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Argentina INDEC Manufacturing Industrial Production Index (IPI) Report - 14 out of 16 Manufacturing Divisions Registering YoY declines in February 2026
General Industrial Performance
Year-over-Year (YoY): In February 2026, the general manufacturing index experienced a contraction of 8.7%compared to the same month in 2025.
Year-to-Date (YTD): During the first two months of 2026, industrial production accumulated a decline of 6.0%compared to the same period in the previous year.
Month-over-Month: The seasonally adjusted series recorded a negative variation of 4.0% when compared to January 2026. The trend-cycle index, however, showed a marginal positive variation of 0.2% for the month.
Sectoral Breakdown
The industrial downturn was broad-based, with 14 out of the 16 manufacturing divisions registering year-over-year declines in February 2026.
Sectors with the Largest Declines:
Textiles: This sector experienced the sharpest drop, plummeting by 33.2% YoY. This contraction was heavily influenced by lower domestic demand and increased competition from imported goods.
Machinery & Equipment: Production fell by 29.4% YoY. The decline was primarily driven by a 37.7% drop in agricultural machinery (including tractors, harvesters, and seeders) and a 38.0% drop in domestic appliances, which faced increased pressure from imports.
Motor Vehicles & Auto Parts: The sector dropped by 24.6% YoY. Vehicle manufacturing alone fell by 29.9%, influenced by declining domestic sales and a drop in exports (particularly to Brazil). Auto parts production contracted by 22.1%.
Clothing, Leather, & Footwear: Production decreased by 18.2% YoY. Footwear manufacturing fell by 26.6%, while clothing dropped by 14.2%, with the industry citing increased import competition as a major factor.
Food & Beverages: The division contracted by 6.9% YoY. The decline was heavily impacted by a 21.9% drop in oilseed milling and an 8.2% drop in beef production. However, dairy products provided a positive offset within this category, growing 8.1% YoY due to higher milk powder and butter production.
Sectors with Positive Growth:
Petroleum Refining, Coke, & Nuclear Fuel: This division was the strongest performer, registering a 19.7% YoY growth.
Chemicals & Chemical Products: The sector saw a moderate increase of 3.7% YoY.
PDF: https://www.indec.gob.ar/uploads/informesdeprensa/ipi_manufacturero_04_261FC11F2AA9.pdf
General Industrial Performance
Year-over-Year (YoY): In February 2026, the general manufacturing index experienced a contraction of 8.7%compared to the same month in 2025.
Year-to-Date (YTD): During the first two months of 2026, industrial production accumulated a decline of 6.0%compared to the same period in the previous year.
Month-over-Month: The seasonally adjusted series recorded a negative variation of 4.0% when compared to January 2026. The trend-cycle index, however, showed a marginal positive variation of 0.2% for the month.
Sectoral Breakdown
The industrial downturn was broad-based, with 14 out of the 16 manufacturing divisions registering year-over-year declines in February 2026.
Sectors with the Largest Declines:
Textiles: This sector experienced the sharpest drop, plummeting by 33.2% YoY. This contraction was heavily influenced by lower domestic demand and increased competition from imported goods.
Machinery & Equipment: Production fell by 29.4% YoY. The decline was primarily driven by a 37.7% drop in agricultural machinery (including tractors, harvesters, and seeders) and a 38.0% drop in domestic appliances, which faced increased pressure from imports.
Motor Vehicles & Auto Parts: The sector dropped by 24.6% YoY. Vehicle manufacturing alone fell by 29.9%, influenced by declining domestic sales and a drop in exports (particularly to Brazil). Auto parts production contracted by 22.1%.
Clothing, Leather, & Footwear: Production decreased by 18.2% YoY. Footwear manufacturing fell by 26.6%, while clothing dropped by 14.2%, with the industry citing increased import competition as a major factor.
Food & Beverages: The division contracted by 6.9% YoY. The decline was heavily impacted by a 21.9% drop in oilseed milling and an 8.2% drop in beef production. However, dairy products provided a positive offset within this category, growing 8.1% YoY due to higher milk powder and butter production.
Sectors with Positive Growth:
Petroleum Refining, Coke, & Nuclear Fuel: This division was the strongest performer, registering a 19.7% YoY growth.
Chemicals & Chemical Products: The sector saw a moderate increase of 3.7% YoY.
PDF: https://www.indec.gob.ar/uploads/informesdeprensa/ipi_manufacturero_04_261FC11F2AA9.pdf
