Markets Actual Q2 Q3 Q4 Q1 2022
Currency 95.38 97.21 99.11 101 103 107
Stock Market (points) 65136.00 59105 52581 46774 41612 31287

Overview Actual Q2 Q3 Q4 Q1 2022
GDP Growth Rate (%) 4.50 1.5 2.5 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 11.8 11.6 10.8 9.5
Inflation Rate (%) 48.80 49 53 50 45 25
Inflation Rate Mom (%) 3.30 4 3 3 3 2
Interest Rate (%) 38.00 38 38 38 38 34
Balance of Trade (USD Million) 1470.00 900 1050 1400 1030 1200
Current Account (USD Million) -1372.00 -2000 -2500 -2750 -3200 -4000
Current Account to GDP (% of GDP) 1.00 2.3 2.3 2.3 1.3 1.3
Government Debt to GDP (% of GDP) 102.00 105 105 105 100 100
Government Budget (% of GDP) -8.50 -6.3 -6.3 -6.3 -5 -5
Consumer Confidence (points) 35.40 36 41 40 42 42
Corporate Tax Rate (%) 25.00 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 1.5 2.5 1.3 0.8 1.3
GDP Annual Growth Rate (%) -4.30 15 7 5.6 2.4 2.5
GDP (USD Billion) 449.70 425 425 425 437 437
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 9500 9500
GDP per capita PPP (USD) 22033.95 21700 21700 21700 22000 22000
Economic Activity Index (%) 11.40 8.5 6 4 3.5 2.5
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 11.8 11.6 10.8 9.5
Employed Persons (Thousand ) 11524.00 11000 11200 11300 11300 11500
Unemployed Persons (Thousand ) 1418.00 1440 1430 1420 1400 1370
Employment Rate (%) 40.10 39.8 40 40.1 40.3 41
Labor Force Participation Rate (%) 45.00 45 45.3 45.5 45.9 46
Wages (ARS/Month) 79311.00 86725 65234 104003 80421 105459
Minimum Wages (ARS/Month) 25272.00 24420 24456 24492 24529 24637
Population (Million) 45.38 45.8 45.8 45.85 46.3 46.3
Wage Growth (%) 3.96 1.5 1.7 1.4 1.4 1.4

Prices Actual Q2 Q3 Q4 Q1 2022
Inflation Rate (%) 48.80 49 53 50 45 25
Inflation Rate Mom (%) 3.30 4 3 3 3 2
Consumer Price Index CPI (points) 468.73 480 530 579 632 724
Producer Prices (points) 773.82 746 751 750 755 938
Export Prices (points) 170.60 180 166 160 157 150
Producer Prices Change (%) 57.30 60 42 22 6 25
CPI Housing Utilities (points) 410.10 488 526 557 563 697
Cpi Transportation (points) 517.05 490 546 606 670 758
Core Inflation Rate (%) 45.70 48 54 52 48 30
Food Inflation (%) 44.80 42 40 37 35 34
Inflation Expectations (Percent) 50.00 49 53 50 45 25

Money Actual Q2 Q3 Q4 Q1 2022
Interest Rate (%) 38.00 38 38 38 38 34
Money Supply M1 (ARS Million) 3381616.10 3292111 3304297 3316483 3328669 3365228
Interbank Rate (%) 32.29 31.34 31.34 31.34 31.34 29.34
Money Supply M2 (ARS Million) 4873068.70 4781781 4799054 4816326 4833598 4885415
Money Supply M3 (ARS Million) 8723224.80 8261432 8290076 8318720 8347365 8433298
Deposit Interest Rate (%) 34.40 25 25 25 25 25
Central Bank Balance Sheet (USD Million) 15105636.23 15316356 15632436 15948515 16264595 17528914
Foreign Exchange Reserves (USD Million) 35334.00 34800 35300 36500 38000 40000

Trade Actual Q2 Q3 Q4 Q1 2022
Balance of Trade (USD Million) 1470.00 900 1050 1400 1030 1200
Current Account (USD Million) -1372.00 -2000 -2500 -2750 -3200 -4000
Current Account to GDP (% of GDP) 1.00 2.3 2.3 2.3 1.3 1.3
Imports (USD Million) 4673.00 4400 4350 4200 4350 4400
Exports (USD Million) 6143.00 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) 42.41 65 67 80 75 100
Tourist Arrivals 11116.00 25000 45000 70000 115000 170000
Gold Reserves (Tonnes) 61.74 62 62 62 63 63

Government Actual Q2 Q3 Q4 Q1 2022
Government Debt to GDP (% of GDP) 102.00 105 105 105 100 100
Government Budget (% of GDP) -8.50 -6.3 -6.3 -6.3 -5 -5
Government Budget Value (ARS Million) -11444.90 10000 40000 70000 80000 180000
Government Spending (ARS Million) 96832.00 101247 96992 102255 99156 104811
Government Revenues (ARS Million) 806798.30 760000 770000 770000 780000 800000
Military Expenditure (USD Million) 3143.00 3000 3000 3000 3200 3200
Tax Revenue (ARS Million) 862480.00 800000 750000 750000 700000 600000

Taxes Actual Q2 Q3 Q4 Q1 2022
Corporate Tax Rate (%) 25.00 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 (%) 55.90 15 5 3 2 2
Industrial Production Mom (%) 0.30 0.8 1.5 1.4 0.8 1.3
Capacity Utilization (%) 63.50 62 60 59 61 61
Changes in Inventories (ARS Million) 36443.00 -2267 22714 -7241 11160 3000
Car Production (Units) 34953.00 28000 29000 29000 30800 32000
Car Registrations (Thousand) 28.03 32 34 36 38 40
Leading Economic Index (%) 0.61 2 1.4 1.7 0.9 1.3

Consumer Actual Q2 Q3 Q4 Q1 2022
Consumer Confidence (points) 35.40 36 41 40 42 42
Retail Sales YoY (%) 162.90 40 35 10 8 5
Consumer Spending (ARS Million) 413952.00 478384 437054 437133 423887 448062
Households Debt To GDP (% of GDP) 5.60 5.2 5.2 5.2 5.4 5.4
Gasoline Prices (USD/Liter) 0.96 0.78 0.74 0.75 0.67 0.63

Housing Actual Q2 Q3 Q4 Q1 2022
Housing Index (%) 6.40 4.5 2.3 3 2.2 1.5
Construction Output (%) 321.30 25 7 5.8 3 1.8
Building Permits (Thousands Square Metre) 770.37 680 700 720 750 770


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.