Economic history of Argentina rate never went above 10%, and the country largely recovered by 1935. However, the Depression permanently halted its economic expansion. Actually, much like other developing countries, the economy was already in a downturn beginning in 1927, a result of declining prices. Argentina abandoned the gold standard in December 1929, earlier than most countries. For much of the previous period, the country had operated a currency board, in which a body known as the caja de conversión was charged with maintaining the peso's value in gold. The devaluation of the peso increased the competitiveness of its exports and protected domestic production.
Forestry in Argentina last 15 years. The reasons behind this growth include: During the 1990s, Argentina was a net importer of forestry products with high value-added (i.e. paper, cardboard, furniture, etc.) and a net exporter of primary and low value added goods (i.e. wood, cellulose pulp). This situation has changed especially after the currency devaluation in 2002 and foreign investment during the 1990s. Now, the country has begun producing a number of high value added products such as fiberboards and finished products such as furniture. Argentina is now in a position to become an important producer of forest products in the future. The