Argentine GDP had a growth in 2022 of 5.2 %

The positive performance of several sectors of the economy had a positive influence on the Argentine GDP

The Gross Domestic Product (GDP) of Argentina grew by 5.2 % year-on-year in 2022, driven by a positive performance in almost all sectors of activity, with the exception of agriculture, livestock, hunting and forestry, which fell by 4, 1 %.

In this way, the Argentine economy grew by half that in 2021, when GDP expanded by 10.4 % after the drop in activity in 2020 due to the pandemic crisis.

As reported this Wednesday by the National Institute of Statistics and Censuses (Indec), in 2022 the increases in hotels and restaurants (35 %), mining and quarrying (13.5 %) and private households with domestic service (10, 3 %).

On the demand side, gross fixed capital formation increased by 10.9 % compared to 2021, followed by private consumption, which grew by 9.4 %. Public consumption increased by 1.8 %, while exports rose by 5.7 % and imports up to 17.4 %.

Regarding the fourth quarter, Argentina’s GDP grew by 1.9 % compared to the same period of the previous year, although it shows a contraction of 1.5 % compared to the figure for the third quarter of 2022.

Source: dpa

(Reference image source: file)

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