Argentina GDP Annual Growth Rate

Last Release

Dec 31, 2022

Actual

1.9

Units In

5.9

Frequency

Quarterly

Next Release

Dec 16, 2024

Time to Release

2 Months 26 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 1.7% year-on-year in the first quarter of 2024, improving from a 5.1% decline in the previous quarter, but below expectations of a 1.4% decline. This marked the fifth consecutive quarter of contraction, driven by sharp declines in manufacturing production (-17.4% vs -13.7% in Q1), construction (-22.2% vs -19.7%), wholesale, retail trade and repairs (-15.7% vs -8.7%), while financial intermediation (-9.8% vs -13%) fell at a slower rate. Conversely, the agriculture sector surged (80.2% vs 10.2%), rebounding further from a historic drought that had previously impacted grain production. On a quarterly basis, Argentina's GDP fell by 1.7%, following a 2.6% decline in the previous period.