ECONOMICS

Argentina’s economy, which is one of the more powerful in the region, is dependent on services and manufacturing, although agribusiness and ranching dominated the economy for much of the 19th and 20th centuries. Argentina still produces more grain than any other country in Latin America and is second in cattle raising only to Brazil, and its receipts from tourism are second in the region only to those of Mexico. Its gross national product (GNP), GNP per capita, and value added from manufacturing are also among the highest in the region. However, the country has withstood a number of economic downturns, including periods of high inflation and unemployment during the late 20th century and a major financial crisis in the early 21st century.