GDP in Argentina
Argentina - GDP
GDP growth improves in Q2
GDP growth gathered momentum to 6.9% year on year in the second quarter, from 6.0% in the first quarter.
Fixed investment growth improved to 18.8% in Q2, from a 10.6% increase in the prior quarter. Public spending accelerated to a 5.3% increase in Q2 (Q1: +5.0% yoy). Meanwhile, private consumption growth eased to 10.7% yoy in Q2 compared to a 10.9% expansion in Q1, due to souring consumer sentiment and elevated inflation.
Growth in exports of goods and services sped up to 9.3% in Q2 (Q1: +8.9% yoy). Conversely, imports of goods and services growth moderated to 23.1% in Q2 (Q1: +26.8% yoy).
On a seasonally adjusted quarter-on-quarter basis, economic growth edged down to 1.0% in Q2, compared to the previous period's 1.2% growth. Q2's reading marked the slowest expansion since Q2 2021.
Activity is expected to cool in H2, as downbeat consumer sentiment coupled with a further spike in inflation hit private consumption. Moreover, political uncertainty will restrain private sector activity. That said, a timely implementation of the recent IMF deal poses an upside risk.
FocusEconomics analysts see the economy expanding 2.6% in 2022, up 0.2 percentage points from the previous month’s forecast. In 2023, analysts see growth of 1.9%.
Argentina - GDP Data
|Economic Growth (GDP, annual variation in %)||2.7||-2.1||2.7||-2.5||-2.2|
5 years of economic forecasts for more than 30 economic indicators.
Argentina GDP Chart
Source: National Statistical Institute (INDEC) and FocusEconomics calculations.
|Bond Yield||6.69||0.15 %||Dec 17|
|Exchange Rate||59.88||0.45 %||Dec 30|
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November 24, 2022
Merchandise exports plummeted 11.5% over the same month last year in October (September: -2.2% year-on-year).
November 24, 2022
The monthly indicator for economic activity (EMAE) expanded 4.8% in year-on-year terms in September, which followed August's 6.6% increase.
November 17, 2022
Inflation came in at 88.0% in October, up from September’s 83.0%.
November 9, 2022
Industrial output expanded 4.2% compared to the same month of the previous year in September, which was a deterioration from August's 7.8% increase.
November 4, 2022
On 20 October, the Central Bank of Argentina (BCRA) decided to keep the LELIQ rate unchanged at 75.00%, deeming the current level of the LELIQ rate sufficient to support the peso and limit inflation and inflation expectations. The Bank stood pat on the basis that core inflation data for September turned out better than expected, with the month-on-month variation standing at 5.5%, lower than the 6.2% month-on-month increase in headline inflation.