Argentina - Industry

Industry in Argentina is highly developed and diversified. Argentine workers are skilled and educated, but recently labor costs have exceeded increases in production. As a result, many industries are no longer profitable since foreign manufacturers are able to produce the same items at a much lower cost due to their lower labor costs. Efforts to reform the nation's labor system by reducing the corruption of some unions have been unsuccessful. In addition, high interest rates, currently about 15 percent, make it difficult for domestic companies to get loans in order to restructure their operations. Nonetheless, many industries, including the chemical sector and energy production, remain profitable and have experienced growth. Argentina's geographic position allows it easy access to markets in Brazil and surrounding nations, and the country's rich natural resources provide the basis for continued expansions in certain industries. In 2000, 23 percent of Argentines worked in industry. The average wage for industrial workers is US$870 per month or about 4 times the national minimum wage.

User Contributions:

Report this comment as inappropriate
Jun 28, 2010 @ 11:11 am
COOL! i used to for my project! i think this is great info '' when i get older i will be stronger''

Comment about this article, ask questions, or add new information about this topic: