Markets Actual Q1 Q2 Q3 Q4 2022
Currency 89.81 91.5 93.29 95.1 96.96 101
Stock Market (points) 48920.68 43520 38716 34440 30639 23037

Overview Actual Q1 Q2 Q3 Q4 2022
GDP Growth Rate (%) 12.80 1.1 2.3 1.7 1.3 1.3
GDP Annual Growth Rate (%) -10.20 2.6 15 7 5.5 2
Unemployment Rate (%) 11.70 13.1 12.7 12.5 12.3 10
Inflation Rate (%) 38.50 39 40 41 43 38
Inflation Rate Mom (%) 4.00 2.8 2.5 2.3 2 1
Interest Rate (%) 38.00 36 36 36 36 34
Balance of Trade (USD Million) 1068.00 200 1120 900 200 200
Current Account (USD Million) 1163.00 -1500 -2000 -2500 -2750 -4000
Current Account to GDP (%) -0.80 1 1 1 1 -0.4
Government Debt to GDP (%) 89.40 95 95 95 95 93
Government Budget (% of GDP) -3.80 -6.3 -6.3 -6.3 -6.3 -5
Consumer Confidence (points) 37.80 40.2 41 41.3 41.5 42.4
Corporate Tax Rate (%) 30.00 35 30 30 35 35
Personal Income Tax Rate (%) 35.00 35 35 35 35 35

GDP Actual Q1 Q2 Q3 Q4 2022
GDP Growth Rate (%) 12.80 1.1 2.3 1.7 1.3 1.3
GDP Annual Growth Rate (%) -10.20 2.6 15 7 5.5 2
GDP (USD Billion) 449.70 425 425 425 425 437
GDP Constant Prices (ARS Million) 613801.00 647376 698042 656767 647560 660511
Gross Fixed Capital Formation (ARS Million) 113850.00 95995 87520 121820 120112 122514
GDP per capita (USD) 9729.14 9200 9200 9200 9200 9500
GDP per capita PPP (USD) 22033.95 21700 21700 21700 21700 22000
Economic Activity Index (%) -2.20 7 6.5 6 5 -1.6
GDP From Agriculture (ARS Million) 34766.19 35000 35000 35000 35000 35000
GDP From Construction (ARS Million) 16084.08 17908 11694 17210 16969 17308
GDP From Manufacturing (ARS Million) 106091.27 95202 101034 113518 111926 114165
GDP From Mining (ARS Million) 19204.89 21516 20455 20549 20261 20666
GDP From Public Administration (ARS Million) 29976.77 34029 33346 32075 31625 32258
GDP From Services (ARS Million) 82148.03 78771 81836 87898 86666 88399
GDP From Transport (ARS Million) 44758.46 54222 52834 47892 47220 48165
GDP From Utilities (ARS Million) 12685.33 13053 13161 13573 13383 13651

Labour Actual Q1 Q2 Q3 Q4 2022
Unemployment Rate (%) 11.70 13.1 12.7 12.5 12.3 10
Employed Persons (Thousand ) 10658.00 9590 9650 9800 9900 11000
Unemployed Persons (Thousand ) 1415.00 1450 1440 1430 1420 1370
Employment Rate (%) 37.40 33.8 34.1 34.5 35 37.8
Labor Force Participation Rate (%) 42.30 39 39.7 40 41 44
Wages (ARS/Month) 61221.00 76712 62438 86242 37111 77786
Minimum Wages (ARS/Month) 20587.50 20600 20600 20600 20600 21000
Population (Million) 44.94 45.8 45.8 45.8 45.85 46.3
Wage Growth (%) 1.60 1.1 1.5 1.7 1.4 1.4

Prices Actual Q1 Q2 Q3 Q4 2022
Inflation Rate (%) 38.50 39 40 41 43 38
Inflation Rate Mom (%) 4.00 2.8 2.5 2.3 2 1
Consumer Price Index CPI (points) 401.51 425 451 489 552 762
Producer Prices (points) 654.40 701 605 616 1122 1122
Export Prices (points) 151.80 155 156 156 156 156
Producer Prices Change (%) 40.30 36 34 32 30 25
CPI Housing Utilities (points) 375.75 451 459 485 531 733
Cpi Transportation (points) 422.91 439 461 504 578 798
Food Inflation (%) 42.10 40 38 40 40 34
Core Inflation Rate (%) 39.40 43 44 45 45 40
Inflation Expectations (Percent) 44.00 35 35 35 35 35

Money Actual Q1 Q2 Q3 Q4 2022
Interest Rate (%) 38.00 36 36 36 36 34
Interbank Rate (%) 30.20 45 15.71 13.71 13.71 13.71
Deposit Interest Rate (%) 34.28 25 25 25 25 25
Central Bank Balance Sheet (USD Million) 11866402.45 13500000 12710000 11850000 11580000 10950000
Foreign Exchange Reserves (USD Million) 33910.00 38900 40800 42000 46000 50000

Trade Actual Q1 Q2 Q3 Q4 2022
Balance of Trade (USD Million) 1068.00 200 1120 900 200 200
Current Account (USD Million) 1163.00 -1500 -2000 -2500 -2750 -4000
Current Account to GDP (%) -0.80 1 1 1 1 -0.4
Imports (USD Million) 3908.00 4030 4400 4350 4200 4400
Exports (USD Million) 3544.00 5150 5300 5400 5600 5600
External Debt (USD Million) 272852.02 282000 284000 286000 288000 290000
Capital Flows (USD Million) 1222.79 -2100 -1700 -2000 -2800 -3100
Foreign Direct Investment (USD Millions) 86.61 54 57 60 80 100
Tourist Arrivals 7367.00 4500 5000 8000 10000 25000
Gold Reserves (Tonnes) 61.74 60.58 60.58 60.58 60.58 60.58

Government Actual Q1 Q2 Q3 Q4 2022
Government Debt to GDP (%) 89.40 95 95 95 95 93
Government Budget (% of GDP) -3.80 -6.3 -6.3 -6.3 -6.3 -5
Government Budget Value (ARS Million) -307627.50 -18825 -120000 -80000 -18825 -18825
Government Spending (ARS Million) 90825.00 93322 99845 97183 95820 97737
Government Revenues (ARS Million) 837104.50 700000 720000 740000 755000 700000
Military Expenditure (USD Million) 5337.00 5350 5350 5350 5450 5450
Tax Revenue (ARS Million) 772859.82 520000 490000 480000 470000 470000

Taxes Actual Q1 Q2 Q3 Q4 2022
Corporate Tax Rate (%) 30.00 35 30 30 35 35
Personal Income Tax Rate (%) 35.00 35 35 35 35 35
Sales Tax Rate (%) 21.00 21 21 21 21 21
Social Security Rate (%) 43.70 43.7 43.7 43.7 43.7 43.7
Social Security Rate For Companies (%) 26.70 27 26.7 26.7 27 27
Social Security Rate For Employees (%) 17.00 17 17 17 17 17

Business Actual Q1 Q2 Q3 Q4 2022
Industrial Production (%) 4.90 6 10 -1.8 1 1
Industrial Production Mom (%) 3.50 1 0.8 1.5 1.4 1.3
Capacity Utilization (%) 58.40 57.3 57.8 58.1 58.5 59.8
Changes in Inventories (ARS Million) -19819.00 -12000 -6000 -1500 1500 3000
Car Production (Units) 24308.00 27200 27700 28200 29000 32000
Car Registrations (Thousand) 27.30 34 36 38 36 40
Leading Economic Index (%) -0.80 5.7 3.4 0.7 0.3 1

Consumer Actual Q1 Q2 Q3 Q4 2022
Consumer Confidence (points) 37.80 40.2 41 41.3 41.5 42.4
Retail Sales YoY (%) 5.10 28 40 35 17 13
Consumer Spending (ARS Million) 408287.00 484144 478384 436867 430743 439358
Households Debt To GDP (% of GDP) 5.00 5.2 5.2 5.2 5.2 5.4
Gasoline Prices (USD/Liter) 0.82 0.78 0.74 0.7 0.67 0.63

Housing Actual Q1 Q2 Q3 Q4 2022
Housing Index (SQ. METRE THO) 517.71 620 680 700 720 770
Construction Output (%) 27.40 20 25 7 5.8 1.7


This page has economic forecasts for Argentina including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Argentina economy.