RIO DE JANEIRO, BRAZIL – A study conducted by Focus Market that took into account labor hours showed that the average salary in Argentina, measured in dollars is the worst in Latin America (after Venezuela) when it comes to buying a computer, a cell phone, or a television.
To buy a 15.6-inch notebook with 8 gigabytes of RAM, the average salary in Venezuela takes 531 working days (more than 2 years with 22 working days per month), while in Argentina, it takes 105 days (more than 4 months with 22 working days per month). In Brazil, it takes 91 days.
At the other end of the scale are Uruguay with 51 days and Chile with 50 working days.
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“Average wages of Argentines, measured in dollars, have recovered compared to 2020 due to an appreciation of the official exchange rate against inflation trends. However, domestic prices of durable goods, included in the basket considered in this report, have increased by an average of 75% per year, well above the evolution of average wages in the same period, which were in the order of 43%,” said Damian Di Pace, director of the consulting firm Focus Market.
In this sense, he noted that “in Argentina, it takes more days to acquire the same goods compared to other countries in the region.”
The report highlighted that it takes 220 days to purchase a 64-gigabyte cell phone in Venezuela (10 months with 22 working days per month), 60 days in Argentina (more than 2 months with 22 working days per month), while at the other end of the scale are Uruguay with 24 days and Chile with 20 days for an average salary. In Brazil, it takes 33 days.
In the case of buying a 43-inch smart TV, the study shows that it takes 168 days in Venezuela (7 months with 22 working days per month), 31 days in Argentina (more than 1 month with 22 working days per month), while it takes 19 days in Uruguay and 15 days in Chile. In Brazil, it takes 29 days.
“Given the number of days that an Argentine worker will have to spend to purchase the same goods in 2021 compared to the rest of the region, the government has increased taxes on the same basket of goods that it decides to finance the purchase.
In cell phones, televisions, PC monitors, air conditioners and microwave ovens, and other products manufactured locally, 6.5% tax will have to be paid domestically. In comparison, products coming from abroad will have to pay 17%,” Di Pace concluded.
To calculate the days required to purchase the various goods in each country, the consultant used the respective average wage based on 22 working days per month. The average net salary of the selected Latin American countries was also taken into account, according to the Statista source.
In the case of Argentina, the dollar’s value on the day this report was prepared was set at 180, while in the case of Venezuela, an average salary of US$60 was used as a basis.