GDP in Argentina
Argentina - GDP
Economy grows strongly in Q2 on low base effect
GDP growth gathered significant momentum in the second quarter, accelerating to 17.9% year-on-year from 2.9% in the first quarter, benefiting from a favorable base effect.
The upturn mainly reflected a marked improvement in domestic demand. Private consumption rebounded, growing 21.9% year-on-year in Q2 following a 1.7% contraction in Q1. Government consumption also bounced back, growing 8.2% in Q2 (Q1: -0.1% yoy). Fixed investment growth, meanwhile, sped up to 76.6% in Q2 from 38.7% in the prior quarter, driven by the construction sector.
On the external front, exports of goods and services bounced back, growing 6.3% year-on-year in the second quarter (Q1: -9.9% yoy). Meanwhile, growth in imports of goods and services sped up to 36.6% in Q2 (Q1: +4.9% yoy), marking the best reading since Q3 2010.
On a seasonally-adjusted quarter-on-quarter basis, however, economic activity declined 1.4% in Q2, contrasting the previous period's 2.8% expansion, amid stricter Covid-19 restrictions.
LatinFocus Consensus panelists see the economy growing 4.7% in 2021, which is up 0.2 percentage points from last month’s estimate, and 2.6% in 2022, which is up 0.1 percentage points from last month’s estimate.
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|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
October 8, 2021
Industrial output rose 13.8% in year-on-year terms in August, which was a stronger expansion than July's 12.5%.
October 6, 2021
The Universidad Torcuato di Tella (UTDT) consumer confidence index rose to 40.5 in September from 39.8 in August, marking the best reading since November 2020.
September 29, 2021
The monthly indicator for economic activity (EMAE) grew 11.7% year-on-year in July (June: +11.7% yoy).
September 29, 2021
Merchandise exports soared 63.3% over the same month last year in August, following July’s 47.1% upturn.
September 24, 2021
GDP growth gathered significant momentum in the second quarter, accelerating to 17.9% year-on-year from 2.9% in the first quarter, benefiting from a favorable base effect. The upturn mainly reflected a marked improvement in domestic demand.