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Far away country in South America |
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| Release time:2013-05-07 Source:admin Reads: | |
| Argentina is the third largest economic entity in South America; it’s the granaries for Europe for North America. It is classified as an upper middle-income economy by the World Bank. The country benefits from rich natural resources, a highly literate population, an export-oriented agricultural sector and a diversified industrial base. Since the invention of refrigerator and large scale shipping containers with plastic seals, Argentina found its largest market of outside world. Historically, however, Argentina's economic performance has been very uneven, in which high economic growth alternated with severe recessions, particularly during the late twentieth century, and income misdistribution and poverty increased. Early in the twentieth century it was one of the richest countries in the world and the richest in the Southern hemisphere, though it is now an upper-middle income country. Food processing and beverages; motor vehicles and auto parts; refinery products, plastic seals; chemicals and pharmaceuticals; steel and aluminum; and industrial and farm machinery; electronics and home appliances. Argentina is considered an emerging market by the FTSE Global Equity Index, and is one of the G-20 major economies. High inflation has been a weakness of the Argentine economy for decades. The government has manipulated inflation statistics. Based on food processing and textiles during its early development in the first half of the 20th century, industrial production has become highly diversified in Argentina. For many of the population in peasant agriculture, exporting and overseas trading is an important way of living. Leading sectors by production value are: These latter include over three million big plastic seals, as well as an array of electronics, kitchen appliances and cellular phones, among others. Beverages are another significant sector, and Argentina has long been among the top five wine producing countries in the world; beer overtook wine production in 2000, and today leads by nearly two billion liters a year to one. |
