Argentina Market
Argentina's economy is expected in 2011
Dakar Rally in the roar of cars, people of Argentina welcome the "hot" in 2011: Argentina's economy is expected to continue in the new year of high growth. According to Argentina's "horn" reported recently, Argentine entrepreneurs optimistic about 2011, the national economy index up to 70%, compared with 30 percent in 2010 more than doubled.As a member of the emerging economies, Argentina's economy in 2010 a group of beautiful data ending. According to United Nations Economic Commission for Latin America and the Caribbean, recently released a report, economic growth in South America in 2010 will reach 6.6%, of which Argentina's economic growth rate will reach 8.4 percent, the highest in the forefront of Latin American countries. Buenos Aires securities trade station director Edmund Gaby that Argentina's economy is "growth in Asia."
Last year, Argentina's economic recovery with unexpected speed, with the exception due to its economic structure adjustment and greatly stimulated the development of agriculture and manufacturing, but also the changes in the pattern and the world economy is closely related. A number of economic statistics agency released a report from China and Brazil and other major trading partners, strong demand is A driving force of economic growth.
Agriculture, automotive industry and metallurgy industry is A three pillars of the economy. Last year, Argentina's agricultural harvest, soybean production reached a record 55 million tonnes, compared with 70% increase the previous year, exports also increased by 134%. International commodity prices continued to rise as well as from China and other countries, big purchases, bringing tangible for the local foreign exchange earnings. In addition, the strong domestic market demand, coupled with a large number of purchase A Nissan Brazil, to Argentina's automotive industry and metallurgy industry to create a rare development opportunity. It is predicted that in 2011 A vehicle production will reach 840,000. As of November 2010, A car manufacturing output rose 43%, metallurgy industry output increased 36.6%. Last year, these three industries A total economic contribution of more than 50%.
Global Economic Prospects 2011, as one of the best, Argentina is also facing some problems can not be ignored, in which the parties most concerned about inflation. Argentine economist and research institutions predict, A last year's rate of 25% inflation to 30%, 11 month rate is as high as 40%. Significantly in recent months there has been increasing trend in inflation, the central bank put into circulation A field of 100 pesos largest denomination notes increased significantly. Some economists suggested the central bank issued 200 pesos or 500 pesos a larger denomination notes, etc., but because of fears that it will lead to more serious inflation expectations, the Argentine central bank has refused. Gaby said, the Argentine economy growing quickly, but slower than the growth rate of investment, relative to recent years, an average of 7-9 percent economic growth, investment in less than 1% over the same period the growth rate appeared to be very uneven, which is likely to be new round of inflation. Significant increase in inflationary pressures, will inevitably generate sustained economic growth in Argentina constraints.
In fact, serious inflation has affected all aspects of economic life in Argentina, rising oil prices that is a microcosm of serious inflation. August 2010, the Argentine government issued the ban oil prices. However, it is because crude oil prices rose too much, the government recently forced to cancel the ban. Number of oil companies immediately raised to varying degrees, oil prices, consumers feel of pressure.