The Argentine industry grew in March, and the installed capacity approached 60%.

The Argentine manufacturing industry showed a strong growth in March and approached 60% of its installed capacity utilization, in a positive sign for productive activity. According to INDEC, the sector operated at 59.8% of its maximum potential, marking an increase of more than five percentage points both compared to February and in comparison with the same month in 2025.

The figure represented a monthly improvement of 5.2 percentage points compared to the 54.6% recorded in February, while in year-on-year terms, the advance was 5.4 points. With this result, the industry managed to regain dynamism after a more moderate start to the year and once again showed solid numbers in several strategic sectors.

The growth was mainly driven by oil refining, basic metal industries, chemical products, and the food and beverage sector. All of them operated above the general average and pulled the index upward.

Oil refining once again led the utilization levels, with 86% of installed capacity in use, well above the 75.8% recorded a year ago. The increase was due to higher processing of crude oil, in line with the energy growth that Argentina is experiencing thanks to the development of Vaca Muerta.

Another sector with better performance was substances and chemical products, which reached 69.5% utilization, compared to 53.8% in March 2025. The rebound was linked to greater processing of plastic raw materials, synthetic rubber, and basic chemical products.

Meanwhile, the basic metal industries reached 73.3% of installed capacity usage, driven by a strong increase in crude steel production, which grew 17.1% year-on-year. Food and beverages also showed a significant improvement, rising from 57.6% to 61.6%, thanks to the increase in oilseed grinding and beverage production.

The official report also reflected improvements in sectors associated with construction. Non-metallic mineral products, mainly linked to cement and other materials, raised their utilization from 51.7% to 56.6%. Although some sectors still remain below the general average, the March figure showed a significant change compared to previous months and consolidated a broader industrial improvement.