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 Today its vineyards cover 490,000 acres (210,000 hectares), down from a previous high of 700,000 acres (300,000 hectares). Though still only fifteenth as an exporter, Argentina is the world's fourth largest producer and by far the largest producer in South America. It makes approximately the same amount of wine as the United States, about 1.7 billion liters (449 million gallons), or roughly five times the output of Chile.
Though its recovery will be a labor of many years to come, Argentina has a fine potential and hopes for a larger place in the world market, as only 13% (350 million liters, or 92.5 million gallons) of its production is currently sold abroad. In the last ten years, increasing foreign and domestic investment have begun to reconstitute the industry in a modern mold, and world commerce has doubled.
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