Argentina GDP Annual Growth Rate

Last Release

Dec 31, 2022

Actual

1.9

Units In

5.9

Frequency

Quarterly

Next Release

Jun 24, 2024

Time to Release

3 Months 3 Days 16 Hours

Highest	Lowest	Average	Date Range	Source
17.9 Jun 2021	-19 Jun 2020	2.19 %	1994-2022	N/A

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.

Latest Updates

Argentina’s economy shrank by 1.4 percent year-on-year in the three months to December of 2023, compared to market expectations of 1.5 percent contraction and accelerating from a 0.8 percent decline in the September quarter. It was the third straight quarter of contraction led by a sharp fall in manufacturing production (-6% vs -3.6% in Q3); wholesale, retail and trade repairs (-3.9% vs 0.9%) and electricity, water and gas (-5.1% vs 2.5%). On the other hand, the agriculture sector advanced (+6% vs -7.6%) following a historic drought which impacted grain production. On a quarterly basis, Argentina GDP dropped by 1.9% in the fourth quarter after advancing by 2.2% in the previous period.