Argentina is the second-largest economy in South America after Brazil with GDP (Gross Domestic Product) of 450 billion in US dollars. The most flourishing industries in the region are manufacturing and services. Agriculture dominates the market as the country is blessed with large reserves of natural resources like rich land fit for a variety of crop growth and gas and lithium reservoirs whose mining and export contribute a large deal to the GDP mentioned above.
The country also supports manufacturing in multiple subsectors and many businesses have found ground in Argentina for high-tech establishments. Many of these secondary industries and sub sectors contributing to the GDP have taken a major hit during the pandemic period. The already suffering economy from two years of recession has become weak beyond measure in the time of social restrictions. The government is taking quick actions and planning fiscal costs in terms of social spending and hoping to decrease extreme poverty by helping children and adolescent population alongside businesses.
In terms of technological establishments, the contribution is on the secondary level and different from other countries. The main work of the ICT (information and Communication Technology) in Argentina is the broadband services. As these services have become an essential part of everyday consumers in the country in the last few years, the ICT sector has seen a rise.
With people being forced to stay home in order to secure health, the usage of mobile and broadband services has risen, contributing to the flow of GDP into the nation via this industry while all others were running stale. According to the report by Huawei, the supply and demand in the country is high even after a low rate of good experiences which gives way to hope that the potential to rise is high with the development of the economy.
Cloud computing market in Argentina is only second to broadband services and contributes its fair share into the ICT sector and thus to the economy. Argentina has been an early adopter of cloud services with small and medium businesses leading the charge. A significant step in solidifying the sector is the establishment of data centres for Amazon (the South American base) which has put the country in running with Chile.
The sector’s ROI is nowhere near what other developing countries see but there is establishment and demand, meaning there is scope of rise within Argentina’s market which is a promising landscape for the country’s future.