Buenos-Aires City Info

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Buenos Aires, Argentina » City Info » Economy

Buenos Aires is one of the largest cities In Latin America. Also, it is a leading financial, industrial, commercial, and cultural hub of the region. The port of Buenos Aires has historical importance, so the people of Buenos Aires city are called portenos (people of the port). Today, this port is one of the busiest ports in South America. The sea-trade activities of the south-eastern region of South America depend on this port, as it is well connected with north-east Argentina, Brazil, Uruguay, and Paraguay by the rivers that flow through the Rio de la Plata.

The agriculture sector also plays a vital role in the economy of the city. The Pampa Humeda, situated to the west of Buenos Aires, is famous as the most productive agricultural region of the country. Various products such as meat, dairy, grain, tobacco, wool, and leather are manufactured or processed in the metro area.

The city is a hub for food-processing businesses that comprise huge meatpacking, refrigeration plants and flour mills. Also, some major industries in the city include automobile manufacturing, oil refining, metalworking, machine-building, textiles, chemicals, clothing, and beverages.

The economy is gradually diverting from an industrialised base to service and technology-oriented activities. This diversified and well-developed service sector of the city shares 78% of its total economy. This sector has got international standards and is always recommended by businessmen from all over the world. Advertising, manufacturing, agriculture, and other industrial sectors also have a prominent position in the city's economy.

In the early years, the locals have earned money from the tourism industry. Nowadays, the tourism industry is booming since Buenos Aires has become a premier tourist destination in Latin America.