1945

After plunging by 11 % in 2002, Argentina’s gross domestic product (GDP) surged by almost 9% in 2003 and continued to rise in the initial months of 2004. In 2003, despite a considerable upturn in consumption, the national savings rate remained at around 20%, which was similar to its 2002 level and higher than the average for the period 1993-2001. Gross fixed capital formation bounced back significantly, growing by 38.2% in the course of the year, after a cumulative slump of about 56% in the period 1998-2002. Goods-producing sectors, especially construction and manufacturing, played a major role in the recovery of economic activity.

Related Subject(s): Economic and Social Development
Countries: Argentina
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