Argentina GDP Annual Growth Rate

Last Release

Dec 31, 2022

Actual

1.9

Units In

5.9

Frequency

Quarterly

Next Release

Mar 19, 2025

Time to Release

2 Months 30 Days 18 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 contracted by 2.1% year-on-year in the third quarter of 2024, worsening from a 1.7% decline in the previous quarter but outperforming expectations of a 2.6% drop. This marked the sixth consecutive quarter of contraction, driven by a sharp slowdown in the agriculture sector (13.2% vs 80.2% in Q2) as the rebound effects from a historic drought that had severely impacted grain production began to fade. Conversely, declines in manufacturing production (-5.9% vs -17.4% in Q2), construction (-14.9% vs -22.2%), wholesale, retail trade and repairs (-6.1% vs -15.7%), and financial intermediation (-1.8% vs -9.8%) eased. On a quarterly basis, Argentina's GDP rebounded by 3.9%, following a 1.7% decline in the previous period.