Argentina Economic Activity Growth Hits 9-Month High

Argentina’s economic activity rose 5.5% year-on-year in March 2026, accelerating from a 2.1% increase in February and marking the strongest growth since June 2025. Fourteen of the fifteen sectors surveyed posted annual gains during the month. The strongest expansions were recorded in fishing (30.9%) and agriculture, livestock, hunting and forestry (17.9%). Mining and quarrying also grew strongly, up 16.3%, while manufacturing activity increased 4.6%. In contrast, public administration and defense; compulsory social security plans (-1.2%) was the only sector to contract. On a monthly basis, the economic activity indicator advanced 3.5%.

Argentina’s economic activity fell 2.1% year-on-year in February 2026, marking the lowest since September 2024 and reversing a 1.9% expansion seen in January. Seven of the sectors tracked by the economic activity index declined, with manufacturing leading the drop at 8.7%, followed by wholesale, retail trade, and repairs at 7.0%. In contrast, fishing surged 14.8% and mining and quarrying rose 9.9%. On a seasonally adjusted basis, activity contracted 2.6% month-on-month.

Argentina's economic activity rose 1.9% year-over-year in January 2026, with seasonally adjusted output up 0.4% from December. Ten of the sectors tracked posted annual gains. Fishing led at 50.8%, followed by agriculture, livestock, hunting, and forestry at 25.1% , which was also the largest positive contributor to annual growth. Mining and quarrying added 9.6%, with agriculture and mining combined contributing 1.7 percentage points to the annual expansion. Conversely, five sectors contracted year-over-year. Wholesale, retail trade, and repairs fell 3.2%, while electricity, gas, and water declined 3.0%. Manufacturing dropped 2.6% and public administration fell 1.6%, with these four sectors combined subtracting 0.9 percentage points from annual growth.