In a context marked by fiscal order, the progressive deregulation of the market, and a change in the rules of the game in favor of predictability, gross fixed capital formation—a key indicator that measures investment—recorded year-on-year growth of 31.8% during the first quarter of 2025, according to the latest official data released by the National Institute of Statistics and Censuses (INDEC).
This investment record comes after years of chronic Kirchnerist stagnation, capital flight, and disinvestment, and represents the most eloquent sign of the new business climate caused by the national government. The momentum is not limited to nominal figures: it translates directly into more production, more activity, and more formal employment in key sectors.
Investment in equipment and transportation.
The improvement was led by the explosive growth in machinery, equipment, and transportation, showing an ongoing process of productive modernization. Within the machinery and equipment category, the domestic component grew by 19.8%, while the imported component soared by 64.5%. In transportation equipment, the results were even more striking: 79.1% growth in the domestic component and 66.2% in the imported component, figures that consolidate a true investment boom.
Meanwhile, investment in construction grew by 8.4%, while there was a decrease of 8.7% in other types of construction, probably reflecting greater selectivity and efficiency in capital allocation.
The comparison with the previous quarter—seasonally adjusted—is also positive: gross fixed capital formation grew by a solid 9.8% compared to the last quarter of 2024, confirming that this is not a one-off rebound, but rather a sustained upward trajectory.
