Economy
Argentina’s economy is the second largest in South America, just behind Brazil. The World Bank (2013) ranked the country’s US$612 billion gross domestic product (GDP) twenty-first globally. The Legatum Institute ranked Argentina’s economy fifty-eighth out of 142 countries on its Economy Sub-Index (2013).
Argentina’s macroeconomic performance in recent years has been strong. Consecutive years of rapid economic growth have reduced poverty and cut unemployment to pre-economic crises of 2001-2002 levels.
Argentina imports $73 billion in goods, mainly intermediate (semi-finished) goods, parts and accessories for capital goods, capital goods, fuels and lubricants and motor vehicles. Its main import partners are Brazil, China, United States and Germany. Exports totaled nearly US$77 billion and include mostly agricultural products, motor vehicles and parts, chemicals and related products and oil and fuels. Top export partners are Brazil, China, Chile, United States and Spain.
Although Argentina showed negative growth in the first quarter of 2014, its GDP is forecast to rise to nearly 3 percent by 2015. The country’s unemployment rate is headed down and is forecast to be below 6 percent next year. Inflation, however, is still a problem and is forecast to stay around 12 percent.
Finding a Job
Since the collapse of Spain’s economy, many workers from that country have immigrated to Argentina and have the advantage of Spanish language fluency.
What can you do? As with any country, if you want to work in Argentina you will need to prepare yourself well for both cultural and business integration and, of course, learn the local language.
Argentina’s major cities offer the best job opportunities, especially Buenos Aires. Job search strategies you can use in Argentina are similar to the U.S. Industry associations are an excellent way to find out about international opportunities in your field. Check job listings in local newspapers, Craigslist in Buenos Aires and both global and local online employment sites. Be sure to send unsolicited applications to targeted employers and contact temporary work or staffing agencies online or onsite. Most importantly, check out local online forums and bulletin boards in the area you have chosen. Locals can be a great source of opportunities.
To get you started, here is a list of websites that may help you in your job search:
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Starting a Business
The World Bank in 2014 ranked Argentina one hundred eighty-first out of 185 countries on its Ease of Starting a Business Index and one hundred twenty-sixth on its Ease of Doing Business Index. Worse, the country dropped in eight of nine key indicators from 2013.
Argentina performed better on the Legatum Institute’s Entrepreneurship and Opportunity Sub-Index (2013), ranking fifty-seventh out of 142 countries.
For an excellent, detailed overview of business opportunities in Argentina, read the Country Commercial Guide for Argentina, which is prepared annually at U.S. embassies through the combined efforts of several U.S. government agencies. The guide presents a comprehensive analysis of Argentina’s commercial environment from economic, political and market analyses.
To help you start and manage a business in Argentina, the World Bank offers this step-by-step guide and detailed report.