Benefiting from rich natural resources, a highly literate population, a diversified industrial base, and an export-oriented agricultural sector, the economy of Argentina is Latin America's third-largest, and the second largest in South America. A middle emerging economy and one of the world's top developing nations. Leading sectors by volume were: food processing, beverages and tobacco products; motor vehicles and auto parts; textiles and leather; refinery products and biodiesel; chemicals and pharmaceuticals; steel, aluminum and iron; industrial and farm machinery; home appliances and furniture; plastics and tires; glass and cement; and recording and print media.