The economy of Argentina shrank 5.4 percent year-on-year in the first quarter of 2020, after declining 1.1 percent in the previous period. It was the sharpest contraction in a year, amid the coronavirus pandemic. Output shrank further in manufacturing (-6.5% vs -1.9% in Q4 2019); wholesale & retail trade (-6.5% vs -2.8%); construction (-20.8% vs -4.9%) and fishing (-30.4% vs -19.5%). Additionally, output contracted in transportation & communication (-5.4% vs 0.1%); real estate (-2% vs 0.7%) and agriculture (-6.2% vs 1.2%). On the expenditure side, private consumption fell 6.6 percent, faster than a 2.1 percent drop in Q4 2019; and gross fixed investment slumped 18.3 percent, after declining 8.5 percent. Meantime, public spending decreased 0.7 percent, less than a 1.6 percent fall. Exports plunged 18.3 percent (vs -8.5% in Q4) and imports dropped 16 percent (vs -19% in Q4). On a quarterly basis, the GDP shrank 4.8%, following a downwardly revised 0.9% contraction in the prior period.
GDP Annual Growth Rate in Argentina averaged 2.15 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 -16.30 percent in the first quarter of 2002. 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 August of 2020. source: Instituto Nacional de Estadística y Censos (INDEC)
GDP Annual Growth Rate in Argentina is expected to be -8.00 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 -1.50 in 12 months time. In the long-term, the Argentina GDP Annual Growth Rate is projected to trend around 3.50 percent in 2021 and 2.00 percent in 2022, according to our econometric models.