Overview
- Industry’s share of GDP fell to 13.7% in 2025 from 16.5% in 2023, signaling a smaller role for manufacturing in the economy.
- Between Q3 2023 and Q3 2025, industrial value added contracted 8.3% while the overall economy grew 1.3%.
- Weakness was broad-based, with 22 of 24 industrial branches declining and average capacity use staying below 60% during 2024–2025.
- Capital goods output dropped about 25% as imports rose 77%, and used agricultural machinery imports jumped eightfold after Decree 273/2025.
- INDEC reports January 2026 industry output down 3.2% year over year but up 3.1% month over month, as the 2026 budget cuts about 40% of targeted support and channels incentives to the RIGI.