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Economic Growth in Argentina
Argentina's GDP growth over the last decade was highly volatile, marked by economic recessions and brief recoveries. The economy faced significant contractions, particularly during periods of political uncertainty and fiscal imbalances. Inflation and currency devaluation further hampered growth, with a notable recession in 2018-2019. Despite some recovery attempts, the COVID-19 pandemic exacerbated the economic downturn. In 2023, Argentina had slipped back into contraction, weighed on by soaring inflation and drought crimping agricultural production. This recession continued into H1 2024, but by end-2024 the economy was in recovery mode as inflation and interest rates declined.
In the year 2024, the economic growth in Argentina was -1.72%, compared to -2.51% in 2014 and -1.61% in 2023. It averaged -0.11% over the last decade. For more GDP information, visit our dedicated page.
Argentina GDP Chart
Note: This chart displays Economic Growth (GDP, annual variation in %) for Argentina from 2014 to 2025.
Source: Macrobond.
Argentina GDP Data
| 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|
| Economic Growth (Real GDP, ann. var. %) | 10.4 | 6.0 | -1.9 | -1.3 | 4.4 |
| GDP (USD bn) | 486 | 633 | 651 | 638 | 681 |
| GDP (ARS bn) | 46,219 | 82,810 | 192,408 | 583,910 | 847,623 |
| Economic Growth (Nominal GDP, ann. var. %) | 69.9 | 79.2 | 132.3 | 203.5 | 45.2 |
Economic growth is stable in the fourth quarter of 2025
Moderate GDP growth recorded: Argentina's GDP grew 0.6% on a seasonally adjusted quarter-on-quarter basis in Q4, unchanged from the prior quarter's reading. In annual terms, GDP expanded 2.1% in Q4, following 3.3% growth in the previous quarter.
Private consumption drives growth: Compared to the prior quarter's data, figures in Q4 improved for private consumption (+1.7% on a seasonally adjusted quarter-on-quarter basis vs +0.3% in Q3), fixed investment (-2.8% vs -5.3% in Q3) and imports of goods and services (+1.2% vs -2.5% in Q3). In contrast, readings worsened for government consumption (-1.0% vs +0.3% in Q3) and exports of goods and services (+5.0% vs +6.7% in Q3).
Panelist insight: On the outlook, Itaú Unibanco analysts said: “We forecast GDP growth of 3.5% in 2026, underpinned by a firmer outlook for investment and private consumption, alongside a favorable statistical carryover. That said, the recent acceleration in inflation tempers our optimism regarding a real wage recovery, warranting a more cautious stance on the pace of the consumption rebound. Separately, leading indicators for investment such as imports of capital goods have yet to signal a recovery in the near term.”
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Argentine GDP projections for the next ten years from a panel of 59 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable GDP forecast available for Argentine GDP.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Argentine GDP projections.
Want to get access to the full dataset of Argentine GDP forecasts? Send an email to info@focus-economics.com.
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