Customs Duty Calculator

Argentina – Important Facts

Argentina officially the Argentine Republic is a federal republic located in south eastern South America. Sharing the bulk of the Southern Cone with its neighbour Chile to the west, the country is also bordered by Bolivia and Paraguay to the north, Brazil to the north east, Uruguay and the South Atlantic Ocean to the east, and the Drake Passage to the south. With a mainland area of 2,780,400 km2 (1,073,500 sq mi), Argentina is the eighth-largest country in the world, the second largest in Latin America, and the largest Spanish-speaking one. The country is subdivided into twenty-three provinces and one autonomous city, Buenos Aires, which is the federal capital of the nation as decided by Congress. The provinces and the capital have their own constitutions, but exist under a federal system.

Argentina was the top performer in the region in reducing poverty and boosting shared prosperity between 2004 and 2008. Incomes of the bottom 40% grew at an annualized rate of 11.8% compared to average income growth of 7.6%. This trend continued but slowed after 2008. As of 2014, 12.7% lived in poverty, defined as living on under $4 a-day. A third of the population lives on between 4 and 10 dollars a day and remains at risk of falling back into poverty.

The country prioritized social spending through various programs, including the Universal Child Allowance, which reaches approximately 3.7 million children and adolescents up to age 18, 9.3% of the population. The primary deficit expanded to 5.4% of GDP in 2015, up from 3.8% in 2014. The Government has announced plans to reduce the primary deficit to 4.8% of GDP by the end of this year, 3.3% by 2017, 1.8% by 2018 and 0.3% by 2019.

Important Details

  • Country ISO3: ARG
  • Country Code: 32
  • Income Group: Latin America & Caribbean
  • Lending Category: Not classified
  • Region: IBRD
  • Currency Unit: Peso
  • WTO Member: YES
  • Trade organisations WTO, Mercosur, Unasur
  • world rank: 169
  • Regional Ranking: 27th in the South and Central America/Caribbean Region