Argentina’s GDP contracted by 0.8 percent year-on-year in the third quarter of 2023, more than market forecasts of 0.7 percent and slowing from a 4.9 percent decline in the previous quarter. It marked the second consecutive contraction as a historic drought continued to impact grain production. The agriculture sector led with a sharp contraction (-7.6% vs -40.2% in Q2), followed by construction (-0.1% vs 1.8%), manufacturing (-3.7% vs -1%), transport and communications (-0.2% vs -3.7%), and financial services (-1% vs -3%). While expansions eased for mining (5.9% vs 6.3%). source: Instituto Nacional de Estadística y Censos (INDEC)

The Gross Domestic Product (GDP) in Argentina contracted 0.80 percent in the third quarter of 2023 over the same quarter of the previous year. GDP Annual Growth Rate in Argentina averaged 2.11 percent from 1994 until 2023, reaching an all time high of 18.80 percent in the second quarter of 2021 and a record low of -18.90 percent in the second quarter of 2020. This page provides the latest reported value for - Argentina GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Argentina GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on February of 2024.

The Gross Domestic Product (GDP) in Argentina contracted 0.80 percent in the third quarter of 2023 over the same quarter of the previous year. GDP Annual Growth Rate in Argentina is expected to be 1.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Argentina GDP Annual Growth Rate is projected to trend around 2.00 percent in 2024, according to our econometric models.

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Argentina GDP Annual Growth Rate


Calendar GMT Reference Actual Previous Consensus TEForecast
2023-09-19 07:00 PM
GDP Growth Rate YoY
Q2 -4.9% 1.3% -4.8% -5.0%
2023-12-15 07:00 PM
GDP Growth Rate YoY
Q3 -0.8% -4.9% -0.7% -1.0%
2024-03-20 07:00 PM
GDP Growth Rate YoY
Q4 -0.8% 1.6%


Related Last Previous Unit Reference
GDP Growth Rate 2.72 -2.84 percent Sep 2023
GDP Annual Growth Rate -0.80 -4.90 percent Sep 2023
GDP Constant Prices 721353.00 734207.00 ARS Million Sep 2023
Gross Fixed Capital Formation 163118.00 159384.00 ARS Million Sep 2023
Full Year GDP Growth 5.20 10.30 percent Dec 2022
GDP from Utilities 13209.27 12526.83 ARS Million Sep 2023
GDP from Transport 54289.27 55094.32 ARS Million Sep 2023
GDP from Services 97940.13 99174.05 ARS Million Sep 2023
GDP from Public Administration 35867.32 35663.22 ARS Million Sep 2023
GDP from Mining 26267.49 25581.70 ARS Million Sep 2023
GDP from Manufacturing 122612.92 122966.11 ARS Million Sep 2023
GDP from Construction 23620.86 22415.76 ARS Million Sep 2023
GDP from Agriculture 31595.92 50534.97 ARS Million Sep 2023
Economic Activity Index 12.80 11.80 percent Aug 2021

Argentina GDP Annual Growth Rate
Argentina is the third largest economy in Latin America. The services sector is the most important and accounts for 64 percent of total GDP. The biggest segments within Services are: wholesale and retail trade and repairs (14 percent of total GDP); transport, warehousing and communications (12.2 percent); real estate (12 percent); education, health and social services (7.2 percent) and financial intermediation (7 percent). Industry constitutes 25 percent of the GDP and the largest segments within this sector are: manufacturing (16 percent of total GDP); construction (5 percent) and electricity, water and gas distribution (3 percent). The government fuels 7 percent of the GDP and the agriculture and fishing sector accounts for the remaining 4 percent of GDP.
Actual Previous Highest Lowest Dates Unit Frequency
-0.80 -4.90 18.80 -18.90 1994 - 2023 percent Quarterly

News Stream
Argentina GDP Contracts for 2nd Quarter
Argentina’s GDP contracted by 0.8 percent year-on-year in the third quarter of 2023, more than market forecasts of 0.7 percent and slowing from a 4.9 percent decline in the previous quarter. It marked the second consecutive contraction as a historic drought continued to impact grain production. The agriculture sector led with a sharp contraction (-7.6% vs -40.2% in Q2), followed by construction (-0.1% vs 1.8%), manufacturing (-3.7% vs -1%), transport and communications (-0.2% vs -3.7%), and financial services (-1% vs -3%). While expansions eased for mining (5.9% vs 6.3%).
2023-12-15
Argentina GDP Growth Shrinks for the 1st Time Since 2020
Argentina’s GDP contracted by 4.9 percent year-on-year in the second quarter of 2023, more than market forecasts of 4.8 percent and easing from a 1.3 percent growth in the previous quarter. It marked the first contraction since Q4 2020 as a historic drought has hammered grain production. The agriculture sector led with a sharp contraction (-40.2% vs -11.9% in Q1), followed by transport and communications (-3.7% vs 6.5%), and electricity, gas and water (-6.3% to 0.08% . While expansions eased for construction (1.8% vs 3.2%); hotels and restaurants (6.4% vs 8.5%); and mining (6.3% vs 11.9%).
2023-09-19
Argentina GDP Growth Eases the Most since 2020
Argentina’s GDP expanded by 1.3 percent year-on-year in the first quarter of 2023, below market forecasts of 1.5 percent and easing from a downwardly revised 1.5 percent growth in the previous quarter. It marked the lowest growth since Q4 2020 as a historic drought that has hammered grains production. The agriculture sector (-11.9% vs -13%) contracted further. while expansions eased for construction (3.2% vs 2.6% in Q4); hotels and restaurants (8.5% vs 22.8%); and transport and communications (6.5% vs 4.8%). On the other hand, mining (11.9% vs 10.9%) and electricity, gas and water (up 0.08% to 4.8%) recorded sharper growths.
2023-06-22