Markets Actual Q4 Q1 Q2 Q3 2021
Currency 78.12 79.64 81.2 82.78 84.39 87.63
Stock Market (points) 52512.60 45967 40893 36377 32362 24332

Overview Actual Q4 Q1 Q2 Q3 2021
GDP Growth Rate (%) -16.20 1.5 0.6 0.4 0.6 0.8
GDP Annual Growth Rate (%) -19.10 -12 -6 15 9 4.5
Unemployment Rate (%) 13.10 13.3 13.1 12.7 12.5 12.3
Inflation Rate (%) 36.60 37.9 39 40 41 43
Inflation Rate Mom (%) 2.80 3 2.8 2.5 2.3 2
Interest Rate (%) 36.00 38 36 36 36 36
Balance of Trade (USD Million) 584.00 200 1100 1120 900 200
Current Account (USD Million) 2840.00 -800 -1500 -2000 -2500 -4000
Current Account to GDP (%) -0.80 -5 -4.8 -4.8 -4.8 -4.8
Government Debt to GDP (%) 89.40 97 95 95 95 95
Government Budget (% of GDP) -3.80 -9 -6.3 -6.3 -6.3 -6.3
Consumer Confidence (points) 38.80 39 40.5 41 41.3 41.5
Corporate Tax Rate (%) 30.00 35 30 30 30 35
Personal Income Tax Rate (%) 35.00 35 35 35 35 35

GDP Actual Q4 Q1 Q2 Q3 2021
GDP Growth Rate (%) -16.20 1.5 0.6 0.4 0.6 0.8
GDP Annual Growth Rate (%) -19.10 -12 -6 15 9 4.5
GDP (USD Billion) 449.70 409 425 425 425 425
GDP Constant Prices (ARS Million) 606993.00 684463 591749 593113 698042 701574
Gross Fixed Capital Formation (ARS Million) 76104.00 121348 97319 87948 87520 124382
GDP per capita (USD) 9729.14 8854 9200 9200 9200 9200
GDP per capita PPP (USD) 22033.95 20500 21700 21700 21700 21700
Economic Activity Index (%) -11.60 -5.5 -1.5 9 7 -1.5
GDP From Agriculture (ARS Million) 92004.65 35000 35000 35000 35000 35000
GDP From Construction (ARS Million) 10168.96 20634 16972 16407 11694 21149
GDP From Manufacturing (ARS Million) 87855.64 114258 97972 87222 101034 117114
GDP From Mining (ARS Million) 17786.68 21327 18978 19712 20455 21860
GDP From Public Administration (ARS Million) 28996.87 33399 29429 31177 33346 34234
GDP From Services (ARS Million) 71161.54 85393 73898 72168 81836 87528
GDP From Transport (ARS Million) 45942.36 55797 49046 49677 52834 57192
GDP From Utilities (ARS Million) 11444.28 11831 10704 11959 13161 12127

Labour Actual Q4 Q1 Q2 Q3 2021
Unemployment Rate (%) 13.10 13.3 13.1 12.7 12.5 12.3
Employed Persons (Thousand ) 9546.00 9520 9590 9650 9800 9900
Unemployed Persons (Thousand ) 1437.00 1460 1450 1440 1430 1420
Employment Rate (%) 33.40 33.4 33.8 34.1 34.5 35
Labor Force Participation Rate (%) 38.40 38.4 39 39.7 40 41
Wages (ARS/Month) 61221.00 36337 76712 62438 86242 37111
Minimum Wages (ARS/Month) 16875.00 16875 17500 17500 17500 17500
Population (Million) 44.94 45.4 45.8 45.8 45.8 45.85
Wage Growth (%) 1.31 0.8 1.1 1.5 1.7 2

Prices Actual Q4 Q1 Q2 Q3 2021
Inflation Rate (%) 36.60 37.9 39 40 41 43
Inflation Rate Mom (%) 2.80 3 2.8 2.5 2.3 2
Consumer Price Index CPI (points) 346.62 306 391 425 451 355
Producer Prices (points) 528.79 701 605 616 624 1122
Producer Prices Change (%) 35.80 38 36 34 32 30
CPI Housing Utilities (points) 343.96 377 436 451 459 437
Cpi Transportation (points) 357.12 335 415 439 461 388
Food Inflation (%) 40.80 42 40 38 40 40
Core Inflation Rate (%) 38.30 42 43 44 45 45
Inflation Expectations (Percent) 45.00 40 35 35 35 35

Money Actual Q4 Q1 Q2 Q3 2021
Interest Rate (%) 36.00 38 36 36 36 36
Interbank Rate (%) 15.36 45 15.71 13.71 13.71 13.71
Deposit Interest Rate (%) 32.27 25 25 25 25 25
Central Bank Balance Sheet (USD Million) 11866402.45 12000000 12100000 12010000 11850000 11580000
Foreign Exchange Reserves (USD Million) 35622.00 37700 38900 40800 42000 46000

Trade Actual Q4 Q1 Q2 Q3 2021
Balance of Trade (USD Million) 584.00 200 1100 1120 900 200
Current Account (USD Million) 2840.00 -800 -1500 -2000 -2500 -4000
Current Account to GDP (%) -0.80 -5 -4.8 -4.8 -4.8 -4.8
Imports (USD Million) 4127.00 3900 4030 4400 4350 4200
Exports (USD Million) 4711.00 5000 5150 5300 5400 5600
External Debt (USD Million) 270825.50 280000 282000 284000 286000 286000
Capital Flows (USD Million) 2521.16 -1800 -2100 -1700 -2000 -2800
Foreign Direct Investment (USD Millions) 68.19 56 54 57 60 80
Tourist Arrivals 969.00 50000 75000 100000 150000 185000
Gold Reserves (Tonnes) 61.70 60.58 60.58 60.58 60.58 60.58

Government Actual Q4 Q1 Q2 Q3 2021
Government Debt to GDP (%) 89.40 97 95 95 95 95
Government Budget (% of GDP) -3.80 -9 -6.3 -6.3 -6.3 -6.3
Government Budget Value (ARS Million) -167181.50 -18825 -120000 -80000 -30000 -18825
Government Spending (ARS Million) 86822.00 98000 87457 85500 99845 91393
Government Revenues (ARS Million) 671334.10 680000 700000 720000 740000 755000
Fiscal Expenditure (ARS Million) 805790.00 800000 780000 750000 730000 700000
Military Expenditure (USD Million) 5337.00 5350 5350 5350 5350 5450
Tax Revenue (ARS Million) 606510.00 560000 520000 490000 480000 470000

Taxes Actual Q4 Q1 Q2 Q3 2021
Corporate Tax Rate (%) 30.00 35 30 30 30 35
Personal Income Tax Rate (%) 35.00 35 35 35 35 35
Sales Tax Rate (%) 21.00 21 21 21 21 21
Social Security Rate (%) 43.70 43.7 43.7 43.7 43.7 43.7
Social Security Rate For Companies (%) 26.70 27 26.7 26.7 26.7 27
Social Security Rate For Employees (%) 17.00 17 17 17 17 17

Business Actual Q4 Q1 Q2 Q3 2021
Industrial Production (%) -7.07 -2 1.1 2.5 1.5 -1
Industrial Production Mom (%) -0.90 1.2 1 1 1.5 1.4
Capacity Utilization (%) 58.40 57 57.3 57.8 58.1 58.5
Changes in Inventories (ARS Million) -19819.00 -8000 -12000 -6000 -1500 1500
Car Production (Units) 32149.00 26800 27200 27700 28200 29000
Car Registrations (Thousand) 35.07 32 34 36 38 36
Leading Economic Index (%) 1.60 -1.5 -1.5 0.1 0.3 0.3

Consumer Actual Q4 Q1 Q2 Q3 2021
Consumer Confidence (points) 38.80 39 40.5 41 41.3 41.5
Retail Sales YoY (%) -73.00 -10 -10 20 30 17
Consumer Spending (ARS Million) 415986.00 462975 396399 443563 478384 474550
Gasoline Prices (USD/Liter) 0.78 0.79 0.69 0.65 0.62 0.75

Housing Actual Q4 Q1 Q2 Q3 2021
Housing Index (SQ. METRE THO) 426.52 500 620 680 700 720
Construction Output (%) -17.70 -5 -5 10 7 1.5


This page has economic forecasts for Argentina including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Argentina economy.