The Gross Domestic Product (GDP) of Argentina grew 10.3% in 2021, after fall 9.9% the previous year due to the pandemic of Covid-19, the Indec statistics institute reported this Wednesday.
In December, the Monthly Estimator of Economic Activity (EMAE) registered a rise of 9.8% year-on-year and an increase of 0.9% compared to November. If compared to December 2019, before the pandemic, the EMAE also grew 7.1 percent.
The annual rise of 10.3% it is the highest climb since the start of the series in 2004surpassing the previous maximum of 10.1% in 2010. It is also the first after three years of contractions of 2.6% of GDP in 2018, 2.2% in 2019 and 9.9% in 2020.
The GDP accumulates ten consecutive months of growth compared to the results of the previous year.
The statistics reinforce the signs that Argentina is overcoming the recession into which it fell in 2018 and which intensified in 2020, the first year of the Covid-19 pandemic, with a 9.9 percent drop in GDP.
The growth of economic activity is for the center-left government of Alberto Fernández one of the key points in the negotiations it is holding with the International Monetary Fund for a refinancing of the debt with the organization for some 44,000 million dollars. By 2022, the IMF projected Argentina’s growth of 3 percent.
In December 202113 of the 15 measured sectors by the EMAE showed a positive result in the comparison with December 2020, among which the category hotels and restaurants (+43.5%) and transportation and communications (+16.9%) stood out, while the manufacturing industry grew 9.9 percent.
The only sector that registered a drop in the year-on-year comparison was fishing (-4.7%), while financial intermediation remained unchanged (0.0%), the Indec statement specified.