Argentina Industry Sectors

 Argentina’s industries rest primarily on the agricultural, industrial and services sectors. The agricultural sector is the mainstay of the Argentine economy and a majority of foreign exchange is obtained from this sector. Argentina’s industry sectors are the key contributors to the nation’s GDP. In addition, this sector is the largest sector of the country and employs a large percentage of the workforce. The services sector is another major contributor to the nation’s GDP.[br] 

 Argentina’s industries rest primarily on the agricultural, industrial and services sectors. The agricultural sector is the mainstay of the Argentine economy and a majority of foreign exchange is obtained from this sector. Argentina’s industry sectors are the key contributors to the nation’s GDP. In addition, this sector is the largest sector of the country and employs a large percentage of the workforce. The services sector is another major contributor to the nation’s GDP.[br] 

Argentina Industry Sectors: Retail

Argentina’s retail sales are projected to grow to $214 billion in 2013, from $191 billion in 2008. The efforts of the government to rebuild credit had a positive impact on consumer confidence and helped boost retail sales. Banks and retail houses have increased the issuing of consumer credit and have established more flexible payment options to boost expenditure.

 

Tourism also plays an important part in booting Argentina’s retail sales. In 2008, tourists spent more than $3.3 billion, up by 8% from the previous year. However, due to the global economic recession, tourists spent less than 25% in March 2009, as compared to March 2008.

 

Sales in the retail sub-sectors, such as the food and beverage industries, are expected to reach $58.24 billion by 2013, up from $39.32 billion in 2008. OTC pharmaceutical sales are predicted to reach $530 million by 2013. Consumer electronic sales are expected to grow by 44% to $5.51 billion by 2013, from $3.82 billion in 2008. Automobile sales, however, are expected to decline by 4% during the five year period to $6.56 billion, from $6.81 billion.

 

Argentina Industry Sectors: Biodiesel

The Argentine biodiesel industry has produced more than 100,000 tons of biodiesel in August 2009, after a productive and profitable July 2009. Argentina is the fifth largest producer of biodiesel in the world, after Brazil. Argentine biodiesel production reached more than 1.2 million tons in 2009, and contributed 10% of the total world supply.[br]

 

Argentina Industry Sectors: Automotive

Despite signs of a recovery, the Argentinean automotive industry ended 2009 with a decline from the 2008 levels. According to the Argentinean National Automaker’s Federation, auto makers sold 487,142 units in 2009, down by 20.4% from the 611,770 units sold in 2008. Auto exports also registered a fall of 8% as compared to the 2008 levels due to a shortfall in production by 14.1%. Volkswagen led the market in terms of number of sales, followed by General Motors and Ford. The 2010 outlook projects vehicle production of 640,000 units.