Argentina's industrial sector loses more than 30 companies a day

[Uncle Wong]

These numbers sound terrible. This article says 30 companies have been closing each day in Argentina for the past 1.5 years with a net loss of 236,000 jobs.

Argentina’s industrial sector loses more than 30 companies a day - UPI.com

More than 30 companies have been closing each day in Argentina for the past 1 1/2 years, with a net loss of more than 236,000 jobs, data show.

www.upi.com

 

[Bingo]

These numbers sound terrible. This article says 30 companies have been closing each day in Argentina for the past 1.5 years with a net loss of 236,000 jobs.

Argentina’s industrial sector loses more than 30 companies a day - UPI.com

More than 30 companies have been closing each day in Argentina for the past 1 1/2 years, with a net loss of more than 236,000 jobs, data show.

www.upi.com

This doesn't even count all the public jobs they have gotten rid of which probably needed to be done. Can't see this slowing down with all of the cheap imports flooding in. Plus the exchange rate is totally artificial and not competitive.



"Argentina is expensive in dollars. We have a high tax burden, elevated energy costs, no access to financing and labor charges that are far higher than in other countries," he said.
Letcher attributed the industrial crisis to a combination of factors. One of them is the drop in purchasing power, which has reduced sales by about 10% on average, with sharper declines in certain sectors.

He said the second and most damaging factor is the opening of imports. The third is an exchange rate that is uncompetitive for industrial production.

 

[lemonade]

They are saying this manufacturing sector crises is the worst in history for Argentina.

New wave of shutdowns and layoffs puts Argentine industry on alert - Buenos Aires Herald

The country's manufacturing sector is facing a crisis that some are calling the worst in its history

buenosairesherald.com

 

[Uncle Wong]

They are saying this manufacturing sector crises is the worst in history for Argentina.

New wave of shutdowns and layoffs puts Argentine industry on alert - Buenos Aires Herald

The country's manufacturing sector is facing a crisis that some are calling the worst in its history

buenosairesherald.com

Probably will get much worse. I don't see how any local manufacturers can compete with China.

 

[Bingo]

It sounds like this hasn't slowed down. More and more people losing their jobs. Where will these people find replacement jobs? Are there enough jobs to go around?

Report: Sharp drop in employees, employers in Milei’s first two years

Between November 2023 and September 2025, almost 281,000 registered jobs were lost with over 20,000 companies closing down, according to CEPA report based on government data.

www.batimes.com.ar

 

[VINO]

Starting to see more and more protests. I knew it was only a matter of time before this happened. Massive unemployment. I missed not having the protests but knew it was only a matter of time before it came back.

 

[MikeRoss]

It's not just the industrial sector. My friend just got laid off as a pharmacist. It sounds like many small companies are just laying off workers now because they aren't selling much.

 

[Floripa]

It's not just the industrial sector. My friend just got laid off as a pharmacist. It sounds like many small companies are just laying off workers now because they aren't selling much.

My friends in Flores tell me more and more stores are closing because of the drop in sales. This video shows many of the stores closing. Occupancy all around BA is at all time low I read.

 

[Cellular Shill]

My friends in Flores tell me more and more stores are closing because of the drop in sales. This video shows many of the stores closing. Occupancy all around BA is at all time low I read.

Many stores all over the city are closing. Not just in Flores. All over the city but here is another chain of stores that is folding.

 

[Nasdaq]

The issue is that many of these stores were on 3 year leases or multi-year leases. The rents were much lower than they are now. The economics worked on super low rents but there aren't enough margins with utilities going up, labor going up, rentals jumping up and cheap imported competition.

Our maid's sister had a store but she is closing. She said the rent jumped up a huge amount and they need to close. Happening all over

 

[Cardiac Arrest]

From the sounds of it all of them will end up closing and there doesn't seem to be any fear at all. Caputo just admitted on an interview he has NEVER bought any clothes from Argentina in his life because it was a rip off. 🤣 I do feel bad for the workers losing their jobs but so far no one I know here in Argentina is shedding any tears. They all feel like it's a rip off the prices they have been charged.

"Esta es la peor crisis que vivimos": la brutal transformación que enfrenta la industria textil argentina

Máquinas paradas, pymes cerradas y más de 18.000 empleos perdidos: la apertura de importaciones hunde al textil argentino y el Gobierno minimiza el impacto.

eleconomista.com.ar