in the Southern hemisphere, the seasons are the opposite to those of India.
Peak summer : December – January
Peak winter : June-July | Holiday Season | From 20 December to 31 January
Summer vacations spots – Mar del Plata, Punta del Este (Uruguay)
Winter vactions spots – Bariloche and Las Leñas ski resorts | Time: | 8 ½ hours behind India. | Government: | Presidential form of Government; President Cristina Fernandez de Kirchner (from December 2007 for four years)
The provinces are autonomous with elected governors and legislatures.
[] | Tourist Information: | (city information) (about tango and culture) | Tourist attractions: | Iguazú waterfalls
El Calafate - Glacier
Ushuaia - Southernmost city (End of the world)
Mendoza - Vineyards
Salta - Natural Scenery | Macroeconomic Indicators | GDP: | US$ 353 billion (2010) | Per Capita Income: | US$ 8870 | GDP growth rate: | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 9.2% | 0.71% | 6.5% | 8.7% | 8.4% | 9.2% | 9.0% | 8.8% | | Inflation: | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 12% | 12% | 9% | 10% | 9.8% | 12.6% | 7.9% | 3.7% |
According to independent estimates, the inflation rates are much more than the official figures given here. | Foreign Reserves: | US$ 52.5 billion (Dec 2010) | Exchange rate:1 US $ TO Peso | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 4.00 | 3.97 | 3.80 | 3.32 | 3.15 | 3.07 | 2.90 | 2.92 | 2.97 | | Foreign Debt in Billion US Dollars: | US$ 119 billion (Dec 2010) | Foreign Trade: | Year | Exports | Imports | 2010 | 84 | 48 | 2009 | 68 | 33 | 2008 | 71 | 57 | 2007 | 56 | 45 | 2006 | 46 | 34 | 2005 | 40 | 28 | 2004 | 34 | 21 | | Main Sources of Imports | Country of Origin | US$ (BN) 2010 | Share (%) | Brazil | 14.7 | 30 | China | 6.9 | 14 | USA | 5.2 | 12 | Germany | 2.7 | 7 | Mexico | 1.7 | 4 | Italy | 1.2 | 2.5 | Japan | 1.2 | 2.5 | Spain | 0.9 | 2 | | Top Ten Imports of Argentina | Products | US$ in Billion (2010) | Share (%) | Vehicles and Autoparts | 8.7 | 18 | Equipment and Machinery | 7.3 | 15 | IT and other High Tech products | 6.3 | 12 | Petroleum and Minerals | 4 | 9 | Organic Chemicals | 2.1 | 4.5 | Plastics | 2 | 4 | Pharmaceuticals | 1.4 | 2.7 | Iron and Steel Products | 1.2 | 2.5 | Inorganic Chemicals | 1.1 | 2.3 | Optical Instruments | 1 | 2.1 | | Main Destination of Exports (2010) | Destination | US$ (BN) | Share (%) | Brazil | 15.2 | 18 | China | 7.9 | 9 | Chile | 5.3 | 7 | USA | 4.4 | 5 | Spain | 3.5 | 4 | Netherlands | 3.1 | 3.5 | Germany | 2.3 | 3 | Italy | 2.2 | 2.7 | India | 2 | 2.3 | Uruguay | 1.8 | 1.8 | | Top Ten Exports of Argentina (US$ Billion) | Products | US$ in Billions | Share (%) | Soybean meal | 9.8 | 13 | Vehicles and Autoparts | 8 | 9 | Oilseeds | 7.7 | 8.5 | Edible oils | 5.5 | 6.5 | Crude oil and minerals | 4 | 4.5 | Corn | 3.5 | 4 | Gold | 1.7 | 2 | Fish and Poultry | 1.4 | 1.8 | Meat | 1.2 | 1.6 | Steel tubes | 1.1 | 1.5 | | Minimum Wage | Pesos 1440 | Overview of the Market | Argentina is the third largest market in Latin America with a GDP of 353 billion dollars, after Brazil and Mexico. It has the potential to be one of the richest countries in the region as well as in the world. In fact, it was among the top ten richest countries of the world in the early twentieth century. It is now in the process of reconfiguring its market and mindset to become a prosperous country again. Argentina is an agricultural power. It produces 100 million tons of food products and exports more than 50 million tons. Argentina is the second largest producer of agricultural commodities and livestock after USA. It is a large exporter of wheat, soya and meat. It is the world’s largest exporter of soy oil and sunflower oil, the second largest exporter of corn, third largest producer of beef , soybeans and biodiesel and fourth largest of wheat. Argentina is the fifth largest producer of wine in the world.Argentine Agribusiness is modern, large-scale and globally competitive. While in USA and EU, agro-exports are subsidized, the Argentine government imposes an export tax for some commodities and still the exports are competitive.Argentina is using at present only 32 million hectares for agriculture. They can easily double the area of cultivation and volume of production. Argentina has a large area -almost equal to that of India- with a variety of fertile soils and climates. There are abundant water resources. Most of the agriculture is rain fed. There are no irrigation canals and ground water pumps as in India. The climate is congenial without extremes. It ranges from the warm northern parts to the cold Patagonia in the south lending itself for growing different crops. The famous Pampa region of Argentina, the vast fertile plains, is one of the most productive regions in the world. Most of the farming is done in a commercial scale by large landowners holding thousands of hectares. Most of the farms are managed by professionals who have studied agronomy. They are supported by an excellent network of research and development laboratories. Argentina has developed an efficient infrastructure, logistics and network for transportation and shipping. The river ports around Rosario connect to the grain silos and agro processing plants. The food processing industries of Argentina are one of the most advanced in the world and globally competitive. For example, the oil crushing capacity of Argentina is the third highest in the world- even ahead of Brazil- with the latest technology and plants. The commercialization of agribusiness is done by well established Commodity Exchanges specializing in cereals and other agro products in Buenos Aires and Rosario.Thus it is evident that Argentina is well-placed to become a global agricultural power in the coming decades in which food shortage is going to be one of the main concerns of the world.Argentina is self-sufficient in energy and a net exporter of oil and gas. It produces 800,000 barrels per day of crude oil of which 300,000 are exported. It has two billion barrels of reserves. Off-shore exploration has only now been started and the land area is under-explored. Argentina is the second largest gas producer (50 billion cubic metres) in Latin America and exports to Chile. The Argentine manufacturing industry is relatively large and diversified. It is strong in food processing, automobiles, auto parts, engineering, metallurgy, pharmaceuticals and biotechnology. Argentina is a pioneer in the world in the development and use of CNG technology. Some Argentine companies are globally competitive in pharmaceuticals, biotechnology, CNG technology, hydroelectric power machinery and niche engineering fields. Argentina has significant reserves of gold, silver, zinc, uranium, copper, phosphate and iron. The mineral resources have not yet been fully explored yet.Argentina has a population of 40 million which is a homogeneous stock of European origin – mainly from Spain and Italy- speaking a single language and belonging to one faith (Catholic). There are no ethnic, linguistic, religious strifes. The literacy rate is 97 per cent and the human resources have a range of good quality skills. The Indian companies operating in Argentina employing 1500 Argentines are impressed and happy with the quality of human resources and the range and depth of the Argentine skill sets. There is a strong base of expertise in science and technology including in IT and nuclear energy. Many Multinational Corporations including MTV use Argentina as the centre of creative work and production for the Spanish- speaking world. IBM and other IT companies have established off-shore centres of software development, BPOs and KPOs.Argentina was one of the most developed countries in the beginning of the twentieth century. It had the earliest railroads, metro and industrial development. Buenos Aires city was built like the Paris of Latin America with elegant parks, public buildings, apartment blocks, theatres, cafes, restaurants and bars. Even now Buenos Aires stands out as the most well organized, elegant and stylish city of Latin America. Argentina has the most sophisticated and beautiful country clubs and golf and ski resorts in the region.Argentina celebrated its 25th anniversary of the restoration of democracy in 2008. In this period, democracy has been established firmly and irreversibly. The democratic institutions and practices have taken strong roots. In the last seven years (after the 2002 crisis), the macroeconomic fundamentals of the economy have become strong and stable. The economy has become more resilient and less vulnerable to external shocks. This is evident from the fact that the Argentine market has withstood the global financial crisis with only moderate adverse impact. This has been recognized and commended by external observers, including IMF and World Bank. The Argentines have put an end to the curses of hyper inflation, excessive external debt and drastic fluctuations in exchange rates. The Argentine economy is now poised to sustain its stability and growth in the long term. The Argentines from all walks of life, including political leaders, businessmen, and professionals have, now a new mindset, especially after the historic 2001 crisis. There is greater discipline, restraint and pragmatism in place of adventurism and experiments which characterized policies of the government and the business practices in the past. Policy-makers and the people in general are now looking towards the future with confidence, hope and vision. This is in contrast to the days of hyper-inflation and crises when day-to-day survival was the biggest worry. The stability and growth of the Argentina has been reinforced by its membership of MERCOSUR, the regional group formed with Brazil, Uruguay and Paraguay. Argentina has access to the larger market of Mercosur and benefits from the integration process. It is also attaching importance to its integration in the new South American group called as UNASUR (South American Union of the 12 countries). Argentina has world's third largest shale gas reserves. According to a April 2011 report of the US Department of Energy, Argentina has 774 trillion cubic feet ( tcf ) of technically recoverable reserves which is the third largest in the world. China has the largest reserves of 1275 tcf followed by USA with 862 tcf. Commercial production has already started in USA where shale gas is considered as the ¨Game Changer¨in the gas market of USA. In China, shale gas project is a priority in the current five year plan.Most of the shale gas find in Argentina is in the patagonian region where oil and gas are produced already. The Argentine shales are said to be two or three times thicker than the North American ones. This means production volume could be higher. At present Argentina is producing natural gas and is supplementing it with imports from Bolivia. Shale gas could be a Game Changer for Argentina too. Many foreign companies are already making moves. Exxon Mobile has already acquired a block. Repsol, Petrobras, Total and Apache are making entries.IFFCO of India has invested 25 million dollars in a Canadian company Americas Petrogas which has a shale gas block in Argentina. They are looking for financial and technological partners for exploration and production. | Agribusiness | During 2010 area under crops was 32 million hectares. Soy is the main crop and accounts for 16.6 million hectares. Wheat is planted in 5.6 million hectares, Maize in 4 million hectares and Sunflower in 2.6 m hectares.

The heart of agriculture in Argentina is “the Pampas”, the vast, fertile plains covering the provinces of Buenos Aires, La Pampa, Santa Fe and Cordoba. Rosario is the centre of agri-business with its agro-processing plants and river port close to the production areas.
There is no restriction on foreign investment in land in Argentina. A number of foreign corporations and individuals own thousands of hectares of cropland, cattle ranches, vineyards and forests.
Total production of grains and oilseeds is about 100 million tons. More than fifty per cent of the production is exported. * Soy - 49 million tons (local consumption insignificant) * Corn - 22 m tos * wheat - 15 m tons ( domestic consumption 5 million tons ) * sunflower seeds - 4 m tons * sorghum - 3 m tons Agricultural practices of Argentina are large scale and modern. 70% of the agricultural land is leased by companies and individuals who do professional and commercial farming. 90% of the land is under “direct seeding cultivation”. Under this innovative method, the land is not ploughed for seeding. The residue of the previous harvest is allowed to be absorbed by the land and seed is inserted into the earth by a special machine without ploughing . This method is better for soil conservation, preservation of moisture and organic matters and for prevention of soil degradation.
The minimum size of land for viable farming is 2,000 hectares. Farmers and Farming companies generally outsource services such as seeding, spraying of pesticides, fertilizers and harvesting.
Soy yield per hectare is 3-4 tons per hectare. Corn yield per hectare is 10 tons. wheat yield is around 4.3 tons.
Argentine companies have started producing bio-diesel from soy. 2010 production capacity was 1.8 million tons which is being increased to 2.5 million tons by 2011. Argentina is the largest exporter of bio-diesel in the world. Most of the bio-diesel is exported to the United States and Europe.
Argentina has the third largest capacity for oil processing in the world with 155,000 tons per day. Share of processing: Cargill- 16.6% , Bunge - 15.2% , AGD - 13.4% , Molinos Rio - 12.4%. Argentina has overtaken Brazil which has a capacity of 140,000 tons a day. China processes 220,000 tons followed by USA with 170,000tons.

Largest agro-commodity exporters are: Cargill-16 million tons, Bunge-10 m tons, Dreyfus-8 m tons, AGD-5.7 m tons, AMD-5.2 m tons.Argentina has a cattle population of 50 million and exports half a million ton of meat annually. Argentine per capita consumption of 60 kilo per year of meat is the highest in Latin America. There are 23 million sheep and 5 million pigs. Argentina has an international reputation for thoroughbred and polo horses. The horse population is 3.3 million. | Wine | Argentina is the fifth largest producer of wine in the world with a production of 1.5 million litres. There are 230,000 hectares of vineyards. Mendoza province accounts for 70 percent of production. The second largest production is in San Juan and the third in Salta provinces.
The total number of vineyards are 26130 and wineries 1331.
The industry was earlier focussed on domestic consumption which is 40 litres per head per year, sixth in the world ahead of Spain. Wine exports have been increasing in recent years, reaching 1 bn dollars in 2010. Besides wine, Argentina exports Must and table grapes.
Malbec is the signature wine of Argentina. | Energy | Argentina is self-sufficient in energy and has surplus petroleum for exports. Total oil reserves are about 2 billion barrels. Annual production is about 800,000 bpd of which 300,000 bpd is exported. Still there are underexplored and unexplored areas for oil. While the Provincial governments are the owners of oilfields, ENARSA, the Federal state oil company controls all the off-shore areas. Off-shore exploration has just started in 2008. The Spanish company Repsol and Brazilian Petrobras are the major oil producers.
It is the second largest gas producer (50 bn cu mts) in Latin America. Total reserves are estimated to be 620 bn cu mts. It exports gas to Chile. Argentina has the world's third largest shale gas reserves of 774 tcf
Argentina is a pioneer and largest user of CNG technology. Argentine companies have been exporting CNG conversion kits and technology to many countries. Galileo, a leader in Argentina in CNG sector has supplied technology and equipments to India.Argentina has lot of potential to develop wind energy. Currently only 30 mw is produced. But there are plans to produce 1200 mw by 2016. | Minerals | Argentina has significant reserves of gold, silver, zinc, uranium, copper and iron. Mineral exports are around 2 billion dollars. Most minerals are found in the provinces of Mendoza and San Juan on the Andean mountain side. | Industry | The Argentine manufacturing industry is relatively large and diversified. It is strong in food processing, automobiles, auto parts, consumer goods, pharmaceuticals, paper and metallurgy.
Argentina ’s industrial production include : * 660,000 automobiles * 5.1 million tons of steel * 465,000 tons of aluminium * 1.2 million tons of paper * 1.9 million tons of sugar * 170,000 tons of PVC * 540,000 tons of polyethylene In 2008, 743,000 motorcycles were sold in Argentina, 9% more than in 2007 . Only 50,000 units (7%) were of national production, another 33% (245,000) were locally assembled and the other 447,000 were imported complete from China (most of them), Brazil, Japan and Taiwan | Autoproduction by companies in 2010 | * Peugeot –Citroen 140000 * General Motors - 110000 * Ford - 95000 * Toyota - 85000 * Volkswagen - 72000 * Fiat – 57000 60 percent of automobiles produced in Argentina are exported. Forty percent of parts used in vehicle manufacturing plants in Argentina are locally made. | IT: | The IT sector has started growing in recent years. It employed about 50,000 people and had a turnover of 2.5 billion dollars in 2009 increased from 300 million dollars in 2006 to over 500 million dollars in 2009. The Argentine software industry´s ambition is to increase turnover to 7 billion dollars by 2016 including exports of one billion dollars and employment to 150,000 people. | Pharmaceuticals | The Argentine pharmaceutical market is valued at 4.2 billion dollars. There are 110 laboratories in the country, of which 17 are international laboratories and the rest are national. Market leaders are Bayer, Bagó and Roemmers. Foreign companies have a share of 54% of the market while the local companies control 46%. Exports in 2010 were 800 million dollars. Most of the exports go to Latin America.The top ten pharma companies are :
Roemmers, Bagó, Ivax Argentina, Gador, Elea, Sanofi Aventis, Bayer, Montpellier, Pfizer and Phoenix.

The Argentine regulatory agency ANMAT allows import of pharmaceuticals only from 26 countries mentioned in the Presidential Decree 150 of 1992. Since India is not in this list, imports are not possible. The Government of Argentina has been requested to include India in their list. However, Argentine companies import substantial quantities of bulk drugs from India. | Textile Industry | Latest information on Argentine Textle Industry and Argentine imports of Indian Textiles. | Infrastructure | Railways: 32.000 km. Argentina was the first country to establish railways in Latin America. But the system needs rehabilitation and modernisation. Main Ports in Argentina: Buenos Aires, Rosario, Santa Fé and Bahia Blanca.Argentina has river navigation for ships which can go upstream to Paraguay and Bolivia. Rosario is the major river port and is the major centre of agro exports. | Customs and taxation: | As member of Mercosur, Argentina follows the Common External Tariff which is an average of 15 per cent. Maximum duty is 20 per cent. But there are a number of exceptions. Sales tax ( IVA) is 21 per cent. Corporate tax is 35 per cent and Income tax is between 9 and 35 per cent. Export taxes on agro-products range from 5 to 35 per cent. | Investment promotion | “Prosperar” is the Argentine government’s Investment Promotion Agency.
Information in English is given in their website:
Another source for information on Investment in English | Banking | The banking sector of Argentina after having gone through the turmoil during the crisis in 2002 is now on a more stable foundation through better regulatory measures, reforms and mergers.Top ten banks (in the order of their ranking)1. BANCO DE LA NACION ARGENTINA www.bna,com,ar
10. BANCO | Part II | India - Argentina Business | Bilateral TradeBilateral Trade figures for 2011 (in million dollars) | Argentina | | 2011 | 2010 | India´s Exports | 560 | 496 | India´s Imports | 1214 | 2032 | | Argentina | | 2010 | 2009 | India´s Exports | 496 | 342 | India´s Imports | 2032 | 876 | |
(USD in million) Year | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | India’s exports | 496 | 342 | 492 | 384 | 303 | 261 | 160 | 136 | 85 | 151 | 143 | India’s imports | 2032 | 876 | 836 | 859 | 929 | 739 | 567 | 558 | 404 | 446 | 442 |
The trade is very much below the potential. During the visit of the President of Argentina to India in October 2009, the two Governments set a target of 3 billion dollars of bilateral trade by 2012. | Exports from India to Argentina (2010) | Items | In million US $ | Organic chemicals | 164 | Lubricants | 49 | Vehicles and autoparts | 42 | Machinery | 30 | Sound and image divices | 24 | Synthetic Fibers | 18 | Garments | 16 | Bulk drugs | 15 | Dyes | 13 | Iron and steel | 12 | Plastics | 11 | Cotton yarn | 11 | Rubber manufactures | 9 | Optical instruments | 5 | Minerals and gems | 4 | Handicrafts | 3.5 | Carpets and rugs | 3 | Saddlery | 2.5 | Leather products | 2.2 | Artificial jewellery | 1.5 | Inorganic chamicals | 1.2 | | Imports of India from Argentina (2010) | Items | In million US $ | Soybean oil | 1843 | Sunflower oil | 36 | Leather | 30 | Air pumps and compressors | 16 | Sugar | 15 | Corn | 13 | Ferroalloys | 9 | Wool | 7 | Cosmetics | 5.2 | Photography products | 5 | Water pumps | 4.5 | Salt and derivates | 4 | Dyes for leather industry | 3.8 | Precision instruments | 3.6 | Pharmaceuticals | 2 | Iron and Steel | 1.7 | Candies | 1.4 |
Major Argentine edible oil exporters to India * Cargil * Molinos Rio de la Plata * Vicentin * Luis Dreyfus * AGD * Bunge | Exports | Indian exporters are invited to explore the potential for exports to Argentina. There is scope for increasing the volume of items already exported as well as for new items. These are: vehicles, two-wheelers, auto parts, machinery including for sugar industry and railways, solar and wind energy, chemicals, inputs for agriculture, agrochemicals, bulk drugs, dyestuff, textiles and handicrafts.
Indian brands have started making their mark in Argentina. Mahindra Tractors and Royal Enfield Motorcycles were launched in Argentine market in March 2009. Bajaj motor cycles are sold in Argentina. | Imports | India’s imports of soy and sunflower oil as well as copper are expected to increase steadily in the years to come. Wheat would be an import item as and when there is shortfall in Indian production. Argentine companies have been supplying CNG kits to India, wine, wool, leather, olives and dried vegetables and fruits. Argentina has the potential for contributing to India’s food security in future. At present, Argentina is a major source of edible oils for India. According to the Solvent Extractors Association of India (SEA), the requirement of edible oils in 2006 was 12 million tons of which 7 million were produced domestically and 5 million was imported. Imports shot up to over 7 million tons in 2009. In 2010, the requirement of edible oils is expected to increase to 15 million tons and more in the years to come. But the production of oilseeds in India cannot match the demand and India will continue to be a long term importer of edible oils. In this respect, India can count on Argentina as a reliable source. Argentina is the world’s largest exporter of soya oil and sunflower oil. Argentina has the third largest capacity for edible oil processing after China and USA.India has imported wheat from Argentina from time to time, including purchase of 44 million dollars in 2008. Besides edible oil and wheat, Argentina can be a new source of pulses. India imports about 3 million tons of pulses from countries such as Myanmar, Australia, Turkey and Canada. Although. India does not import any pulses from Argentina at present, the Argentine soil is suitable for cultivation of pulses of interest to India. The Argentine agribusiness companies are willing to grow these, attracted by the large and growing market in India.It is advisable for Indian companies to think beyond imports and go in for acquisition of land in Argentina to grow oil seeds, wheat and pulses. There is no restriction on foreign investment in land in Argentina. A number of foreign companies and individuals own thousands of hectares of land. Sterling Group of NRI Sivasankaran has acquired an olive farm of 1700 hectares in the Catamarca province of Argentina. A Non-Resident Indian company ‘Olam’ has leased 17,000 hectares of land in Argentina to produce peanuts. Encouraged by the success of this venture, they are now planning to grow wheat, soya and pulses with additional leasing of land. Land is available in lots of hundreds and thousands of hectares. SEA had sent two delegations to Argentina (also Uruguay, Paraguay and Brazil) in 2006 and 2007 to study the possibility of acquisition of land for production of oilseeds. They have already formed a consortium of 14 companies which proposes to invest in agricultural land in the region. To start with, they have a plan to invest 40 million dollars in Uruguay. Besides SEA of India and STC, private sector groups have also shown interest in acquisition of land in Argentina.India is going to be under more pressure for agricultural land in future. India´s population increases by 15 million every year and it adds a new Argentina (40 million) every 32 months. On the other hand, agricultural land is diminishing because of the increasing use for residential, industrial and commercial purposes. This is in contrast with Argentina which has a small population of 40 million with an area almost equal to that of India. Besides the large area, the Argentine productivity of grains and oilseeds are three times that of India. For example, average yield per hectare of soya in India is 900 kg while the Argentine average is 3 tons. In India, the subsistence farmers with their average land holding of just a few acres are unable to invest and increase productivity significantly. But the Argentine farmers who hold thousands of hectares of land do farming commercially and professionally and are able to invest in innovation and productivity.Argentina can also contribute, to a small extent, to India´s energy security. Argentine oil resources are under-explored. They have 2 billion barrels of discovered reserves and are currently producing 800,000 bpd. They are just starting off-shore exploration and the land area has not been fully explored. Indian oil companies in public and private sector could make entry here. Reliance has formed a joint venture with an Argentine private company Pluspetrol (along with an Australian company Woodside) and their consortium has won concessions in Peru and Bolivia for oil and gas exploration. They are also exploring opportunities in Argentina and in other countries of the region. ONGC Videsh Ltd. (OVL) has signed an MOU with their Argentine counterpart ENARSA and jointly seek opportunities in Argentina and in this region.Argentina is the third largest exporter of bio-diesel in the world. They exported over one million tons in 2008 and are increasing production capacity to 1.6 million tons by 2010. India can also consider imports from Argentina. There are thousands of hectares of land available in the warmer northern parts of Argentina where jatropha can be grown and used to produce bio-diesel. The Indian companies can also invest in commercial forestry in Argentina to take back to India wood and paper pulp which are imported by India regularly. | Shipping | Freight Rates from Mumbai to Buenos Aires:20 foot container: USD 1200
40 foot container: USD 1900Goods can also be transhipped through Durban in South Africa | Investment and joint ventures | There are 13 Indian Companies which have established operations in Argentina. They provide employment to 7000 Argentines. Eight of them are in IT, two in agro-chemicals, one in pharma, one in cosmetics and one in electrical lightning.

TCS has a unit employing 350 Argentines in Buenos Aires and has plans to increase the staff strength to about 1000.

Cognizant has IT and BPO operations employing 230 staff.Aegis Group from India has acquired Argentine BPO company Actionline in 2010 which employs 5,000 people in Buenos Aires, Cordoba, Tucuman and Bahia Blanca. Almost all their clients are local. This is the largest Indian BPO in Latin America.
IREVNA has set up a KPO (Knowledge Process Outsourcing) unit in Buenos Aires for financial and investment research services employing 70 Argentine staff and has plans to expand. WIPRO has an office an Buenos Aires with 20 staff. They have plans to expand. Copal Partners an Indian Financial Research company has established an office in Buenos Aires in the second half of 2010. They have3 plans to hire 50 staff.

Cellent, a Mumbai-based IT company, has bought an Argentine start-up company "Net People" which specializes in software for mobile phones.Prokarma has a centre in Buenos Aires with a local name ABC Consulting employing 100 staff. HCL opened a IT centre in Buenos Aires in 2009. Argentina has the following competitive advantages for BPO, KPO and software development:

1. Argentina has one of the highest literacy rates in Latin America with ample availability of qualified and skilled manpower, some of whom are proficient in English.

2. The cost of operations and salaries are much below to those in Mexico, Brazil and Chile. The local salaries are somewhat closer to Indian salaries in some cases.

3. Indian IT, BPO and KPO companies can offer services to their North American clients in the same time zone to avoid night shift operations in India. The operations in Argentina will complement their operations in India to provide round-the-clock service to the North American clients with 12 hours of service from South America and 12 hours from India.

4. The Buenos Aires City Government as well as other city and provincial governments are developing new technology parks and are giving incentives and facilities for IT companies.

United Phosphorus Ltd (UPL) of Mumbai has acquired three Argentine agrochem and seeds companies and operates four manufacturing units and a R&D unit employing 200 Argentines. The turnover of UPL Argentina is about 80 million dollars and is expected to increase.

Punjab Chemicals and Crop Protection Ltd (PCCPL) has acquired an Argentine company “Síntesis quimica” and operates with two factories in Argentina producing and exporting agro chemicals. Their turnover is about 30 million dollars.

Glenmark has acquired an Argentine pharma company “Servycal SA” which specialises in oncological products. They are setting up a new factory (to be inaugurated in 2011) which will become the global centre of oncological prouducts for the company. They are already exporting to about 30 countries.

Indo Borax Chemicals Ltd has acquired a small Borax mine in Argentina in 2009 and is planning to acquire bigger mines.Godrej has acquired two Argentine cosmetic companies in 2010: Issue Group and Argencos. They produce hair colour and other cosmetic products. They also export to other countries in the region. Havells-Sylvania of India has a business of about 15 million dollars in electrical lamps and lightning equipments. It employs 40 argentines.Reliance has formed a joint venture with an Argentine oil company Pluspetrol (The consortium includes Westwood of Australia) and they have won a concession in Peru for oil exploration and production.

Srishti Group of Kolkota has signed (in 2009) a MoU with the provincial government of Missiones to build a “Vedic Hotel” in the tourist resort of Iguazu.

Ashok Leyland has signed a MoU with Plaza Group of Argentina for joint venture in production of buses and trucks.

Tata Motors is exploring possibilities of joint ventures in vehicle production in Argentina.

Sonalika Tractors has signed a MoU with an Argentine company for tractors and agricultural machinery.ONGC (OVL) has signed a MoU with ENARSA, their Argentine counterpart for possible joint ventures in Argentina for oil exploration.Kirloskar is planning to put up an assembly plant in Argentina for manufacture of pumps.IFFCO the Gujarat based fertilizer cooperative company is in talks with Americas Petrogas of Canada to set up a urea plant using gas produced in La Pampa region of Argentina.

The Embassy would like to recommend to Indian companies investment in agribusiness in Argentina (as well as in Uruguay and Paraguay). Soy, sunflower, pulses, wheat and other food crops can be grown and taken back to India.Wipro products and services including consumer care (Wipro Shikakai, Wipro Baby Soft), branded hydraulic cylinders, products (Wipro branded PCs, laptops, peripherals), and IT (Wipro Technologies and Wipro Infotech). | Non-Resident Indian Companies | ArcelorMittal has acquired the Argentine steel company Acindar and steel distribution company Magjadalani for over 600 million dollars.

Sterling Group of India (owned by NRI Sivasankaran)has acquired a 1700 hectare olive farm in Catamarca Province of Argentina.

“Olam” , a NRI company with headquarters in Singapore has some investment in agribusiness and does trading in groundnut and other agro commodities. They grow peanuts, soya and wheat in 30,000 hectares of land in Rio Cuarto and Salta areas and have plans to increase the acreage. They have acquired 2 peanut processing plants in Rio Cuarto. They have ventured into rice production in Argentina and Uruguay.

There are some Indians who are in textiles business( imports, wholesale and retail ) in Buenos Aires. | Ayurveda | Ayurveda is becoming popular and there are Ayurvedic Spas and massage centres. The University of Buenos Aires has been running postgraduate courses in Ayurveda in collaboration with Gujarat Ayurveda University. Dr Jorge Luis Berra ( is the organiser of these courses. Our Honorary Consul General in Cordoba city Dr. Sergio Suraez ( is also an Ayurvedic expert and teacher. The Department of AYUSH of the Indian Health Ministry has agreed to the proposal of the Embassy to support promotion of Ayurveda in Argentina. There is scope for export of Ayurvedic and herbal products to Argentina. | Argentine Companies in India | Techint, the 18 billion dollar Argentine Group ( steel, energy,engineering) has an office in Thane employing 200 Indian engineers for their projects in Middle East, Asia and Europe.Techint India Pvt. Ltd.,
5th floor, iThink Techno Campus,
Pokhran Road No 2, Thane (W), Maharashtra. IMPSA, the Argentine engineering company, specializing in hydroelectric projects, has opened an office in Gurgaon. They are exploring opportunities for projects as well as supply of power generation equipments such as turbines. They have a manufacturing unit in Malaysia.

Biosidus, an Argentine pharma company, has a proposal to set up a plant in India for production of biotech pharmaceuticals for Indian and Asian markets. They are already exporting over 3 million dollars a year to India.
Bago, the leading Argentine pharma company has an office in Hyderabad for sourcing of bulk drugs run by Vikram Beri. They have a joint venture opeartion with Ranbaxy to market their products in Thailand.
Some Argentine companies have shown interest in investments and joint ventures in India in food processing and autoparts. Entertainment business
Illusion Studios of Buenos Aires in collaboration with Toonz Animation Ltd of Trivandrum produced a cartoon film ¨Gaturro¨ which was a box office hit in Argentina in 2010.
The Argentine musician, Gustavo Santaolalla composed music for the Amir Khan film ¨Dhobi Ghat¨ which was released in January 2011. The Director of the film Kiran Rao is visiting Argentina in March 2011 for the Argentine screenings.
An Argentine director Pablo Cesar is working on a coproduction film ¨Thinking of Him¨ based on the romantic story of Tagore´s encounter with Victoria O´Campo in Buenos Aires. He is looking for an Indian producer. | Argentina-India Chamber of Commerce | The Embassy took the initiative to form this Chamber which was launched in the presence of the Commerce Secretaries of the two countries in June 2008.
Executive Director
Ms. Fabiana Dimase,
Phone- 0341 14482597
E-mail: Website of the Chamber
Web Forum |

Main Barriers:
Import Licensing:
Standards, testing, labeling & certification:
Anti-dumping and countervailing measures:
Export subsidies and domestic support:
Service barriers:
Other barriers:
1. Identifying Physical Challenges & Barriers to Employee Excellence
2. Identifying Time Challenges & Barriers to Employee Excellence
3. Identifying Logistical Challenges & Barriers to Employee Excellence
4. Identifying Knowledge Challenges & Barriers to Employee Excellence

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