It is the second consecutive rise in GDP after the fall registered in the second quarter of 2021 due to the second wave of Covid-19 infections in the fall, which had interrupted the previous three consecutive rises.
In the fourth quarter almost all the components evaluated by INDEC grew quarterly without seasonality.
The sectors that contributed the most to GDP growth in the year were Industry (contribution 2.5 pp; increase of 15.8%) and Commerce (contribution 1.7 pp; increase of 13.2%).
The Gross Domestic Product (GDP) grew 1.5% quarterly in the measurement without seasonality (se) in the fourth quarter of 2021. In the year-on-year comparison, the GDP expanded 8.6%, the fourth consecutive rise.
Economic activity closed 2021 with an annual average growth of 10.3%, the first rise after three years of decline (-9.9% in 2020; -2.0% in 2019; -2.6% in 2018)and maximum since the beginning of the series in 2004, surpassing the greatest previous variation registered in 2010 (+10.1%).
At In the fourth quarter almost all components grew quarterly without seasonality, with the exception of Exports, which fell -1.2% quarterly.., while Imports, in the opposite direction, expanded 7.0%.
Investment led the growth with a quarterly increase of 3.5% se On the other hand, Private Consumption expanded 2.2% quarterly se and Public Consumption 2.6% quarterly se
In the year-on-year comparison, Investment expanded 13.0% year-on-year and accumulates 5 quarters with double-digit increases.
Private Consumption grew 11.4% year-on-year and Public Consumption 10.7% year-on-year.
Exports grew (+23.0%) -the highest rise since the fourth quarter of 2010- as did Imports (+20.5%).
Growth in 2021
the year 2021 closed with a growth of Investment of 32.9% annual average, the first rise after three years in decline and the largest magnitude since the beginning of the series in 2004.
Private Consumption (+10.2%), Public Consumption (+7.8%), Exports (+9.0%) and Imports (+21.5%) also grew.
On the supply side, in the fourth quarter of 2021 all sectors grew year-on-year with the exception of Fishing, which fell -19.2% year-on-year. The biggest rise was in Hotels and restaurants (+60.9% year-on-year), while Mines and quarries (+18.2%), Transportation and communications (+14.9%), among others, also grew at double-digit rates. . For its part, Industry grew by 8.5% year-on-year and was the sector that contributed the most to GDP growth in the last quarter of the year (contribution of 1.5 pp).
The year 2021 closed with growth in all sectors except Agriculture, which remained almost at the same level as the previous year (-0.3% annual average).
The largest increases were registered in the sectors most affected by movement restrictions in 2020 (Other community and social service activities +29.4%; Construction +27.1%; Hotels and restaurants +23.5%).
The sectors that contributed the most to GDP growth in the year were Industry (contribution 2.5 pp; increase of 15.8%) and Commerce (contribution 1.7 pp; increase of 13.2%).
Source: Ambito
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