Argentina’s economic activity shrinks in November, first decline of 2025

Argentina’s economic activity shrunk 0.3% in November compared with the same month last year, marking the first monthly contraction of 2025, data from Argentina’s national statistics agency showed on Wednesday, January 22.

The figure for Latin America’s third-largest economy was below the 1.7% figure predicted by analysts polled by Reuters, and well below the 3.2% recorded in October.

Five of the sectors that make up the monthly economic activity indicator (EMAE) posted annual declines, led by fishing which fell 25%, while manufacturing slid 8.2%, wholesale and retail commerce declined 6.4% and construction fell 2.3%.

“Despite November’s disappointing data, the outlook for 2026 is positive,” said consulting firm Orlando Ferreres and Associates, which had estimated 1.6% growth for the month.

Since taking office in late 2023, libertarian President Javier Milei looked to fix the South American’s No. 2 economy by boosting exports and slashing public spending. His policies have helped bring down inflation from a peak of nearly 290%.

The data came hours after Milei spoke at the World Economic Forum in Davos, where he blasted socialist governments and spoke in favor of cutting down market regulation.

Data collected and processed by Datamar show that between January and November 2025 Argentina exported 489,189 TEUs, representing a 10.7% surge compared with 2024. The main containerized cargoes were peanuts, accounting for 10.37% of the total, followed by frozen pork at 9% and sawn wood at 5%.

Below is the monthly history of Argentina’s container exports from 2022 onward, according to the DataLiner platform.

Argentina Container Exports | Jan 2022 – Nov 2025 | TEUs

Source: DataLiner (click here to request a demo)

Last month, Argentina posted a 3.3% expansion in its third quarter gross domestic product. Analysts have predicted 3.5% growth for the last quarter of 2025.

Reporting by Walter Bianchi and Natalia Siniawski;

Editing by Sarah Morland

Source: Reuters; adapted by DatamarNews

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