MercoPress. South Atlantic News Agency

Argentina's GDP grows 5.8%, Indec reports

Imports significantly outpaced exports, the national agency also noted

Argentina's Gross Domestic Product (GDP) grew by 5.8% year-over-year and 0.8% compared to the last quarter of 2024 in the first quarter of 2025, the National Institute of Statistics and Census (Indec) reported Monday in Buenos Aires.

Private consumption rose 2.9%, and gross fixed capital formation surged 9.8% quarterly and 31.8% annually, driven by increases in construction (8.4%), machinery and equipment (48.9%), and transportation equipment (74.7%).

Exports dropped 1.5% quarterly but grew 7.2% annually, while imports soared 42.8% interannually and 17.7% quarterly. Public consumption slightly declined by 0.1%.

Key sectors with strong growth included financial intermediation (27.2%), fishing (11.6%), and hotels and restaurants (9%), followed by mining and quarrying (+6.6%), construction (+6.1%), manufacturing (+5.1%), real estate, business and renting activities (+4.3%), agriculture, livestock, hunting and forestry (+3.7%), while declines were noted in private households with domestic service (-2.2%), public administration (-1.2%), and health and social work (-0.6%).