GDP grew by 2.3% year-on-year and 0.7% compared to the previous quarter, while private consumption increased by 2.7%, and both indicators reached record levels, thanks to Javier Milei
Real estate, business, and rental activities: 0.9%.
Social and health services: 0.5%.
Even in sectors facing challenges, such as Manufacturing Industry (which fell by 1.7%) and Commerce (with a slight contraction of 0.3%), the overall dynamism of the economy manages to offset the variations. Particularly noteworthy is the decline of 1.4% in Public Administration, reflecting the government's unwavering commitment to reducing the burden of the state on the shoulders of taxpayers.
In a compelling demonstration of the effectiveness of the economic freedom model, the administration of President Javier Milei has managed to unleash the productive forces of the country, achieving milestones never seen before in national history. The Argentine economy has entered a phase of unprecedented splendor. According to the latest report from Indec, the Gross Domestic Product (GDP) reached a new historical maximum during the first quarter of 2026.
This result is not a coincidence, but the consequence of an expansive streak that has already accumulated its eighth consecutive positive variation in the trend-cycle indicator, a series that has been uninterrupted since mid-2024.
Luis Caputo on X:
Under the leadership of the Minister of Economy, Luis Caputo, activity recorded a growth of 0.7% compared to the previous quarter and an expansion of 2.3% in the year-on-year comparison. Caputo himself celebrated these results on his social media, stating: “The level of activity reached a new historical record in the first quarter of 2026” and highlighting the “robustness of the expansive cycle that the economy is experiencing”.
Private consumption:
One of the pillars of this success is private consumption, which also reached a historical maximum both in the seasonally adjusted series and in the trend-cycle indicator. With a year-on-year increase of 2.7%, the well-being of Argentines is reflected in the market, largely driven by the economic opening that allowed the entry of imported goods and automobiles.
The president, Javier Milei
Alongside this growth in consumption, the external sector proved to be a fundamental engine of demand. Exports of real goods and services skyrocketed by 9.8% year-on-year, demonstrating that an Argentina integrated into the world is a rich Argentina. In contrast, and as part of the necessary adjustment to eradicate the deficit, public consumption fell by 0.9%, while investment and imports showed negative variations of 11.6% and 7.5%, respectively.
The economic recovery is total and encompasses almost the entire productive spectrum. Indec noted that 12 of the 16 sectors of activity recorded expansion compared to the previous year. The primary sectors, now free from the shackles of the past, led the growth ranking:
Fishing: An impressive 27.5% year-on-year expansion.
Agriculture, livestock, hunting, and forestry: Grew by 18.1%, consolidating an acceleration that had already been emerging at the end of 2025.
Mining and quarrying: Recorded an increase of 12.3%.
Together, these three sectors contributed more than one percentage point to the total growth of GDP. In the realm of services and other sectors, the numbers are also encouraging:
