Markets Actual Q3 Q4 Q1 Q2 2021
Currency 70.63 72.01 73.41 74.84 76.3 79.23
Stock Market (points) 39758.20 35369 31465 27990 24901 18722

Overview Actual Q3 Q4 Q1 Q2 2021
GDP Growth Rate (%) -4.80 3 -0.5 0.6 0.4 0.8
GDP Annual Growth Rate (%) -5.40 -8 -6 -3 -1.5 3.5
Unemployment Rate (%) 10.40 11.3 11.5 11.7 11.5 10.6
Inflation Rate (%) 42.10 43 43.3 42.8 42.3 41.1
Inflation Rate Mom (%) 1.50 3.3 3 2.8 2.5 2
Interest Rate (%) 38.00 34 32 32 30 28
Balance of Trade (USD Million) 1893.00 1700 1100 1120 900 1400
Current Account (USD Million) -444.13 500 -800 -1500 -2000 -4000
Current Account to GDP (%) -5.40 -5 -5 -4.8 -4.8 -4.8
Government Debt to GDP (%) 89.40 97 97 95 95 95
Government Budget (% of GDP) -5.50 -7 -7 -6.3 -6.3 -6.3
Consumer Confidence (points) 39.50 40.5 42 42.3 42.5 42.7
Corporate Tax Rate (%) 30.00 30 30 30 30 30
Personal Income Tax Rate (%) 35.00 35 35 35 35 35

GDP Actual Q3 Q4 Q1 Q2 2021
GDP Growth Rate (%) -4.80 3 -0.5 0.6 0.4 0.8
GDP Annual Growth Rate (%) -5.40 -8 -6 -3 -1.5 3.5
GDP (USD Billion) 449.70 409 409 425 425 425
GDP Constant Prices (ARS Million) 629398.00 656441 632095 610516 619957 654219
Gross Fixed Capital Formation (ARS Million) 93309.00 120963 103798 90510 91909 107431
GDP per capita (USD) 10040.13 10200 10200 10400 10400 10400
GDP per capita PPP (USD) 18282.09 19100 19100 19100 17009 19200
Economic Activity Index (%) -26.40 -2.5 -2.7 2.3 3 -1.5
GDP From Agriculture (ARS Million) 37894.52 33500 35000 35000 35000 35000
GDP From Construction (ARS Million) 17238.78 21153 18129 16722 16980 18764
GDP From Manufacturing (ARS Million) 92632.25 107507 104652 89853 91243 108315
GDP From Mining (ARS Million) 20974.82 21134 20272 20346 20660 20982
GDP From Public Administration (ARS Million) 33142.43 31879 31435 32148 32645 32536
GDP From Services (ARS Million) 76340.43 80561 78936 74050 75195 81699
GDP From Transport (ARS Million) 52737.59 54883 52390 51155 51947 54224
GDP From Utilities (ARS Million) 12670.02 11906 11434 12290 12480 11834

Labour Actual Q3 Q4 Q1 Q2 2021
Unemployment Rate (%) 10.40 11.3 11.5 11.7 11.5 10.6
Employed Persons (Thousand ) 12045.00 12200 120200 120200 120200 12400
Unemployed Persons (Thousand ) 1394.00 1450 1480 1490 1470 1450
Employment Rate (%) 42.20 42 42.3 42.5 42.6 42.8
Labor Force Participation Rate (%) 47.10 46.6 46.7 47 47.1 47.2
Wages (ARS/Month) 58427.00 48287 76806 59596 59596 78342
Minimum Wages (ARS/Month) 16875.00 16875 16875 16875 16875 17500
Population (Million) 44.94 44.97 45.4 45.8 45.8 45.85
Wage Growth (%) -0.23 1.7 2 2 2 2

Prices Actual Q3 Q4 Q1 Q2 2021
Inflation Rate (%) 42.10 43 43.3 42.8 42.3 41.1
Inflation Rate Mom (%) 1.50 3.3 3 2.8 2.5 2
Consumer Price Index CPI (points) 314.91 363 406 436 448 573
Producer Prices (points) 448.22 545 570 580 574 701
Producer Prices Change (%) 51.20 40 30 28 28 23
CPI Housing Utilities (points) 324.74 428 453 463 462 639
Cpi Transportation (points) 323.23 379 432 451 460 609
Food Inflation (%) 48.70 44 42 40 38 40
Core Inflation Rate (%) 48.50 40 36 34 34 30
Inflation Expectations (Percent) 50.00 33 33 33 33 30

Money Actual Q3 Q4 Q1 Q2 2021
Interest Rate (%) 38.00 34 32 32 30 28
Interbank Rate (%) 14.07 10.07 8.07 8.07 6.07 6.07
Deposit Interest Rate (%) 29.48 25 25 25 25 25
Central Bank Balance Sheet (USD Million) 9387306.53 7300000 7300000 7300000 7300000 8778056
Foreign Exchange Reserves (USD Million) 36886.00 51000 56000 56000 56000 58000

Trade Actual Q3 Q4 Q1 Q2 2021
Balance of Trade (USD Million) 1893.00 1700 1100 1120 900 1400
Current Account (USD Million) -444.13 500 -800 -1500 -2000 -4000
Current Account to GDP (%) -5.40 -5 -5 -4.8 -4.8 -4.8
Imports (USD Million) 3168.00 3500 3900 4030 4400 4200
Exports (USD Million) 5061.00 5200 5000 5150 5300 5600
External Debt (USD Million) 274247.29 279000 286000 286000 286000 286000
Capital Flows (USD Million) -754.78 -4100 -5000 -5000 -5000 -6500
Foreign Direct Investment (USD Millions) 81.38 130 120 120 120 160
Tourist Arrivals 238778.00 140000 180000 220000 260000 315000
Gold Reserves (Tonnes) 61.70 60.58 60.58 60.58 60.58 60.58

Government Actual Q3 Q4 Q1 Q2 2021
Government Debt to GDP (%) 89.40 97 97 95 95 95
Government Budget (% of GDP) -5.50 -7 -7 -6.3 -6.3 -6.3
Government Budget Value (ARS Million) -251287.02 -22000 -120000 -120000 -120000 -125000
Government Spending (ARS Million) 90931.00 91151 91079 88203 89567 94267
Government Revenues (ARS Million) 609900.22 498000 380000 380000 380000 395000
Fiscal Expenditure (ARS Million) 657908.60 520000 500000 500000 500000 520000
Military Expenditure (USD Million) 5337.00 5350 5350 5350 5350 5450
Tax Revenue (ARS Million) 545960.00 389000 400000 422000 440000 470000

Taxes Actual Q3 Q4 Q1 Q2 2021
Corporate Tax Rate (%) 30.00 30 30 30 30 30
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 26.7 26.7 26.7 26.7 26.7
Social Security Rate For Employees (%) 17.00 17 17 17 17 17

Business Actual Q3 Q4 Q1 Q2 2021
Industrial Production (%) -33.50 -1.2 -0.8 1.1 1.3 1.8
Industrial Production Mom (%) 1.20 0.8 1.2 1 1 1.4
Capacity Utilization (%) 42.00 63 64 64 64 64
Changes in Inventories (ARS Million) 2294.00 -10283 21600 21600 21600 28954
Car Production (Units) 4802.00 38600 40900 40900 40900 42000
Car Registrations (Thousand) 20.03 45 55 55 55 64
Leading Economic Index (%) -1.70 -3 -1.5 -1.5 0.1 0.3

Consumer Actual Q3 Q4 Q1 Q2 2021
Consumer Confidence (points) 39.50 40.5 42 42.3 42.5 42.7
Retail Sales YoY (%) -97.60 21 15 15 20 17
Consumer Spending (ARS Million) 470507.00 458838 424429 456392 463449 439284
Gasoline Prices (USD/Liter) 0.76 0.72 0.69 0.65 0.62 0.59

Housing Actual Q3 Q4 Q1 Q2 2021
Housing Index (SQ. METRE THO) 557.66 750 730 730 730 680
Construction Output (%) -75.60 0.6 0.8 0.8 0.8 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.