Argentina's Economy Surprises With 2.3% Growth

Argentina’s GDP expanded by 2.3% during the first quarter, outpacing analyst projections of 1.7%. Driven by a robust agricultural harvest and a significant surge in export activity, the performance signals a resilient start to the year for Latin America’s third-largest economy despite pockets of industrial contraction.

Editorial·June 23, 2026·reads: 2,368

Argentina's Economy Surprises With 2.3% Growth

The growth was underpinned by standout performances in primary sectors. The fishing industry led the way with a 27.5% increase, while agriculture, livestock, and hunting expanded by 18.1%. Mining and quarrying also contributed to the momentum, rising 12.3% year-on-year. Beyond raw production, private consumption climbed 2.7%, fueled largely by a demand for imported goods such as vehicles.

Financial services grew by 7.5%, providing a cushion for the broader economy. However, not all sectors shared in the gains. Manufacturing output fell by 1.7%, and public administration saw a 1.4% decline. When adjusted for seasonal factors, the economy grew 0.7% over the final quarter of 2025. With current trends, market observers remain cautiously optimistic, as the central bank’s June survey suggests a full-year growth forecast averaging 2.9% for 2026.