Gross Domestic Product Growth

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3 Gross Domestic Product Growth GDP Growth Rate 2 5 Latin America Developing Asia China Developed Aisa Western Europe 5-5 Data Source: WB, ADB, IMF, and Bloomberg

4 GDP Growth in Latin America GDP Growth Rate 5 All countries enjoyed positive growth rate Argentina Chile Mexico Venezuela 9 92 Brazil Colombia Peru Data Source: WB, IMF, and Bloomberg

5 Human Development Indicator HDI..9 Latin America Developing Asia Developed Asia Western Europe Data Source: UN

6 Human Development Indicator.9.8 China India Latin America Data Source: UN

7 Income Distribution vs. Income Level Gini Coefficient (Y-axis) vs. GDP per Capita (X-axis) China Latin America Developed Asia India Developing Asia Pakistan Japan Western Europe U.S. Data Source: WB, 2, 3, 4,

8 Gini Coefficient Changes in Inequality over the Past two Decades China Latin America India Developed Asia Data Source: WB

9 Income Distribution % of Income 5 4 Latin America Developing Asia China Pakistan U.S. Developed Asia Western Europe India Japan 3 2 Data Source: WB Lowest % Highest %

10 Percentage Share of Consumption the Wealthiest % 2 Brazil Colombia Chile Mexico Argentina Malaysia Venezuela Philippines Data Source: WB and ADB Peru Hong Kong Thailand Cambodia India Singapore Lao US China Vietnam Indonesia Pakistan Korea Japan

11 Proportion of Population under $ a Day India Lao Viet Nam China Peru Venezuela Data Source: WB & ADB Philippines Colombia Pakistan Brazil Mexico Indonesia Chile Korea Malaysia Thailand

12 Share of Merchandise Export % 8% Others Fuel Food Raw Materials Manufactures Data Source: WB 6% 4% 2% % Latin America China India Japan U.S.

13 Scorecard of Economic Reforms in Selected Latin American Countries Argentina Brazil Chile Colombia Mexico Peru Venezuela Public Finance Tax/budget reform Exchange rate Financial market Trade opening FDI liberalization Labor reform 2 Pension reform 3 2

14 Scorecard of Economic Reforms in Selected Latin American Countries (continued) Argentina Brazil Chile Colombia Mexico Peru Venezuela Privatization Deregulation Property rights 3 Basic needs 3 Infrastructure 2 Good laws/courts 3 Good institutions 3 Total score /45 8/45 43/45 4/45 2/45 5/45 /45

15 Personal Computers per, People India Data Source: WB Developing Asia Sub-Saharan Africa China Middle East & North Africa Latin America Developed Asia Japan

16 Latin America s Financial System World Total Percent of Total Accounted for by: China Japan United States Latin America Population 6. billion GDP $3. trillion Bank Assets $36.9 trillion Equity Market Capitalization $27.8 trillion Bonds Outstanding $3.6 trillion

17 Percentage of Total Assets of Three % Largest Commercial Banks China Latin America Developed Asia Japan U.S. Data Source: MI

18 Country Risk Very Low Risk Low Risk Moderate Risk High Risk Singapore Japan Hong Kong Korea Malaysia Chile China Thailand Mexico Vietnam Philippines Peru India Brazil Colombia Indonesia Pakistan Venezuela Argentina Data Source: ICRG

19 Country Risk 9 Very Low Risk Low Risk Moderate Risk High Risk Japan Developed Asia China India Developing Asia Latin America Pakistan Data Source: ICRG

20 Argentina IN THE PATH TO GROWTH Presentation by Jose Octavio Bordón Ambassador of the Argentine Republic to the US Los Angeles, April 24

21 ARGENTINA

22 One Country, Many Landscapes

23 Argentina Today Recovery started in the second quarter of 22, and there have been six consecutive quarters of growth for the first time since 997

24 Argentina Today Poverty descended from around 55% (May 23) to 47.8% Industrial activity grew 6.2% and construction 37.8% last year Inflation was 3.7% in 23 and currently is 2.4%

25 Fiscal Sector As from May 22, the deficit in fiscal accounts was reversed as a result of public spending stabilization and increased tax collection Surplus in the first quarter of 24: 3,989.3 mill. pesos, three times the amount agreed with the IMF

26 Financial Sector

27 Financial Sector

28 Unemployment 25% 2% 5% % 5% % May '85 May '86 Apr. '86 Unemployment Rate May. '87 May. '88 May. '89 May. '9 May. '9 May. '92 May. '93 May. '94 May. '95 May. '96 May. '97 May. '98 May. '99 May. ' May. ' May. '2 May. '3

29 Argentine Exports by Destination 23 (%) 4 9 MERCOSUR MIDDLE EAST (9 %) (3 %) 7 3 NAFTA EUROPEAN UNION (2 %) (4 %) CHILE (2 %) 4 ASEAN, Korea, China, Japan e India (7 %) REST ALADI (4 %) 2 2 OTHERS ( %) Source: Argentine National Institute of Statistics and Census

30 Argentine Exports by Destination 23 European Union Mercosur Of which Brazil NAFTA Of which USA Chile China Andean Community ASEAN Middle East Japan Rest of the World Total Million U$S 5,882 5,55 4,65 4,46 3,34 3,46 2,443,49, ,4 29,35 Source: Argentine National Institute of Statistics and Census In %

31 Argentine Imports by Origin 23 (%) MERCOSUR NAFTA CHILE (9 %) (2 %) (37 %) EUROPEAN UNION (2 %) 2 ASEAN, Korea, China, Japan, India REST ALADI (3 %) ( %) 2 9 OTHERS (8 %) Source: Argentine National Institute of Statistics and Census

32 Argentine Imports by Origin 23 Million U$S In % Mercosur of which Brazil European Union NAFTA of which USA China Japan Chile ASEAN Andean Community Middle East Rest of the World Total 5,58 4,7 2,79 2,558 2, ,66 3, Source: Argentine National Institute of Statistics and Census

33 Argentine Exports by type of Goods 23 (%) 8 22 PRIMARY PRODUCTS (22 %) MANUFACTURES OF AGRICULTURAL ORIGIN (34 %) MANUFACTURES OF INDUSTRIAL ORIGIN (26 %) FUELS & ENERGY (8 %) Source: Argentine National Institute of Statistics and Census

34 Argentine Exports by Category 23 (%) CAPITAL GOODS (8 %) INTERMEDIATE GOODS (45 %) FUELS (4 %) 6 PARTS OF CAPITAL GOODS (6 %) 4 45 CONSUMER GOODS (3 %) VEHICLES (4 %) Source: Argentine National Institute of Statistics and Census

35 Trade Balance U.S. Argentina US $ MILLIONS 5 EXPO IMPO BALANCE Source: U.S. International Trade Commission

36 U.S. Argentina Trade Imports for Consumption/Domestic Exports - in millions of dollars - US Exports US Imports US Balance Total Trade 22,496 3,2 -,75 4, ,232 3, ,327 PERCENTAGE CHANGE 23/22 US Exports US Imports US Deficit Total Trade 49,2-3,6-49,2 3,2 ARGENTINA s SHARE IN TOTAL US TRADE In US Exports In US Imports 22 23,24%,34%,28%,25% Source: U.S. International Trade Commission

37 U.S. Argentina Trade - in millions of dollars Arg. Exports Arg. Imports Arg. Balance Total Trade 22 2,869,788,8 4, ,34 2, ,266 PERCENTAGE CHANGE 23/22 Arg. Exports Arg. Imports Arg. Surplus Total Trade 23/22 5,7 24,8-25,9 3, US SHARE IN TOTAL ARGENTINE TRADE In Arg. Exports In Arg. Imports 22 23,2%,3% 9,9% 6,2% Source: Argentine National Institute of Statistics and Census

38 U.S. Imports from Argentina US $ MILLIONS AGRICULTURAL NON-AGRICULTURAL Source: U.S. International Trade Commission

39 U.S. Imports from Argentina MAIN CHAPTERS (HTS) US $ MILLIONS 87-Vehicles and parts 44-Wood/Charcoal 3-Fish/Crustaceans 29-Organic Chemicals Furniture 72-Iron and Steel 2-Vegetable/Fruit Prep. 76-Aluminum 4-Raw Hides/Skins Petroleum Oils/Residues Source: U.S. International Trade Commission

40 U.S. Exports to Argentina MAIN CHAPTERS (HTS) US $ MILLIONS 3-Pharmaceutical Prod. 98-Special Clasif. 38-Misc. chemical prod. 3-Fertilizers Vehicles and parts 9-Optical, Photo aparatus 39-Plastics 85-Electric Machinery 29-Organic Chemicals Machinery/Mec. Appliances Source: U.S. International Trade Commission

41 Argentina s Active Role in Trade Negociations Multilateral: World Trade Organization (WTO) Hemispheric: FTAA Regional: MERCOSUR - Intra-Mercosur (economic integration: not only trade) - Mercosur trade negotiations with trading partners Bilateral: - US-Argentina Trade & Investment Council has become a very useful tool to address bilateral issues.

42 Argentina s Export Offer World known for agricultural and food products, both conventional and organic. Other agricultural and industrial manufactures, well known among traditional customers, have regained competitiveness and show increasing demand based on excellent price/quality ratio. Over 82% of Argentina exports to US are non-ag.

43 Argentina s Ranking as U.S. PRODUCT Supplier of Food Products WORLD RANKING GRAPE JUICE PEARS PEANUTS APPLE JUICE 2 ITALIAN TYPE CHEESE 2 FRUIT & VEGETABLE JUICES 3 RED MEATS, PREPARED/PRESERVED 3 TEA 4 TOBACCO 4 ESSENTIAL OILS 5 CANDIES 5 ARGENTINA IS ALSO AMONG THE WORLD U.S. SUPPLIERS OF: FISH; HONEY; CANE SUGAR; FRESH VEGETABLES; WINE AND BEER; WOOD PRODUCTS; SHRIMPS AND PLANTING SEEDS

44 Argentina is Among the Top Ten World Producers of Major Commodities COMMODITY EXPORTS ARGENTINA S WORLD RANK WHEAT COARSEGRAINS 7 SOYBEANS 3 SOYMEAL 3 SOYOIL 3 SUNFLOWER SEED 2 BEEF 4 Source: Economic Research Service, USDA.

45 Argentine Educated Work Force Qualified human resources based on high education level and availability of latest infrastructure and technology result in Argentine exports of value added products and services. Design, IT products and services, Educational services, Biotechnology, etc.

46 Argentina in the Knowledge Era Systemic competitiveness. Holistic but at the same time specific vision. Moral but pragmatic attitude. Better skills than tools. More behavior than skills.

47 Final Comments Main risk of the Globalization process: inequality Approach to Globalization must be done from the point of view of the human being Values: freedom, peace, democracy, human rigths, environment and capitalism with social justice From politics: multilateralism, open regionalism and responsible leadership

48 President Kirchner Administration Commitment. Institutional quality 2. Good administration 3. Officialism with institutional leadership and without hegemony

49 In Brief A new leadership for a new era. WE HAVE A CHALLENGE AND A SOCIAL, FISCAL AND INTERNATIONAL RESPONSIBILITY IN A NON CONFLICT SCENARIO

50 EMBASSY OF ARGENTINA Washington D.C.