The economic activity of the city of Buenos Aires had a growth of 4.7% in 2022 compared to the previous year, while in the fourth quarter showed a year-on-year improvement of 2.9%according to what was reported by the Buenos Aires General Directorate of Statistics and Censuses.
The agency’s report indicated that “the sectors that stood out above the rest were electricity, gas and water and hotels and restaurantswhich begins to recover the activity values obtained in years prior to the pandemic”.
In the sectoral classification, business and services (includes commerce, hotels and restaurants, transport and communications, financial intermediation, real estate, business, community, personal and domestic services) led the increases with the 3.6% relative to the fourth quarter of 2021, followed by production of goods (manufacturing industry, electricity, gas and water, and construction) with the 2% and finally, public administration, health and education with 0.8%.
Regarding the incidence of the main branches in the general 2.9% of the October-December period, those with the greatest contribution were food and beverage sales service, computer services and monetary and financial intermediation servicewhile the food and beverage production had a negative impact.
The quarterly evolution of economic activity in the district shows a downward trend. growth attenuationpartly due to the change in the base of comparison, if one takes into account the general drop caused from the second quarter of 2021 by the outbreak of the coronavirus pandemic and the declaration of Social, Preventive and Compulsory Isolation (ASPO).
This is evident if one looks at the high growth rates in the second half of 2021with 12.4% and 7.2% in the third and fourth quarters, respectively.
In 2022already with a higher base of comparison due to the passing of the ASPO, the year-on-year growth was 4.3% in the first quarter, 6.3% in the second, 5.3% in the third and 2.9% in the fourth and last
The indicator can be taken as equivalent to the one that, for the whole country, measures the National Institute of Statistics and Censuses (Indec), which on March 22 reported a rise in Gross Domestic Product (GDP) of 5.2% in 2022 and 1.9% in the last quarter.
In this regard, the national data made it clear that the sector that grew the most was the Hotels and restaurants (35%), in which the city of Buenos Aires has a great predominance, while the most pronounced drop was in agriculture, livestock, hunting and forestry (-4.1%)with a presence throughout the country, except in the Buenos Aires district.
Source: Ambito
