Markets Actual Q2 Q3 Q4 Q1 2022
Currency 92.79 94.6 96.45 98.32 100 104
Stock Market (points) 47664.35 41894 37270 33154 29494 22176

Overview Actual Q2 Q3 Q4 Q1 2022
GDP Growth Rate (%) 4.50 1.2 3.5 1.3 0.8 1.3
GDP Annual Growth Rate (%) -4.30 15 7 5.6 2.4 2.5
Unemployment Rate (%) 11.00 12.7 12.5 12.3 12 10
Inflation Rate (%) 42.60 37 34 29 25 19
Inflation Rate Mom (%) 4.80 2.6 3.1 4 3 2
Interest Rate (%) 38.00 38 38 38 38 34
Balance of Trade (USD Million) 1062.00 1120 900 200 200 1200
Current Account (USD Million) -1372.00 -2000 -2500 -2750 -3200 -4000
Current Account to GDP (%) 1.00 2.3 2.3 2.3 1.3 1.3
Government Debt to GDP (%) 89.40 95 95 95 93 93
Government Budget (% of GDP) -8.50 -6.3 -6.3 -6.3 -5 -5
Consumer Confidence (points) 38.20 41 41.3 41.5 42 42.4
Corporate Tax Rate (%) 30.00 35 30 35 35 35
Personal Income Tax Rate (%) 35.00 35 35 35 35 35

GDP Actual Q2 Q3 Q4 Q1 2022
GDP Growth Rate (%) 4.50 1.2 3.5 1.3 0.8 1.3
GDP Annual Growth Rate (%) -4.30 15 7 5.6 2.4 2.5
GDP (USD Billion) 449.70 425 425 425 425 437
GDP Constant Prices (ARS Million) 643710.00 699049 657831 679758 659159 696752
Gross Fixed Capital Formation (ARS Million) 128203.00 87659 123585 135382 131280 138767
GDP per capita (USD) 9729.14 9200 9200 9200 9200 9500
GDP per capita PPP (USD) 22033.95 21700 21700 21700 21700 22000
Economic Activity Index (%) -2.00 6.5 6 5 -0.4 -1.3
GDP From Agriculture (ARS Million) 34566.81 35000 35000 35000 35000 35000
GDP From Construction (ARS Million) 19953.36 12158 18475 21071 20432 21598
GDP From Manufacturing (ARS Million) 113121.80 100733 113666 119457 115837 122443
GDP From Mining (ARS Million) 19192.02 20464 20549 20267 19653 20773
GDP From Public Administration (ARS Million) 30756.09 33539 32082 32478 31494 33290
GDP From Services (ARS Million) 86996.49 81485 88152 91868 89084 94165
GDP From Transport (ARS Million) 45213.19 53063 48181 47745 46298 48939
GDP From Utilities (ARS Million) 12185.63 13173 13559 12868 12478 13190

Labour Actual Q2 Q3 Q4 Q1 2022
Unemployment Rate (%) 11.00 12.7 12.5 12.3 12 10
Employed Persons (Thousand ) 11524.00 10600 9800 9900 10100 11000
Unemployed Persons (Thousand ) 1418.00 1440 1430 1420 1400 1370
Employment Rate (%) 40.10 34.1 34.5 35 36 37.8
Labor Force Participation Rate (%) 45.00 39.7 40 42 43 44
Wages (ARS/Month) 102567.00 62438 86242 37111 104003 105459
Minimum Wages (ARS/Month) 21600.00 21600 21600 21600 22000 22000
Population (Million) 44.94 45.8 45.8 45.85 45.85 46.3
Wage Growth (%) 4.03 1.5 1.7 1.4 1.4 1.4

Prices Actual Q2 Q3 Q4 Q1 2022
Inflation Rate (%) 42.60 37 34 29 25 19
Inflation Rate Mom (%) 4.80 2.6 3.1 4 3 2
Consumer Price Index CPI (points) 435.87 434 441 355 498 592
Producer Prices (points) 689.30 670 708 1122 959 1381
Export Prices (points) 151.80 155 156 156 156 156
Producer Prices Change (%) 46.60 52 55 56 48 44
CPI Housing Utilities (points) 388.48 461 449 437 479 570
Cpi Transportation (points) 461.88 448 451 388 522 621
Food Inflation (%) 43.80 42 40 37 35 34
Core Inflation Rate (%) 43.70 42 38 34 28 20
Inflation Expectations (Percent) 50.00 35 35 30 30 20

Money Actual Q2 Q3 Q4 Q1 2022
Interest Rate (%) 38.00 38 38 38 38 34
Interbank Rate (%) 30.55 30.46 30.46 30.46 30.46 26.46
Money Supply M1 (ARS Million) 3275863.20 3350000 2980000 2720000 2650000 2340000
Money Supply M2 (ARS Million) 4758751.80 4950000 4700000 4500000 4200000 3800000
Money Supply M3 (ARS Million) 8223239.10 8600000 8200000 7700000 5200000 6400000
Deposit Interest Rate (%) 34.17 25 25 25 25 25
Central Bank Balance Sheet (USD Million) 14033889.95 14650000 12850000 11580000 11200000 10950000
Foreign Exchange Reserves (USD Million) 34627.00 34800 35300 36500 38000 40000

Trade Actual Q2 Q3 Q4 Q1 2022
Balance of Trade (USD Million) 1062.00 1120 900 200 200 1200
Current Account (USD Million) -1372.00 -2000 -2500 -2750 -3200 -4000
Current Account to GDP (%) 1.00 2.3 2.3 2.3 1.3 1.3
Imports (USD Million) 3713.00 4400 4350 4200 4350 4400
Exports (USD Million) 4775.00 5300 5400 5600 5380 5600
External Debt (USD Million) 271505.09 284000 281500 283000 285000 290000
Capital Flows (USD Million) -506.16 -1700 -2000 -2800 -2600 -3100
Foreign Direct Investment (USD Millions) 58.18 65 67 80 75 100
Tourist Arrivals 11116.00 45000 70000 85000 115000 170000
Gold Reserves (Tonnes) 61.74 60.58 60.58 60.58 60.58 60.58

Government Actual Q2 Q3 Q4 Q1 2022
Government Debt to GDP (%) 89.40 95 95 95 93 93
Government Budget (% of GDP) -8.50 -6.3 -6.3 -6.3 -5 -5
Government Budget Value (ARS Million) -18757.20 -80000 -30000 -18825 55000 150000
Government Spending (ARS Million) 96832.00 101247 96992 102255 99156 104811
Government Revenues (ARS Million) 705236.20 720000 740000 755000 747000 770000
Military Expenditure (USD Million) 3488.00 2800 2800 2800 3200 3200
Tax Revenue (ARS Million) 736860.00 490000 480000 470000 470000 470000

Taxes Actual Q2 Q3 Q4 Q1 2022
Corporate Tax Rate (%) 30.00 35 30 35 35 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 (%) 37.40 37.4 37.4 37.4 37.4 37.4
Social Security Rate For Companies (%) 20.40 20.4 20.4 27 20.4 20.4
Social Security Rate For Employees (%) 17.00 17 17 17 17 17

Business Actual Q2 Q3 Q4 Q1 2022
Industrial Production (%) 1.59 5 3.6 5.2 -0.5 1.6
Industrial Production Mom (%) -1.60 0.8 1.5 1.4 0.8 1.3
Capacity Utilization (%) 57.20 57.4 58.1 58.5 59.4 59.8
Changes in Inventories (ARS Million) 36443.00 -6000 -1500 1500 1500 3000
Car Production (Units) 43160.00 23000 27000 29000 30800 32000
Car Registrations (Thousand) 32.36 32 34 36 38 40
Leading Economic Index (%) 0.60 2 1.4 1.7 0.9 1.3

Consumer Actual Q2 Q3 Q4 Q1 2022
Consumer Confidence (points) 38.20 41 41.3 41.5 42 42.4
Retail Sales YoY (%) 7.50 40 35 10 8 5
Consumer Spending (ARS Million) 413952.00 478384 437054 437133 423887 448062
Households Debt To GDP (% of GDP) 5.20 5.2 5.2 5.2 5.2 5.4
Gasoline Prices (USD/Liter) 0.88 0.78 0.74 0.75 0.67 0.63

Housing Actual Q2 Q3 Q4 Q1 2022
Housing Index (SQ. METRE THO) 808.04 680 700 720 750 770
Construction Output (%) 22.70 25 7 5.8 3 1.8


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.