1.2 GDP of Argentina and its unique sectorial makeup
All sectors that make up Argentina’s GDP:
Sectorial Makeup: Predominant sectors include agriculture (soybeans, cereals, beef), manufacturing (automobiles, machinery), and services (finance, tourism).
Total GDP:
Total GDP: Approximately $641billion in 2023 according to World Bank data.
Primary Industry Share: Agriculture contributes significantly, with soybean production being a key player. In 2022, the share of agriculture in Argentina’s gross domestic product was 6.44%.
Secondary Industry Share: Manufacturing, particularly automobile and machinery production, holds importance. This industry contributed approximately 23.4% at the end of 2022.
Tertiary Industry Share: Services like finance and tourism significantly contribute to the GDP. This services sector contributed about 53.02 % at the end of 2022.
Figure 1: Argentina: GDP (gross domestic product) share of economic sectors from 2012 to 2022
GDP growth rate – YOY
Total GDP growth rate: The GDP growth rate of Argentina in 2022 was 5.24%, down 5.16% from 2021.
Primary Industry growth rate: The growth rate in the primary industry varies, influenced by agriculture and mining performance.
Secondary Industry growth rate: The secondary industry’s growth rate fluctuates, driven by manufacturing and construction trends.
Tertiary Industry growth rate: The tertiary industry typically experiences more stable growth, particularly in the services sector.