According to a report prepared by the Department of Economic Studies of the Argentine Confederation of Medium Enterprises (CAME), based on data published by the National Institute of Statistics and Census (INDEC), the Central Bank of the Argentine Republic (BCRA) and the Ministry of Labor, Employment and Social Security of the Nation, in 2021 all productive sectors, with the exception of agriculture, experienced improvements in their activity compared to 2020. Compared to 2019, the Evolution presents heterogeneities: industry and commerce lead the recovery, while restaurants and hotels show the greatest delay in reestablishing their activity levels.

Likewise, formal employment accumulated an average increase of 1.8% year-on-year in the first eleven months of 2021, also showing improvements in the segment of formal employees, where 47,300 workers still need to be incorporated to reach the levels recorded prior to the start of the pandemic. SMEs, for their part, represent the sector with the greatest lag in terms of employment recovery, compared to their situation in 2019.

The report also indicates an inflation projection of 55% for 2022, and a growth of 3% in GDP.

To access the full report, click click here.