Outside of South America, Argentina is
probably known more as the birthplace of the Tango and the
romanticized icon Evita Peron. In terms of the country's impact on
global affairs, Argentina is also known by historians as an ally to
Germany and Italy during World War II - having harbored a number of
war criminals - yet in recent years the country has maintained
friendly terms with the United States and South American nations once
considered political and economic rivals. Trade agreements with South
American neighbors have helped Argentina grow as an important
agricultural trade partner.
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| Buenos Aires (Source: Wikipedia) |
As a member of MERCOSUR, one of the
largest free trade zones in the world, Argentina is connected with
Brazil, Paraguay, and Uruguay in a common tax applied to all imports
brought into the continent, yet the majority of inter-group trading
is accomplished with Brazil. While Argentina does not score as high
as other countries globally in terms of gross domestic product, it is
the third largest economy in the continent, bolstered in part by
aggressive growth throughout the twentieth century despite long
periods of inflation.
Today, Argentina relies upon its
agricultural and tourism industries to maintain the economy, with
secondary industries active in mining and construction. Top exports
from Argentina to her primary trade partners - among them Brazil,
the United States, and Chile - include:
- Soybeans - Soybeans and byproducts
are Argentina's largest export crop. Approximately 40 million tons
of soybeans are produced annually, with the majority exported not for
human consumption but for processing into animal feed.
- Cereal grains - Approximately 13
million metric tons of rice, wheat, and other grains are harvested
annually in the country, making Argentina one of the top exporters of
cereal grains in the world.
- Natural gas and petroleum - Despite
an energy crisis early in the 21st century that resulted
in a short of natural gas reserves, this remains a strong export,
high in demand among trade partners.
- Fruits and vegetables - Citrus fruits
are an important crop in the country's agricultural industry, as
well as grapes which are highly prized for wine harvesting.
As Argentina is primarily an
agricultural nation, imports of an industrial nature are very
important to maintain a good balance in the country's industries.
Brazil, the country's main export partner, provides Argentina with
the bulk of their imported goods as well - accounting for nearly
one-third of the overall incoming trade. The United States, China,
and Germany round out the top import partners, all of whom provide
Argentina with the following:
- Machinery - For the processing of
agricultural products, Argentina relies upon the imports of
corresponding machinery.
- Automotive - While Argentina has a
growing automotive industry, the country continues to import popular
brands.
- Electronics - While costs for certain
electronic devices are high - smart phones may go for several
hundred dollars USD or more - these imports are nonetheless
important to help in the modernization of the country.
- Organic Chemicals - Chemical
suppliers from outside the country provide Argentina with needed
materials for a variety of uses, from health to production of goods.
Argentina continues to work toward
building its domestic economy. As a major force in South America,
continued relations with other top trade nations may help increase
awareness of the nation's agricultural assets and in turn boost
other sectors.