|State system||presidential republic|
|Head of State||Alberto Fernandez|
|Head of government||Alberto Fernandez|
|Currency name||Argentine peso (ARS)|
|Time shift||-4 hours (in summer -5 hours)|
|Nominal GDP (billion USD)||564,277|
|Economic growth (%)||10.2|
The name, which is derived from the Latin word “argentum” – silver, has been used by the country since 1860. Argentina is a land of many riches, although silver is not one of them, as the first Spanish colonizers thought when they named the country. This metal was found later and to a much greater extent in the north – in Bolivia and Peru – but the name has already remained in Argentina.
Argentina represents a moderately important partner in Latin America for the Czech Republic in the long term. The country is in demand for industrial products, and the main positions in its exports are occupied by items related to agriculture and food production. Argentina is the fifth largest trading partner of Czech companies within the Latin American region. The reason for the untapped potential in trade exchange is the harsh protection measures aimed at imports.
Argentina is an agricultural country and is also very rich in mineral resources. This is also reflected in the structure of exports: 25% of sales come from the export of primary products, 45% of exports are processed agricultural or food products, and 29% of exports are associated with industrial production. The main items are food for human and animal consumption, cereals, automobiles and parts, edible fats and oils, mineral fuels, meat, pearls and precious metals, seeds, chemicals, nuclear reactors and boilers, plastics. For its development, Argentina must import mainly capital goods, because the domestic industry does not produce many products and machines at all. Capital goods therefore account for 19% of all imports. Goods for further processing represent 35% of imports, consumer goods 13%, fuels and lubricants 10%.
In addition to high inflation, whose annual rate exceeded 50% even in 2021 and is still one of the highest in the world, the country has to contend with a falling domestic currency and a strict foreign trade regime. Argentina’s economic situation is reflected in the everyday life of its citizens. Already 43% of Argentines are below the poverty line, child poverty reaches an unprecedented 63%.
Despite the current economic situation, there are opportunities for Czech companies that want to gain a foothold in Argentina. The future is mainly engineering, considering Argentina’s preference to produce the largest possible range of goods locally. Considering the potential of agricultural production, another promising field is agricultural machinery and smart technologies applied in agriculture. Huge reserves of mineral wealth are found in Argentina. In addition, the vast majority of these deposits have not yet been explored and therefore offer a huge scope for foreign investors in the mining and quarrying industry. Space for innovation and new technologies is also offered in sectors that will be necessary for economic growth in the short term: biotechnology, petrochemicals, healthcare, IT, etc.
Basic information about the territory
- System of governance and political tendencies in the country
- Foreign policy of the country
The system of governance and political tendencies in the country
Argentine Republic (República Argentina)
Cristina Fernández de Kirchner
federal republic of the presidential type
the president elected for a four-year term with the possibility of renewing the mandate once, the president is both head of state and head of the government cabinet
bicameral National Congress; Chamber of Deputies: 257 deputies, Senate: 72 senators
Supreme Court (9 judges), federal courts, provincial courts
- every two years a third of the total number of senators is elected for six years; MPs are elected for a period of 4 years, with half of the total number of MPs being elected every 2 years, and elections to the provincial executive and legislature are held (but not in all provinces at the same time)
President Alberto Fernández of the left-wing Peronist coalition Frente de Todos is increasingly confronted by growing anti-government sentiment. Fernández initially presented himself as a moderate, gradually his ideological direction is approaching so-called Kirchnerism (the left-wing, populist FdT faction under the leadership of Vice President Cristina Fernández de Kirchner). Check diseaseslearning to learn more about Argentina political system.
Thanks to an agreement with private creditors and the 2022 agreement with the IMF, the country has avoided another state bankruptcy, but Argentina’s debt is still enormous, making large investments in the country impossible. The country desperately needs investment (both public and private). Both the state and private factories use very outdated technologies, industrial products are not competitive in the world. Due to the absence of fundamental structural reforms, a significant improvement in the economic situation is not expected in the near future.
Foreign policy of the country
Argentina’s markedly left-wing orientation and a noticeable departure from the course of the previous Macri government in terms of foreign-policy partners remain. Argentina is wary of accepting Nicolas Maduro’s controversial way of governing, but does not consider his regime a dictatorship. The Argentine side even revoked the credentials of Ambassador Elisa Trotta, who was appointed by Juan Guaidó. Check themotorcyclers for Argentina defense and foreign policy.
Relations with China and Russia are deepening, which were further strengthened by successful vaccine diplomacy. Although Argentina, after some hesitation, condemned Russian aggression in Ukraine, an increase in foreign direct investment from these two countries can be expected in the future. Argentina is considering the construction of a nuclear power plant in cooperation with China. Investments from Europe and the USA, on the other hand, have a downward trend due to the unstable economic environment.
According to the 2010 census, Argentina had a population of 40,117,096. The estimate for the year 2022 is 45,500,000 inhabitants, and the population growth should last until at least 2025. For the year 2060, the population is estimated to increase to 60 million inhabitants. Argentina would thus surpass Colombia in terms of population and become the third most populous country in Latin America (after Brazil and Mexico).
In its history, Argentina has gone through several waves of immigration, especially in the period 1870-1930, when people came mainly from Italy, Spain, Germany, Central Europe, the Middle East and partly from Japan. During the 20th century, European immigration practically stopped. On the contrary, migration from other countries in the region began to grow, mainly from Paraguay, Bolivia and Peru, which continues to this day. The turn of the 20th and 21st centuries saw an increase in the arrival of the Chinese, who quickly became the fourth largest ethnic group in Argentina. The Venezuelan crisis has caused a massive influx of residents there, unofficial estimates speak of 150,000 arrivals.
Average population density:
- 1inhabitants per km2 (in the three Patagonian provinces, however, below 3 inhabitants/km2). The share of the economically active population is 44.1%
Average annual increase in the population and its demographic composition:
- annual population increase 0.99% (birth rate 16.5/1000 inhabitants, death rate 7.5/1000 inhabitants
- average life expectancy 77.5 years (7men – 80.5 women)
- Argentinians (95%), Spanish, Italians, Germans, Venezuelans, Bolivians, Chileans, Paraguayans, Peruvians
- Argentina has a large Jewish minority (estimated around 500,000), Armenians are also influential
- Catholic (90% reported, but 20% practicing), Protestant (3%), Jewish (2%), Muslim (2%)
Official language and other most commonly used languages:
- The official language is Spanish. In Buenos Aires it is sometimes possible to communicate in English, within individual immigrant communities also in Italian and German. In addition, in some provinces the native population speaks Indian languages (mainly Guarani and Quechua).