The economy of Argentina shrank 2.1 percent year-on-year in the fourth quarter of 2016, following a downwardly revised 3.7 percent decline in the previous period and worse than market expectations of a 2.0 percent contraction. Slower contraction was reported for: investment (-7.7 percent vs -8.2 percent in Q3) and private spending (-2.1 percent vs -2.9 percent) while government spending declined by 2.0 percent (+0.9 percent in Q3). Meanwhile, exports rebounded 7.7 percent (-1.8 percent in Q3) and imports grew by 2.1 percent (-0.7 percent in Q3). On a quarterly basis, the economy expanded by 0.5 percent compared to 0.1 percent growth in Q3. Considering full 2016, the GDP shrank 2.3 percent, following a 2.6 percent expansion in 2015. GDP Annual Growth Rate in Argentina averaged 2.57 percent from 1994 until 2016, reaching an all time high of 16.20 percent in the second quarter of 2010 and a record low of -16.30 percent in the first quarter of 2002.
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Argentina is the third largest economy in Latin America. The services sector is the most important and accounts for 64 percent of total GDP. The biggest segments within Services are: wholesale and retail trade and repairs (14 percent of total GDP); transport, warehousing and communications (12.2 percent); real estate (12 percent); education, health and social services (7.2 percent) and financial intermediation (7 percent). Industry constitutes 25 percent of the GDP and the largest segments within this sector are: manufacturing (16 percent of total GDP); construction (5 percent) and electricity, water and gas distribution (3 percent). The government fuels 7 percent of the GDP and the agriculture and fishing sector accounts for the remaining 4 percent of GDP. This page provides the latest reported value for – Argentina GDP Annual Growth Rate – plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Argentina GDP Annual Growth Rate – actual data, historical chart and calendar of releases – was last updated on March of 2017.