The top five products exported by Argentina are soybean meal, corn, soybean oil, cars and delivery trucks. The top five imports of the country are cars, petroleum gas, vehicle parts, refined petroleum and telephones.Continue Reading
Argentina is the world's leading exporter of soybean meal, soybean oil, bran, sorghum, other vegetable residues and waste, ground nut oil, ground nut meal and tanning extracts. Other major exports include whole soybeans, wheat, crude petroleum, gold, copper ore and vehicle parts. Other major imports include computers, broadcasting accessories, iron ore and pesticides.
Argentina's top trading partners are Brazil and China for both imports and exports. Argentina also exports heavily to Chile, the United States, Spain, Venezuela, Canada, the Netherlands, Germany and Colombia. The country imports heavily from the United States, Germany, Mexico, Trinidad and Tobago, Bolivia, France, Italy and Japan.
Imports of luxury cars have caused trade imbalances in Argentina in recent years, forcing the government to step in and restrict them. In 2011, the government forced car importers to provide an export of equal value, forcing many of them to get into new industries such as processed rice and soy flour. The government placed further restrictions on the import of vehicles in 2014. Auto manufacturers who build a model of car in Argentina, such as Toyota, are exempt from these restrictions.Learn more about Economics
Argentina has a free-market economy heavily based on agriculture and agricultural exports. The country also has growing industrial and service sectors. The quality of life and GDP per capita are relatively high, especially when compared to other countries in Latin America.Full Answer >
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