The skyline in Argentina

Argentina Exports

Argentina Exports

Exports in Argentina

The economy of Argentina recorded an average growth rate of 0.2% in exports in the decade to 2022. In 2022, exports growth was 5.8%. For more exports information, visit our dedicated page.

Argentina Exports Chart

Note: This chart displays Exports (G&S, ann. var. %) for Argentina from 2013 to 2022.
Source: INDEC Argentina.

Argentina Exports Data

2018 2019 2020 2021 2022
Exports (G&S, ann. var. %) 0.6 9.8 -17.4 8.5 5.8

Activity declines at a more moderate rate in Q3

GDP slid at a softer rate of 0.8% year on year in the third quarter, above the 5.0% contraction logged in the second quarter. On a seasonally adjusted quarter-on-quarter basis, GDP bounced back, increasing 2.7% in Q3, contrasting the previous period's 2.7% decrease. Q3's reading marked the best result since Q1 2021.

Private consumption growth fell to an over two-year low of 0.3% in the third quarter (Q2: +0.7% yoy), as runaway inflation and downbeat sentiment weighed on spending. Meanwhile, government consumption growth expanded 1.8% (Q2: +3.3% yoy). That said, fixed investment rebounded, growing 0.8% in Q3, contrasting the 1.6% contraction recorded in the previous quarter, partially thanks to a less challenging base of comparison. On the external front, exports of goods and services fell 4.8% on an annual basis in the third quarter, still affected by a severe drought, following the second quarter's 11.2% contraction. Conversely, imports of goods and services growth slowed to 2.6% in Q3 (Q2: +3.1% yoy).

GDP likely continued to contract in Q4, hit by hyperinflation, capital controls, a collapsing peso and skyrocketing interest rates. That said, significant uncertainty surrounds next year’s economic performance due to the wide-ranging reform program advocated by President Milei. The lagged effects of hyperinflation will restrain consumption, but rising exports should cushion the downturn. A shift towards more market-friendly policies is an upside risk in the medium term, but social unrest could delay reforms.

Commenting on the outlook, Itaú Unibanco’s Andrés Pérez and Diego Ciongo stated: “As a result of better-than-anticipated activity data in 3Q23, our 2023 GDP growth forecast of -3.0% now has an upward bias, that is pointing to a smaller annual contraction in 2023. The contraction in economic activity is likely to continue in 2024 with a decline of 2.5%, despite favorable drought-related base effects, as the ambitious stabilization plan addresses Argentina’s severe macro-financial imbalances.”

Consensus Forecasts and Projections for the next ten years

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Argentine exports projections for the next ten years from a panel of 30 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable exports forecast available for Argentine exports.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Argentine exports projections.

Want to get access to the full dataset of Argentine exports forecasts? Send an email to info@focus-economics.com.

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