The economy of Argentina shrank 10.2% year-on-year in the third quarter of 2020, following a downwardly revised 19% decline in the previous period and matching market expectations. The slower contraction rate follows the sharpest decline on record, as the economy began to recover from the coronavirus pandemic. Output shrank at a slower pace in manufacturing (-5.3% vs -20.8% in Q2); wholesale & retail trade (-2.1% vs -16.9%); construction (-27.0% vs -52.1%); transportation & communication (-21.7% vs -22.5%), real estate (-5.8% vs -14.3%, public administration (-9.7% vs -12.8%), mining (-12.8% vs -18.3%), and agriculture (-2.5% vs -10.7%). On the expenditure side, private consumption plunged 14.7 percent, gross fixed investment slumped 10.3%, and public spending decreased 6.5 percent. On a quarterly basis, GDP rebounded a sharp 12.8% following a 16.2 percent drop. source: Instituto Nacional de Estadística y Censos (INDEC)
GDP Annual Growth Rate in Argentina averaged 1.83 percent from 1994 until 2020, reaching an all time high of 16.20 percent in the second quarter of 2010 and a record low of -19.10 percent in the second quarter of 2020. This page provides the latest reported value for - Argentina GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Argentina GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2020.
GDP Annual Growth Rate in Argentina is expected to be -7.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Argentina to stand at 9.00 in 12 months time. In the long-term, the Argentina GDP Annual Growth Rate is projected to trend around 4.50 percent in 2021 and 2.00 percent in 2022, according to our econometric models.