Argentina: gross domestic product (GDP)

By New Statesman Published 29 February 2012

GDP growth (annual %), Argentina from Timetric

 

The above graph demonstrates the annual percentage growth rate of GDP at market prices based on constant local currency from 1961 to 2010. As the graph illustrates, the lowest GSP of -10.89 occurred in 1991, while the highest of 12.67 occurred in 2002.

Argentina’s economy went into freefall during 1999 to 2002, with a 10.9 per cent GDP contraction in 2002, because its 1:1 peg of the Argentine peso to the US dollar combined with government over-spending, proved unsustainable. This triggered a debt crisis. In 2002, the economy bottomed out, with real GDP 18 per cent smaller than in 1998.

Real GDP rebounded to grow by an average 8.5 per cent annually over the subsequent six years, taking advantage of previously idled industrial capacity and labor, an audacious debt restructuring and reduced debt burden, excellent international financial conditions, and expansionary monetary and fiscal policies.

 
 

2 comments

Joanne Goldstein's picture

Thu, 2012-07-26 17:08 — Joanne Goldstein (not verified)

It is well within the rights of anyone to make a complaint that they feel is worthy of discussion. What truly determines the conversational value of a topic is whether or not anyone responds to it. In essence, it is only my response (and future responses) that validate your words here projekty rodinnych domov. If no one reads and no one cares, then you might as well have been speaking to yourself.

Andrew Chapman's picture

Wed, 2012-06-13 20:20 — Andrew Chapman (not verified)

This is quite a good article. Many new questions emerge to the surface, all you need do is to read further information about the issues. Only then one can form a final view on a particular subject. Otherwise everything is seen only in the dimension of cum more black and white. The natural logic of evaluating things before they were properly cognitively processed is a horrible mistake, made by those less intelligent. People should not throw away their common aquaparky sense easily. Anything and everything deserves appropriate time for making judgements.

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