Economy growth

Argentina recorded growth of 5.2 percent in 2022 year-on-year, according to preliminary data published by the goverment.

Figures from the INDEC national statistics bureau’s monthly estimate of economic activity (EMAE) forecasts that gross domestic product declined 1.2 percent in December, compared to the same month the previous year.

Fishing was the sector banking the highest year-on-year expansion in December, with 15.5 percent growth, according to INDEC, whose data anticipates GDP. The hotels and restaurants sector rose 10.8 percent over the same period.

December was the only month of last year that registered a decline, compared to the same month in 2021. The activity that fell the most in January was agriculture and livestock, falling 18 percent exacerbated by a year of a severe drought. Manufacturing (down 2.1 percent) and construction (down 1.7 percent) also fell.

According to the International Monetary Fund, Argentina’s economy will grow by two percent in 2023.


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