Argentina Economic Activity March 2021


Argentina: Economic activity rebounds on a low base effect in March

May 21, 2021

On an annual basis, economic activity jumped 11.4% in March (February: -2.1% yoy), thanks to a low base effect as March 2020 was the first month of the Covid-19 pandemic. A massive turnaround in the fishing sector as well as much faster expansions in the manufacturing, construction and trade sectors led the rebound.

On a monthly basis, economic activity dipped 0.2% in March, following February’s sharper 0.9% contraction. Meanwhile, the trend improved, with the annual average variation of economic activity coming in at minus 7.7% from February’s minus 9.6%.

FocusEconomics analysts see the economy growing 4.5% in 2021, unchanged from the previous month’s forecast. In 2022, analysts see GDP expanding 2.6%.

Author: Massimo Bassetti, Senior Economist

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Argentina Economic Activity Chart

Argentina Economic Activity March 2021

Note: Year-on-year changes and annual average growth rate of monthly economic activity in %.
Source: Argentina National Statistical Institute (INDEC) and FocusEconomics calculations.

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