From the roaring assembly lines of Toyota producing 120,000 vehicles to the vast Vaca Muerta fields powering half the nation’s gas, Argentina's industrial engine is not just running—it’s accelerating, as evidenced by a manufacturing sector that contributed a formidable ARS 12.5 trillion to the economy in 2022.
Key Takeaways
- In 2022, Argentina's manufacturing sector contributed 16.2% to the total GDP, with a total output value of ARS 12.5 trillion
- Automotive production in Argentina reached 462,500 vehicles in 2023, a 17.5% increase from 2022, led by Toyota with 120,000 units
- Food processing industry output grew 8.4% in 2023, processing 52 million tons of soybeans into oil and meal
- Argentina's copper mine production reached 180,000 tons in 2023, up 25% from 2022, primarily from Josemaria project
- Lithium production totaled 40,000 tons of LCE in 2022, with Cauchari-Olaroz ramping up
- Gold output was 55 tons in 2023, led by Yanacocha and Cerro Vanguardia mines
- Argentina's shale gas production from Vaca Muerta reached 65 billion m³ in 2023, 50% of total gas
- Crude oil output totaled 12 million tons in 2022, with Vaca Muerta contributing 60%
- Electricity generation was 145 TWh in 2023, 12% from renewables
- Construction industry grew 12.4% in real terms in Q3 2023, driven by housing
- Building permits issued totaled 150,000 units in 2022, value ARS 2 trillion
- Road construction output 5,000 km in 2023, investment $3 billion
- Petrochemical production of ethylene reached 1.2 million tons in 2023
- Fertilizer output totaled 5 million tons in 2022, mainly urea and DAP
- Petrochemical exports $2.5 billion in 2023, to Brazil and Asia
Argentina's industrial and mining sectors show strong growth across diverse manufacturing and energy production.
Chemicals
- Petrochemical production of ethylene reached 1.2 million tons in 2023
- Fertilizer output totaled 5 million tons in 2022, mainly urea and DAP
- Petrochemical exports $2.5 billion in 2023, to Brazil and Asia
- Polymer production 800,000 tons PE in 2022
- Sulfuric acid manufacturing 1.5 million tons in 2023, for mining
- Paint production 400,000 tons in 2022
- Detergent output 300,000 tons in 2023, household segment 70%
- Pharmaceutical chemicals produced 50,000 tons APIs in 2022
- Ammonia production 1 million tons in 2023, feedstock for fertilizers
- Chlorine output 200,000 tons in 2022, for water treatment
- Soda ash mining and processing 600,000 tons in 2023
- Adhesives manufacturing 150,000 tons in 2022
- Explosives production for mining 20,000 tons in 2023
- Dyes and pigments output 10,000 tons in 2022, for textiles
- Solvents production 100,000 tons in 2023
- Rubber chemicals 50,000 tons in 2022
- Pesticides manufacturing 30,000 tons active ingredients in 2023
- Fine chemicals for pharma $500 million revenue in 2022
- Industrial gases production 2 million tons in 2023, oxygen 60%
- Catalysts output 5,000 tons in 2022, for petrochemicals
Chemicals Interpretation
From growing crops with its massive fertilizer output to mining them with its explosives and sulfuric acid, and then washing, painting, and gluing the results, Argentina's industrial sector is essentially running a very serious, multi-billion dollar errand list for the entire economy.
Construction
- Construction industry grew 12.4% in real terms in Q3 2023, driven by housing
- Building permits issued totaled 150,000 units in 2022, value ARS 2 trillion
- Road construction output 5,000 km in 2023, investment $3 billion
- Residential construction starts 120,000 homes in 2022
- Cement consumption reached 10.5 million tons in 2023, up 15%
- Steel rebar production for construction 4 million tons in 2022
- Public works investment ARS 1.5 trillion in 2023, 40% infrastructure
- Housing deficit addressed by 50,000 ProCreAr units in 2022
- Bridge construction added 200 km in 2023
- Commercial building floor area 2 million m² in 2022
- Railway infrastructure rehab 1,500 km in 2023, cost $1 billion
- Port expansion added 500,000 TEU capacity in 2022
- Airport construction investment $800 million in 2023, Ezeiza terminal
- Waterworks built 1,000 km pipelines in 2022
- Sewerage systems expanded to cover 5 million more people in 2023
- Dam construction progress on Los Quiroga 30% complete in 2022
- Urban renewal projects 100 in 2023, ARS 500 billion
- Industrial parks developed 20 new sites in 2022, 1,000 ha
- Hotel construction added 10,000 rooms in 2023
- School buildings constructed 500 in 2022
- Hospital expansions 50 projects in 2023, 5,000 beds
Construction Interpretation
Argentina's construction industry is building at a breakneck pace—literally pouring concrete and forging steel from housing to highways—proving that even in volatile times, the national pastime is laying foundations, not just talking about them.
Energy
- Argentina's shale gas production from Vaca Muerta reached 65 billion m³ in 2023, 50% of total gas
- Crude oil output totaled 12 million tons in 2022, with Vaca Muerta contributing 60%
- Electricity generation was 145 TWh in 2023, 12% from renewables
- Natural gas exports hit 10 billion m³ in 2022 via LNG and pipeline to Chile
- Installed renewable capacity reached 15 GW in 2023, led by wind 4 GW
- Hydroelectric production was 25 TWh in 2022, from Yacyretá and others
- Solar PV capacity installed 2.5 GW in 2023, growth 30% YoY
- Thermal power plants generated 90 TWh in 2022, efficiency 35%
- Biofuel production reached 3.2 billion liters of biodiesel in 2023
- Nuclear electricity output was 7.5 TWh in 2022 from Atucha and Embalse
- Coal consumption fell to 1 million tons in 2023, mostly imported
- Wind power generation hit 12 TWh in 2022, capacity factor 35%
- Oil refinery throughput was 22 million m³ in 2023, utilization 85%
- LNG regasification capacity 22 million m³/day in 2022
- Energy exports value $8 billion in 2023, mainly gas and oil
- Household electricity consumption 120 TWh in 2022, average 3,200 kWh/user
- Pumped storage hydro capacity 1 GW in 2023
- Geothermal exploration potential 500 MW in 2022, pilot stage
- Energy efficiency programs saved 5 TWh in 2023
Energy Interpretation
Argentina is riding its fossil-fueled horse, Vaca Muerta, to an energy windfall, but it's wisely tethering it to a growing stable of renewables to ensure it doesn't gallop off a climate cliff.
Manufacturing
- In 2022, Argentina's manufacturing sector contributed 16.2% to the total GDP, with a total output value of ARS 12.5 trillion
- Automotive production in Argentina reached 462,500 vehicles in 2023, a 17.5% increase from 2022, led by Toyota with 120,000 units
- Food processing industry output grew 8.4% in 2023, processing 52 million tons of soybeans into oil and meal
- Argentina produced 1.28 million tons of cement in 2022, with a capacity utilization of 72%
- Textile manufacturing employed 120,000 workers in 2023, exporting $1.2 billion worth of yarns and fabrics
- Pharmaceutical production reached 250 million units of medicines in 2022, with 70% local content
- Aluminum production totaled 320,000 tons in 2023 from Aluar smelters, up 5% YoY
- Paper and pulp industry output was 1.1 million tons in 2022, exporting 60% to Brazil
- Glass manufacturing produced 1.2 million tons in 2023, primarily for construction and packaging
- Furniture industry sales reached ARS 450 billion in 2022, with 40% export-oriented
- Electronics assembly output included 5 million smartphones in 2023, mainly for local market
- Bicycle production hit 1.8 million units in 2022, 25% exported to Europe
- Toy manufacturing generated ARS 80 billion in revenue in 2023, employing 15,000
- Leather goods production processed 12 million hides in 2022, exporting $500 million
- Plastic products output was 2.5 million tons in 2023, with recycling rate of 18%
- Rubber tire production reached 18 million units in 2022, supplying 85% domestic demand
- Machinery manufacturing exported $4.2 billion in 2023, focused on agro-machinery
- Appliance production included 2.5 million refrigerators in 2022, led by Newsan
- Shipbuilding output was 15 vessels in 2023, totaling 50,000 GT
- Printing industry produced 1.5 million tons of paper products in 2022
- Ceramics tile production hit 45 million m² in 2023, exporting to Mercosur
- Paints and varnishes output reached 350,000 tons in 2022
- Jewelry manufacturing used 10 tons of gold in 2023, with $300 million exports
- Musical instruments production totaled 50,000 units in 2022, mainly guitars
- Sports equipment output included 1 million soccer balls in 2023
- Cosmetics manufacturing generated ARS 200 billion in 2022, exporting 20%
- Medical devices production reached 100 million units in 2023, 60% exported
- Optical goods output was 2 million lenses in 2022
- Watch manufacturing produced 500,000 units in 2023, luxury segment growth 12%
Manufacturing Interpretation
Argentina’s industrial sector is a bustling and diverse engine, skillfully driving cars, processing soybeans, and building everything from cement to guitars, yet it still hums with untapped potential as it navigates the complex dance of domestic demand and export ambition.
Mining
- Argentina's copper mine production reached 180,000 tons in 2023, up 25% from 2022, primarily from Josemaria project
- Lithium production totaled 40,000 tons of LCE in 2022, with Cauchari-Olaroz ramping up
- Gold output was 55 tons in 2023, led by Yanacocha and Cerro Vanguardia mines
- Silver production hit 1,200 tons in 2022, from Navojo and Pascua Lama areas
- Iron ore extraction reached 8 million tons in 2023, mainly Sierra Grande deposit
- Zinc production was 25,000 tons in 2022, from Alto Perú mine
- Lead output totaled 15,000 tons in 2023, associated with zinc deposits
- Boron mining produced 500,000 tons in 2022, from Tincalayu mine
- Uranium exploration yielded 100 tons U3O8 equivalent in 2023
- Talc production reached 120,000 tons in 2022, exported to Europe
- Limestone quarrying output was 25 million tons in 2023, for cement industry
- Granite and marble extraction totaled 1.5 million m³ in 2022
- Gypsum production hit 1.2 million tons in 2023, from Patagonia deposits
- Salt extraction reached 800,000 tons in 2022, from Salar del Hombre Muerto
- Kaolin clay mining output was 300,000 tons in 2023, for ceramics
- Feldspar production totaled 150,000 tons in 2022
- Phosphate rock extraction was 50,000 tons in 2023, pilot projects
- Molybdenum output reached 2,000 tons in 2022, byproduct of copper
- Mining investment in Argentina was $3.2 billion in 2023, 40% in copper projects
- Number of active mines: 1,200 in 2022, employing 100,000 directly
Mining Interpretation
Argentina is quietly assembling a treasure chest fit for a modern king, with copper its new crown jewel, lithium its liquid gold, and a supporting cast of metals and minerals proving there's serious fortune to be found beneath its famously dramatic surface.
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