Argentina Industrial Production Declines in January

Argentina’s industrial production fell 3.2% year-on-year in January 2026, following a 3.9% decline in December. Ten of sixteen manufacturing divisions posted annual drops. The steepest declines were in machinery and equipment (-20.2%), motor vehicles, bodies, trailers, and parts (-25.7%), wearing apparel, leather, and footwear (-20.6%), other equipment and instruments (-22.1%), rubber and plastic products (-8.0%), metal products (-8.0%), and textiles (-23.9%). Positive contributions came from chemical substances and products (7.2%), non-metallic mineral products (4.3%), petroleum refining, coke, and nuclear fuel (2.2%), tobacco products (2.5%), wood, paper, publishing and printing (0.2%), and basic metal industries (0.2%).

Argentina’s industrial production fell 3.9% year-on-year in December 2025, following an 8.7% contraction in November. Ten of the sixteen manufacturing divisions recorded annual declines. By impact on the overall index, the steepest drops were seen in motor vehicles, bodies, trailers and auto parts (-21.6%), apparel, leather and footwear (-16.7%), machinery and equipment (-14.8%), other equipment, devices and instruments (-22.4%), rubber and plastic products (-18.3%), textile products (-25.7%), metal products (-7.5%), furniture, mattresses and other manufacturing industries (-6.6%), tobacco products (-7.6%), and other transport equipment (-2.9%). Meanwhile, positive contributions came from basic metal industries (7.4%), wood, paper, publishing and printing (4.6%), petroleum refining, coke and nuclear fuel (4.0%), chemical substances and products (1.0%), food and beverages (0.8%), and non-metallic mineral products (0.3%).

Argentina’s industrial production contracted 8.7% year-on-year in November 2025, worsening from a 2.9% decline in October. Fifteen of the sixteen manufacturing divisions posted annual declines. Sharp drops were recorded in textiles (-36.7%), motor vehicles and auto parts (-23.0%), metal products (-18.6%), machinery and equipment (-17.9%), apparel, leather, and footwear (-17.6%), and rubber and plastic products (-12.5%). Output also fell in food and beverages (-7.8%), chemicals (-3.4%), non-metallic mineral products (-2.4%), tobacco (-5.6%), and other transport equipment (-0.5%). Furniture and mattresses declined 9.4%, while other equipment, appliances, and instruments fell 14.0%. Marginal gains were seen in basic metals (3.1%) and wood, paper, publishing, and printing (0.3%). Petroleum refining, coke, and nuclear fuel stood out with a 6.3% increase.