Argentina’s Gross Domestic Product (GDP) dropped 4.3 percent on an annual basis in the fourth quarter of 2020 after shrinking a revised 10.1 percent in the previous three months and compared to market expectations of a 10.7 percent contraction. The decline was mainly explained by an 8.1 percent contraction in private consumption, contrasting with a 2.6 percent drop in public spending. In contrast, gross fixed investment surged 15.9 percent after falling 9 percent in Q3. Meanwhile, exports sank 32.5 percent whereas imports declined 2.8 percent. On a quarterly basis, GDP expanded 4.5 percent following a 13.1 percent rebound in the third quarter. For the whole 2020, GDP fell 9.9 percent after a 2.1 percent decline in 2019. source: Instituto Nacional de Estadística y Censos (INDEC)
GDP Annual Growth Rate in Argentina averaged 1.78 percent from 1994 until 2020, reaching an all time high of 16.20 percent in the second quarter of 2010 and a record low of -19 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 May of 2021.
GDP Annual Growth Rate in Argentina is expected to be 15.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Argentina to stand at 2.40 in 12 months time. In the long-term, the Argentina GDP Annual Growth Rate is projected to trend around 2.50 percent in 2022 and 1.80 percent in 2023, according to our econometric models.