Argentina’s economic activity increased 3.5% year-on-year in December 2025, up from a 0.1% decline in November and marking a return to expansion. Growth was primarily driven by a significant strengthening in agriculture (32.2% vs 11.5%) alongside accelerated gains in mining (9.1% vs 7.3%) and utilities (10.7% vs 1.8%). Financial intermediation (14.1% vs 13.8%), real estate and business services (1.6% vs 0.5%), and transport and communications (1.8% vs 1.9%) also remained positive contributors. Furthermore, the construction (0.3% vs -2.5%) and education (0.3% vs 0.5%) sectors added to the expansion. Conversely, the recovery was limited by continued contractions in manufacturing (-3.9% vs -8.0%), trade (-1.3% vs -6.0%), and the public sector (-1.1% vs -1.1%), albeit at a softer rate. Additionally, hotels and restaurants moved into negative territory (-1.5% vs 0.8%). On a monthly, seasonally-adjusted basis, activity rose (1.8%), while the trend-cycle increased (0.3%). source: Instituto Nacional de Estadística y Censos (INDEC)

Monthly GDP YoY in Argentina increased to 3.50 percent in December from -0.30 percent in November of 2025. Monthly GDP YoY in Argentina averaged 2.24 percent from 2005 until 2025, reaching an all time high of 30.00 percent in April of 2021 and a record low of -24.40 percent in April of 2020. This page includes a chart with historical data for Argentina Economic Activity Index. Argentina Monthly Economic Activity Estimator - data, historical chart, forecasts and calendar of releases - was last updated on March of 2026.

Monthly GDP YoY in Argentina increased to 3.50 percent in December from -0.30 percent in November of 2025. Monthly GDP YoY in Argentina is expected to be 5.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Argentina Monthly Economic Activity Estimator is projected to trend around 2.00 percent in 2027, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-01-21 07:00 PM
Economic Activity YoY
Nov -0.3% 3.2% 2.8%
2026-02-24 07:00 PM
Economic Activity YoY
Dec 3.5% -0.3% 0.5% 0.5%
2026-03-26 07:00 PM
Economic Activity YoY
Jan 3.5% 2.3%


Related Last Previous Unit Reference
Full Year GDP Growth -1.70 -1.61 percent Dec 2024
GDP 633.27 646.08 USD Billion Dec 2024
GDP Growth Rate YoY 3.30 6.40 percent Sep 2025
GDP Constant Prices 737868.00 776529.00 ARS Million Sep 2025
GDP from Agriculture 35746.00 90671.00 ARS Million Sep 2025
GDP from Construction 20297.00 18969.00 ARS Million Sep 2025
GDP from Manufacturing 113578.00 109005.00 ARS Million Sep 2025
GDP from Mining 30883.00 29408.00 ARS Million Sep 2025
GDP from Public Administration 35108.00 34990.00 ARS Million Sep 2025
GDP from Services 93344.00 94919.00 ARS Million Sep 2025
GDP from Transport 55332.00 57066.00 ARS Million Sep 2025
GDP from Utilities 13165.00 12740.00 ARS Million Sep 2025
GDP Growth Rate 0.30 -0.10 percent Sep 2025
GDP per Capita 12667.03 12933.25 USD Dec 2024
GDP per Capita PPP 26547.05 27104.98 USD Dec 2024
Gross Fixed Capital Formation 150285.00 169102.00 ARS Million Sep 2025
Economic Activity YoY 3.50 -0.30 percent Dec 2025


Argentina Monthly Economic Activity Estimator
In Argentina, the Monthly Economic Activity Estimator (EMAE) is a provisional indicator of the evolution of the GDP. Its calculation is structured in the aggregation of the added value at basic prices of each one of the economic activities plus the net taxes of subsidies to the products, using the weights of the national accounts.
Actual Previous Highest Lowest Dates Unit Frequency
3.50 -0.30 30.00 -24.40 2005 - 2025 percent Monthly
2014=100, NSA

News Stream
Argentina Economic Activity Returns to Expansion
Argentina’s economic activity increased 3.5% year-on-year in December 2025, up from a 0.1% decline in November and marking a return to expansion. Growth was primarily driven by a significant strengthening in agriculture (32.2% vs 11.5%) alongside accelerated gains in mining (9.1% vs 7.3%) and utilities (10.7% vs 1.8%). Financial intermediation (14.1% vs 13.8%), real estate and business services (1.6% vs 0.5%), and transport and communications (1.8% vs 1.9%) also remained positive contributors. Furthermore, the construction (0.3% vs -2.5%) and education (0.3% vs 0.5%) sectors added to the expansion. Conversely, the recovery was limited by continued contractions in manufacturing (-3.9% vs -8.0%), trade (-1.3% vs -6.0%), and the public sector (-1.1% vs -1.1%), albeit at a softer rate. Additionally, hotels and restaurants moved into negative territory (-1.5% vs 0.8%). On a monthly, seasonally-adjusted basis, activity rose (1.8%), while the trend-cycle increased (0.3%).
2026-02-24
Argentina Economic Activity Contracts in November
Argentina’s economic activity declined 0.3% year-on-year in November 2025, down from a 3.2% increase in October and marking the first contraction since September 2024. The slowdown reflected weaker performance across several sectors, including manufacturing (-8.2% vs -2.7%), construction (-2.3% vs 5.3%), trade (-6.4% vs 0.6%), real estate and business services (0.4% vs 3.8%) and education (0.7% vs 0.9%). By contrast, agriculture strengthened (10.5% vs 3.1%), hotels and restaurants moved into modest positive territory (0.3% vs -0.4%), transport and communications moderated (1.8% vs 2.5%) and financial intermediation remained a positive contributor albeit smaller (13.9% vs 23.1%). Utilities posted a smaller gain (1.6% vs 2.1%) and the public sector’s small contraction persisted (-0.6% vs -0.8%). Mining stayed in expansion but slowed (7.0% vs 8.1%). On a monthly, seasonally-adjusted basis, activity fell (-0.3%), while the trend-cycle was unchanged (0.0%).
2026-01-21
Argentina Activity Growth Slows in October
Argentina’s economic activity expanded 3.2% year-on-year in October 2025, slowing from 4.8% in September and coming just below expectations of 3.3%. Twelve sectors posted gains, led by fishing (91.4%) and financial intermediation (22.8%), supported by stronger activity among brokers and securities firms. In contrast, manufacturing fell 2.7%, alongside declines in public administration and defense including social security (0.8%) and hotels and restaurants (1.0%). On a seasonally adjusted basis, activity contracted 0.4% month-on-month.
2025-12-22