Country profile · South America
Argentina
Argentina is the eighth-largest country in the world, with 45.9 million people in 2025. President Javier Milei, a libertarian economist, took office in December 2023 and cut public spending. Inflation fell from 211.4% in 2023 to 31.5% in 2025. In September 2026 he stepped up Argentina's claim to the Falkland Islands, which Britain has held since 1833.
Where Argentina ranks
All rankings →Which alliances is Argentina in?
All alliances →Disputed territories involving Argentina
All disputed territories →
How does Argentina vote at the UN?
Argentina's voting record →Share of recorded UN General Assembly votes on which Argentina and each country voted the same way, 2025.
Who runs Argentina?
President Javier Milei runs Argentina. An economist and former television pundit, he beat Economy Minister Sergio Massa in the runoff of November 19, 2023, with 55.65% of the vote. In his first speech as president he told the crowd: "There is no money." Milei was born in Buenos Aires in 1970 and played goalkeeper in the youth teams at the Chacarita Juniors football club. When his English mastiff Conan died in 2017, he had the dog cloned and named the clones after economists. His closest adviser is his sister Karina, whom he calls "El Jefe" (the boss). His party, La Libertad Avanza, has the largest bloc in the Chamber of Deputies, 95 of 257 seats, but no majority. Former president Cristina Fernández de Kirchner, the head of the Peronist party, is banned from office for life after a fraud conviction. The next presidential election is due on October 24, 2027.
- La Libertad Avanza 95
- Unión por la Patria (Peronists) 93
- PRO, UCR, provincial parties and others 69
Official portrait (2024): Government of Argentina, Wikimedia Commons, CC BY 4.0
Who are Argentina's allies and rivals?
The United States is Argentina's main ally under President Milei. Before the midterm election of October 2025, President Trump received Milei at the White House and said: "If he loses, we are not going to be generous with Argentina." The US Treasury signed a $20 billion currency swap with Argentina's central bank. Argentina drew $2.5 billion and repaid it by December 2025. A trade agreement signed in February 2026 still awaits ratification by Argentina's Congress. Argentina blames Iran for the 1994 bombing of the AMIA Jewish center in Buenos Aires, which killed 85 people, and in April 2026 it expelled Iran's top diplomat. Relations with Brazil, the largest partner, are the worst since democracy returned in 1983. On July 25, 2026 Milei called President Lula a "thief" at the campaign launch of Lula's rival, Flávio Bolsonaro, and Brazil recalled its ambassador.
Allies and partners
United States$20 billion swap line, October 2025
IsraelMilei promises an embassy in Jerusalem
ItalyGave Milei Italian citizenship, 2024
ParaguayClose ally under President Santiago Peña
ChilePresident Kast backs the Falklands claim
ChinaYuan swap line renewed until 2031
Tensions
United KingdomHolds the Falklands, which Argentina claims
BrazilRecalled its ambassador after Milei insulted Lula
IranArgentina expelled its top diplomat, April 2026
- Falkland Islands Held by Britain since 1833, claimed by Argentina
- Sea Lion oil field Oil field due to start production in 2028. Argentina opened sanctions proceedings against the companies in September 2026.
- Ushuaia Naval base project given new money in September 2026. Ships to Antarctica sail from here.
- Chinese space station Deep-space antenna run by China's military space agency, on land leased for 50 years in 2012.
- Argentina
- Partner
- Tensions
Who does Argentina trade with?
Brazil is Argentina's largest trade partner (chart). It bought 14.7% of Argentina's exports in 2025 and supplied 24.3% of its imports. China supplied 23.7% of imports but bought only 11.2% of exports, leaving Argentina with an $8.16 billion deficit. Soybeans and the meal and oil made from them were a quarter of exports. Argentina is the world's largest exporter of soybean meal and of soybean oil. Crude oil output reached a record of about 927,000 barrels a day in August 2026, about 72% of it from the Vaca Muerta shale field. A pipeline to a new Atlantic terminal is due to load its first tanker in December 2026. Argentina mined 7.9% of the world's lithium in 2025, the fifth most. It is also the IMF's largest debtor, owing about $57 billion, 34.1% of all IMF lending.
Buys from
Share of Argentina's imports
- Brazil24.3%
- China23.7%
- United States8.8%
Germany4.1%- Paraguay3.9%
Goods, 2025. Shares of Argentina's exports and imports, as Argentina reported them to UN Comtrade.
How strong is Argentina's military?
Argentina spent $3.9 billion on its military in 2025, 0.6% of GDP, the lowest share of the 58 countries in the site's military spending ranking. The IISS counts about 72,000 active troops. Conscription ended in 1994, after a conscript, Omar Carrasco, was killed at an army base. The navy has had no working submarine since the ARA San Juan sank in 2017 with 44 crew. The 2027 budget asks Congress for permission to borrow $2.3 billion for three French Scorpène submarines. Britain refuses export licenses for goods that would strengthen Argentina's military. This blocked a purchase of Swedish Gripen fighters, which have about 30% British parts, so Argentina bought 24 used F-16s from Denmark in 2024. Twelve had arrived by September 29, 2026. Argentina has no nuclear weapons. It joined the Non-Proliferation Treaty in 1995 and runs three nuclear power plants.
Military spending as a share of GDP, 2025
Full ranking →
Colombia3.2%- United States3.1%
- United Kingdom2.4%
- Chile1.5%
- Brazil1.1%
Mexico0.7%- Argentina0.6%
SIPRI Military Expenditure Database, 2026 edition
Why does Argentina claim the Falkland Islands?
Argentina says it inherited the islands, which it calls the Malvinas, from Spain, and that Britain took them by force in 1833. Argentina's military government invaded on April 2, 1982. The 74-day war killed 649 Argentine soldiers, 255 British soldiers and 3 islanders, and the defeat led to the end of military rule. The islands had 3,662 residents in 2021, and in a 2013 referendum 99.8% voted to stay British. In 2023 President Milei praised Margaret Thatcher, Britain's prime minister during the war, as one of "the great leaders in the history of humanity." On September 3, 2026 he said the islanders have no legitimate right to self-determination. He ruled out force, but announced sanctions on companies working on Sea Lion, an oil field north of the islands. The three largest oil service companies said they will not work there. President Trump said on August 31 that he was reviewing the US position, which has been neutral since 1982.