Argentina has a market-oriented economy with abundant natural resources, a well-educated population, an export-oriented agricultural sector and a relatively diversified industrial base.

The nation’s services sector accounts for around 59% of the economy and 72% of employment, manufacturing is 21% of GDP and 13% of employment. Agriculture is 9% of GDP, with 7% of employment; constructon, mining, and public utilities divide the rest. Agriculture, including processed goods, provided 54% of export earnings in 2010 however, while industrial manufactures accounted for 35% (energy staples and metal ores were most of the remainder).

High inflation has been a weakness of the Argentine economy for decades. Officially hovering around 9% since 2006, inflation has been privately estimated at over 20% and is becoming a contentious issue again. The urban income poverty rate has dropped to 18% as of mid-2008 — a third of the peak level observed in 2002, though still above the level prior to 1976. Income distribution, having improved since 2002, is still considerably unequal.

Argentina ranks 106th out of 179 countries in the Transparency International’s Corruption Perceptions Index for 2009. Reported problems include both government and private-sector corruption; the latter of which include money laundering, trafficking in narcotics and contraband, and tax evasion.

The Kirchner administration responded to the Global financial crisis of 2008–2009 with a record public-works program, new tax cuts and subsidies, and the transfer of private pensions to the social security system. Private pension plans, which required growing subsidies to cover, were nationalized to shed a budgetary drain as well as to finance high government spending and debt obligations.

Argentina has, after its neighbour Chile, the second-highest Human Development Index and the highest GDP per capita in purchasing power terms in Latin America. Argentina is one of the G-20 major economies, with the world’s 27th largest nominal GDP and the 22nd largest by purchasing power.

The country is classified as upper-middle income or a secondary emerging market by the World Bank.