Resumen Estadistico

RESUMEN ESTADISTICO
NICOLAS CACHANOSKY
METROPOLITAN STATE UNIVERSITY OF DENVER
July, 2014
CONTENIDOS
Cuentas Nacionales
p. 2
Banco Central de la Repblica Argentina
p. 8
Sistema Financiero
p. 12
Inflacin y Tipo de Cambio
p. 16
Resumen Fiscal
p.18
Mercado Laboral e Indicadores Sociales
p. 21
Internacional
p. 23
Fuentes
p. 28
Datos de Contacto
p. 29
NUEVAS SERIES
Inflacion 12M
Inflacion Acumulada
Inflacion CABA
Cobros por Exportaciones
Pago por Importaciones
Sitio web: http://puntodevistaeconomico.wordpress.com/resumen-estadistico-argentina
RESUMEN ESTADISTICO
2014 | 2do Trimestre
1 | CUENTAS NACIONALES Y ACTIVIDAD ECONOMICA
PBI [OFICIAL] | VALORES

PBI
PBI Sector Privado
Consumo
Gasto Publico
Inversin
Exportaciones netas
2010
422.1
369.0
274.4
53.1
96.4
-4.3
2011
459.6
400.7
303.6
58.9
112.4
-12.4
2012
468.3
405.6
317.1
62.7
106.9
-12.6
54.7
59.0
57.1
69.5
53.3
65.9
2.5
392.8
1,442.7
1,342.6
-2.9
417.6
1,842.0
1,673.8
-5.8
419.3
2,164.2
1,937.6
Exportaciones
Importaciones
Discrepancia Estadstica
PBI Estimacin Privada
PBI Nominal
PBI Nominal Estimacion Priv.
2013
489.3
423.2
336.4
66.1
112.9
-16.5
PBI [OFICIAL] | CAMBIO %

PBI
PBI Sector Privado
Consumo
Gasto Publico
Inversin
Exportaciones netas
54.5 Exportaciones
71.0 Importaciones
-9.6
432.3
2,632.7
2,325.7
PBI Estimacin Privada
PBI Nominal
PBI Nominal Estimacion Priv.
2011
8.9%
8.6%
10.6%
10.9%
16.6%
188.4%
2012
1.9%
1.2%
4.4%
6.5%
-4.9%
1.6%
2013
4.5%
4.3%
6.1%
5.4%
5.6%
31.0%
4.4%
17.8%
-6.7%
-5.2%
2.3%
7.7%
6.3%
27.7%
24.7%
0.4%
17.5%
15.8%
3.1%
21.6%
20.0%
En miles de millones de ARS (Base 1993)

PBI REAL (BASE 1993) | DEMANDA
Consumo
600
500
Inversin
PBI REAL (BASE 1993) | TASA DE CRECIMIENTO
Gasto Publico
PBI Sector Privado
Exportaciones netas
20%
400
200
0
-100
Importaciones
PBI
Inversin
Consumo
Exportaciones
10%
300
100
Gasto Publico
0%
2010
2011
ACT. ECON. | VALORES

Sector Bienes
Agricutlura, ganaderia, otros
Pesca
Minas y Canteras
Manufacturas
Electricidad, Agua y Gas
Construccin
Sector Servicios
Comercio
Hoteles y Restaurantes
Transp., Almac. y Comunicac.
Intermediacin Financiera
Actividades Inmobiliarias
Adm. Pblica y Defensa
Enseanza, Serv. Soc. y Salud
Otras Act. Sociales y Domest.
Bienes + Servicios
Servicios de Int. Financiera
Valor Agregado Bruto
Impuesto al Valor Agregado
Impuesto a las Importaciones
PBI
2012
2010
127.6
20.0
0.5
5.1
67.5
10.6
23.9
263.2
56.2
10.2
49.6
22.2
53.0
18.5
30.8
22.7
390.8
4.3
386.5
28.4
7.0
421.9
2011
137.1
19.6
0.5
4.9
75.0
11.0
26.1
287.3
64.5
11.0
54.2
26.9
55.7
19.2
32.2
23.6
424.4
5.5
418.9
32.2
8.5
459.6
2013
2012
134.5
17.3
0.5
5.0
74.7
11.6
25.4
299.2
65.7
11.1
56.9
32.2
55.9
20.0
33.5
23.9
433.7
6.9
426.8
33.3
8.2
468.3
2013
140.4
22.0
0.6
4.8
76.1
11.9
25.0
314.5
70.4
11.2
59.4
38.6
56.6
20.5
34.1
23.7
454.9
8.6
446.3
33.8
9.2
489.3
-10%
2011
ACT. ECON. | CRECIMIENTO

Sector Bienes
Agricutlura, ganaderia, otros
Pesca
Minas y Canteras
Manufacturas
Electricidad, Agua y Gas
Construccin
Sector Servicios
Comercio
Hoteles y Restaurantes
Transp., Almac. y Comunicac.
Intermediacin Financiera
Actividades Inmobiliarias
Adm. Pblica y Defensa
Enseanza, Serv. Soc. y Salud
Otras Act. Sociales y Domest.
Bienes + Servicios
Servicios de Int. Financiera
Valor Agregado Bruto
Impuesto al Valor Agregado
Impuesto a las Importaciones
PBI
2012
2011
7.4%
-2.0%
0.0%
-3.9%
11.1%
3.8%
9.2%
9.2%
14.8%
7.8%
9.3%
21.2%
5.1%
3.8%
4.5%
4.0%
8.6%
27.9%
8.4%
13.4%
21.4%
8.9%
2013
2012
-1.9%
-11.7%
0.0%
2.0%
-0.4%
5.5%
-2.7%
4.1%
1.9%
0.9%
5.0%
19.7%
0.4%
4.2%
4.0%
1.3%
2.2%
25.5%
1.9%
3.4%
-3.5%
1.9%
2013
4.4%
27.2%
20.0%
-4.0%
1.9%
2.6%
-1.6%
5.1%
7.2%
0.9%
4.4%
19.9%
1.3%
2.5%
1.8%
-0.8%
4.9%
24.6%
4.6%
1.5%
12.2%
4.5%
En miles de millones de ARS (Base 1993)
RESUMEN ESTADISTICO
INDUSTRIA Y CONST.
EMAE
EMI
ISAC
IGA [OJF]
IPI [OJF]
Indice Lider [UTDT]
EMAE
EMI
ISAC
IGA [OJF]
IPI [OJF]
Indice Lider [UTDT]
2010 = 100
2010
100
100
100
100
100
100
-
2011
106
102
103
103
98
92
5.9%
2.1%
2.6%
2.7%
-1.7%
-8.4%
2012
108
99
98
102
98
83
1.8%
-3.2%
-4.2%
-0.2%
-0.3%
-9.3%
2013
111
93
103
104
98
91
2.9%
-5.5%
4.5%
1.8%
0.2%
9.5%
Mar-13
Jun-13
Sep-13 Dec-13
Mar-14
Jun-14
Sep-14 Dec-14
2014-T1 2014-T2 2014-T3 2014-T4
110
94
101
105
97
87
0.3%
-5.9%
-5.0%
-0.2%
-4.6%
1.0%
Mar-14
110
94
101
105
97
87
0.3%
-5.9%
-5.0%
-0.2%
-4.6%
1.0%
VAR TRIMESTRE PERIODO ANTERIOR
2009
10,900
18,500
-1,300
-9,000
2,700
100
-9,400
-1,000
-700
-7,700
-300
1,300
BALANCE DE PAGOS [INDEC]

Cuenta Corriente
Mercancias
Servicios
Rentas
Transferencias
Cuenta Capital
Cuenta Financiera
Sector Bancario
Sector Pblico no Financiero
Sector Privado no Financiero
Errores y Omisiones
Variacin de Reservas
2010
-800
14,300
-1,200
-13,500
-400
100
6,800
-2,700
2,500
7,000
-2,000
4,100
2011
-2,200
12,900
-2,200
-12,400
-500
100
1,600
5,000
-3,400
0
-4,200
-4,700
2012
0
15,400
-3,400
-11,500
-500
0
-600
-1,600
-3,600
4,600
-2,700
-3,300
Apr-14
111
94
105
105
99
87
-0.5%
-4.2%
1.0%
0.4%
-4.3%
-3.3%
VAR 12 MESES
Mar
Mar
Jun
Sep
Dec
2013 2014-T1 2014-T2 2014-T3 2014-T4
-4,600
-3,300
11,100
800
-4,300
-1,300
-10,600
-2,800
-800
0
0
0
-3,900
-700
-1,200
-600
200
-100
-2,900
0
-3,300
200
-11,800
-3,800
2014
-3,300
800
-1,300
-2,800
0
0
-700
-600
-100
0
200
-3,800
En millones de USD.
INDICE DE TERMINOS DEL INTERCAMBIO
1990 T1
1991 T3
1993 T1
1994 T3
1996 T1
1997 T3
1999 T1
2000 T3
2002 T1
2003 T3
2005 T1
2006 T3
2008 T1
2009 T3
2011 T1
2012 T3
2013 T1
180
160
140
120
100
80
60
40
20
0
Jul-13
Jul-10
Jan-12
Jul-07
Jan-09
Jul-04
Jan-06
Jan-03
Jul-01
Jul-98
Jan-00
Jul-95
Jan-97
Jul-92
Jan-91
Jan-94
INDICE DE TcREAL MULTILATERAL (DIC 2001 = 100)
450
400
350
300
250
200
150
100
50
0
RESUMEN ESTADISTICO
EXPORT. E IMPORT. DE BIENES

Exportaciones [FOB]
Productos Primarios
MOA
MOI
Combustibles y Energia
Importaciones [CIF]
Bienes de Capital
Bienes Intermedios
Combustibles
Accesorios Para Bs. de Cap.
Otros
Fletes y Seguros
Importaciones [FOB]
Exportaciones Netas
Exportaciones [FOB]
Productos Primarios
MOA
MOI
Combustibles y Energia
Importaciones [CIF]
Bienes de Capital
Bienes Intermedios
Combustibles
Accesorios Para Bs. de Cap.
Otros
Fletes y Seguros
Importaciones [FOB]
Exportaciones Netas
2009
55,700
9,300
21,200
18,700
6,500
38,700
8,700
12,600
2,600
7,200
7,600
1,600
37,100
18,600
-
2010
68,100
15,100
22,700
23,800
6,500
56,400
11,600
17,700
4,500
11,500
11,100
2,600
53,800
14,300
22%
62%
7%
27%
0%
46%
33%
40%
73%
60%
46%
63%
45%
-23%
2011
84,100
20,300
28,200
28,900
6,700
74,100
14,000
21,800
9,800
14,900
13,600
3,200
70,900
13,200
23%
34%
24%
21%
3%
31%
21%
23%
118%
30%
23%
23%
32%
-8%
Mar
Jun
Sep
Dec
2012
2013 2014-T1 2014-T2 2014-T3 2014-T4
81,000
81,700
15,900
19,100
18,700
2,700
27,500
28,900
5,800
27,500
28,400
5,900
6,900
5,700
1,500
58,600 129,600
14,700
11,800
12,100
2,800
20,000
19,500
4,600
9,300
11,300
2,300
14,500
16,000
3,300
3,000
70,700
1,700
3,000
3,100
700
55,600 126,500
14,000
25,400 -44,800
1,900
-4%
1%
-9.1%
-6%
-2% -38.6%
-2%
5%
8.7%
-5%
3%
-7.2%
3%
-17%
7.1%
-21%
121%
-1.3%
-16%
3%
7.4%
-8%
-3%
0.6%
-5%
22%
10.9%
-3%
10%
-6.6%
-78%
2257% -20.7%
-6%
3%
-1.0%
-22%
128%
7.6%
92%
-276% -91.9%
2014
15,900
2,700
5,800
5,900
1,500
14,700
2,800
4,600
2,300
3,300
1,700
700
14,000
1,900
-21%
-1%
8%
-92%
En millones de USD
EXPORTACIONES E IMPORTACIONES DE BIENES

Exportaciones [FOB]
Importaciones [FOB]
Exportaciones Netas
140,000
30,000
120,000
20,000
100,000
10,000
0
80,000
-10,000
60,000
-20,000
40,000
-30,000
20,000
-40,000
-50,000
2009
2010
2011
2012
2013
RESUMEN ESTADISTICO
BCE. CAMBIARIO [ANUAL]

Cobro por Exportaciones
Oleaginosas y Cereales
Industria Automotriz
Alimentos, Bebidas y Tabaco
Ind. Quimica, Caucho y Plastico
Petrleo
Minera
Agric, gan. y otras act. Prim.
Metales Comunes y Elaboracin
Otros Sectores
Petroleo
Ind. Qumica, Caucho y Plstico
Maquinaria y Equipos
Comercio
Metales Comunes y Elaboracion
Elmentos, Bebidas y Tabaco
Electricidad
Otros Sectores
Cobros Netos
2004
31,200
11,900
2,300
3,800
2,600
3,000
100
1,100
1,500
4,900
18,500
3,700
600
3,700
1,400
2,300
1,300
800
200
400
4,100
12,700
2005
36,900
12,800
3,400
4,500
3,100
4,000
300
1,200
2,600
5,000
24,300
5,400
900
4,200
2,000
2,900
1,700
900
400
400
5,500
12,600
2006
42,300
13,500
4,200
5,300
3,600
5,300
1,000
1,600
2,100
5,700
29,000
6,900
1,100
4,900
2,400
3,300
2,100
1,000
600
300
6,400
13,300
2007
53,500
19,700
5,700
6,300
3,900
4,900
1,600
1,800
3,100
6,500
38,100
9,100
1,800
6,000
3,300
4,300
2,300
1,200
1,700
700
7,700
15,400
Mar
2008
67,900
26,100
7,700
8,100
4,600
6,300
1,800
2,100
3,300
7,900
47,800
11,300
2,200
7,400
3,700
5,200
3,300
1,600
2,000
1,900
9,200
20,100
Jun
2009
53,200
19,000
5,700
7,400
4,200
4,500
1,600
1,800
2,500
6,500
36,600
8,700
1,900
6,100
2,800
4,000
1,400
1,500
1,500
900
7,800
16,600
Sep
2010
67,600
27,100
8,500
7,600
4,700
4,700
2,500
2,100
2,600
7,800
49,500
13,000
2,500
7,600
4,000
5,100
2,800
1,800
2,000
800
9,900
18,100
Dec
2011
79,200
32,400
10,100
9,100
4,900
5,000
3,800
2,500
2,800
8,600
64,100
16,800
5,100
9,000
5,800
6,300
3,600
2,200
2,900
1,000
11,400
15,100
2012
80,900
30,900
10,500
8,800
5,700
6,600
4,900
2,400
2,900
8,200
66,100
17,400
7,900
9,700
6,500
5,400
3,100
2,200
2,700
900
10,300
14,800
2013
75,300
27,000
11,400
8,500
5,800
5,900
4,200
2,300
2,400
7,800
73,500
19,600
9,700
10,500
7,400
5,800
2,900
2,200
2,600
1,000
11,800
1,800
Jun-13
6,700
2,800
1,000
600
400
600
300
200
200
600
5,700
1,600
900
800
500
400
300
100
200
100
800
1,000
Jul-13
7,300
2,900
1,100
800
600
500
300
200
200
700
6,900
1,800
1,100
900
700
500
300
200
300
100
1,000
400
Aug-13
6,800
2,700
1,000
700
500
500
300
200
200
700
6,700
1,900
900
1,000
700
500
200
200
200
100
1,000
100
Sep-13
5,700
2,000
900
700
400
400
300
200
200
600
6,900
1,800
800
900
700
500
300
200
400
100
1,200
-1,200
Oct-13
5,900
1,800
1,000
800
500
500
300
200
200
600
6,800
2,000
700
900
700
500
300
200
300
100
1,100
-900
Nov-13
5,200
1,400
900
700
400
500
300
200
200
600
6,300
1,700
600
800
700
500
200
200
500
100
1,000
-1,100
Dec-13
5,200
1,400
900
700
500
400
300
200
200
600
6,100
1,700
800
800
600
400
200
200
300
100
1,000
-900
Jan-14
5,000
1,500
700
700
400
400
300
200
200
600
5,900
1,300
700
900
600
500
300
200
300
100
1,000
-900
Feb-14
5,100
1,800
500
600
400
500
300
200
200
600
4,100
700
600
700
400
400
200
200
200
0
700
1,000
Mar-14
5,200
1,700
700
600
400
500
300
200
200
600
4,600
900
900
700
400
400
200
200
100
100
700
600
En miles de millones de USD.
BCE. CAMBIARIO [MENSUAL]

Petrleo
Minera
Otros Sectores
Petroleo
Comercio
Electricidad
Otros Sectores
Cobros Netos
RESUMEN ESTADISTICO
BCE. CAMBIARIO [AC.]

Petrleo
Minera
Otros Sectores
Petroleo
Comercio
Electricidad
Otros Sectores
Cobros Netos
Jun-13
38,800
14,800
5,500
4,100
2,800
3,100
2,300
1,100
1,200
3,900
34,000
8,800
4,700
5,100
3,300
2,900
1,400
1,100
600
500
5,600
4,800
Jul-13
46,400
17,700
6,600
4,900
3,400
3,700
2,700
1,400
1,400
4,600
40,800
10,600
5,800
6,000
4,000
3,400
1,700
1,300
900
600
6,500
5,600
Aug-13
53,100
20,400
7,600
5,600
3,900
4,200
2,900
1,600
1,600
5,300
47,600
12,500
6,700
7,000
4,700
3,900
1,900
1,500
1,100
700
7,600
5,500
Sep-13
58,900
22,400
8,500
6,300
4,300
4,600
3,300
1,800
1,800
5,900
54,300
14,200
7,500
7,900
5,400
4,400
2,200
1,700
1,500
800
8,700
4,600
Oct-13
64,900
24,200
9,600
7,100
4,800
5,100
3,600
2,000
2,000
6,500
61,200
16,200
8,200
8,800
6,100
4,900
2,500
1,900
1,800
900
9,900
3,700
Nov-13
69,900
25,600
10,500
7,800
5,200
5,500
3,900
2,100
2,200
7,100
67,200
17,900
8,800
9,600
6,800
5,300
2,700
2,000
2,300
1,000
10,800
2,700
Dec-13
75,300
27,000
11,400
8,500
5,800
5,900
4,200
2,300
2,400
7,800
73,500
19,600
9,700
10,500
7,400
5,800
2,900
2,200
2,600
1,000
11,800
1,800
Jan-14
5,000
1,500
700
700
400
400
300
200
200
600
5,900
1,300
700
900
600
500
300
200
300
100
1,000
-900
Feb-14
10,000
3,300
1,200
1,300
800
900
600
400
400
1,100
10,200
2,000
1,400
1,600
1,000
900
500
400
500
100
1,800
-200
Mar-14
15,200
5,000
1,900
1,900
1,200
1,400
900
600
600
1,700
14,600
2,900
2,300
2,200
1,400
1,300
700
600
600
100
2,500
600
2009
55,700
53,200
2,500
11,000
9,100
1,900
66,700
62,300
4,400
2010
68,100
67,400
700
13,600
10,500
3,100
81,700
77,900
3,800
2011
84,100
79,200
4,900
15,600
11,700
3,900
99,700
90,900
8,800
2012
80,900
80,800
100
15,100
10,100
5,000
96,000
90,900
5,100
2013 2014-T1 2014-T2 2014-T3 2014-T4

81,700
15,900
75,300
15,100
6,400
800
14,300
3,400
8,400
2,000
5,900
1,400
96,000
19,300
83,700
17,100
12,300
2,200
2014
15,900
15,100
800
3,400
2,000
1,400
19,300
17,100
2,200
EXPO. COMPARADAS
Export. de Bs. (INDEC)
Export. de Bs. (BCRA)
Diferencia
Export. de Serv. (INDEC)
Export. de Serv. (BCRA)
Diferencia
Export. De Bs. Y Serv. (INDEC)
Export. De Bs. Y Serv. (BCRA)
Diferencia
En millones de USD. INDEC: Monto devengado. BCRA: Base caja.
Export. De Bs. Y Serv. (INDEC)

Export. de Bs. (INDEC)
Export. de Bs. (BCRA)
90,000
80,000
70,000
60,000
50,000
40,000
30,000
20,000
10,000
0
Diferencia
120,000
6,000
100,000
4,000
3,000
2010
2011
2012
2013
15,000
10,000
80,000
60,000
2,000
40,000
1,000
20,000
0
2009
Diferencia
7,000
5,000
Export. De Bs. Y Serv. (BCRA)
5,000
0
2009
2010
2011
2012
2013
RESUMEN ESTADISTICO
PBI REAL [OFICIAL Y CONGRESO]

PBI
600,000
TASA DE CRECIMIENTO PBI
PBI-C
PBI
15%
500,000
10%
400,000
5%
300,000
0%
200,000
-5%
100,000
-10%
-15%
PBI-C
En millones de ARS.
EMAE, EMI, ISAC [ENE 2007 = 100]

EMAE
160
EMI
ISAC
IGA [OJF]
INDICE LIDER
140
120
100
80
60
40
20
Jul-13
Jan-14
Jul-12
Jan-13
Jul-11
Jan-12
Jul-10
Jan-11
Jul-09
Jan-10
Jul-08
Jan-09
Jul-07
Jan-08
Jul-06
Jan-07
Jan-06
Jul-05
Jul-04
Jan-05
Jan-04
Jul-03
Jul-02
Jan-03
Jan-02
Jul-01
Jul-00
Jan-01
Jan-00
Jul-99
Jul-98
Jan-99
Jan-98
EXPORTACIONES E IMPORTACIONES DE BIENES

EXPORTACIONES [FOB]
90,000
IMPORTACIONES [FOB]
EXPORTACIONES NETAS
80,000
70,000
60,000
50,000
40,000
30,000
20,000
10,000
0
1998
-10,000
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
RESUMEN ESTADISTICO
2 | BANCO CENTRAL DE LA REPUBLICA ARGENTINA
RESERVAS
Reservas
Depsitos Bancarios
Depsitos del Gob. Nac.
Deuda Multilateral
CEDINES
Reservas Netas
Var. Reservas
Var. Reservas Netas
Var. Reservas (%)
Var. Reservas Netas (%)
2010
52,200
9,800
2,700
1,300
0
38,400
-
2011
46,400
5,700
700
5,300
0
34,700
-5,800
-3,700
-11.1%
-9.6%
2012
43,300
8,500
1,400
4,300
0
29,100
-3,100
-5,600
-6.7%
-16.1%
Mar
Jun
Sep
Dec
2013 2014-T1 2014-T2 2014-T3 2014-T4
30,600
27,000
29,300
10,700
8,000
7,400
1,900
430
226
2,200
1,844
1,816
300
300
300
15,500
16,426
19,558
-12,700
2,300
-13,600
3,132
-29.3%
8.5%
-46.7%
19.1%
May-13
May-14
28,500
7,100
1,500
1,800
300
17,800
-10,000
-10,100
-26.0%
-36.2%
Jun-13
Jun-14
29,300
7,400
200
1,800
300
19,600
-7,700
-6,100
-20.9%
-23.8%
VAR 12 MESES
En millones de USD.
RESERVAS
RESERVAS NETAS
Var. Reservas (%)
Var. Reservas Netas (%)
Reservas
60,000
0%
50,000
-5%
30,000
20,000
-10%
-15%
30,000
-20%
-20%
20,000
-30%
10,000
-40%
-25%
10,000
-30%
-35%
2010
2011
VARIACION DE RESERVAS
Variacin
Compra de Divisas
Organismos Internacionales
Otras Op. del Sector Pblico
Efectivo Mnimo
Otros
2012
2013
2010
4,200
11,800
300
-1,200
-900
-5,800
0%
40,000
-10%
40,000
Reservas Netas
50,000
-50%
2010
2011
-5,900
3,300
500
6,100
-6,400
-9,400
2012
-3,100
9,200
100
-3,400
900
-9,900
2011
2012
2013
Mar
Jun
Sep
Dec
2013 2014-T1 2014-T2 2014-T3 2014-T4
-12,700
9,492
26,520
-5,300
14,494
34,158
700
-6,253 -17,675
1,100
-421
8,291
200
860
-4,116
-9,400
812
5,862
May-13
May-14
3,960
14,010
-11,880
1,010
-980
1,800
41455
Jun-14
14,130
10,470
-1,270
2,840
-1,840
3,930
En millones de USD.
14,000
VAR. RESERVAS POR COMPRA DE DIVISAS
VARIACION DE RESERVAS
12,000
10,000
15,000
8,000
6,000
10,000
4,000
5,000
2,000
0
-2,000
2010
2011
2013
-5,000
Efectivo Mnimo
Organismos Internacionales
Otras Op. del Sector Pblico
Compra de Divisas
Variacin
2010
2011
2012
2013
-10,000
-4,000
-15,000
-6,000
-8,000
2012
Otros
En millones de USD.
-20,000
En millones de USD.
RESUMEN ESTADISTICO
LEBACS Y PREST. AL GOB.

Lebacs
Adelantos Transitorios
Notas Intransferibles
Prestamos al Tesoro
Var. Lebacs
Var. Ad. Transitorios
Var. Prest. al Tesoro
Var. Lebacs (%)
Var. Ad. Transitorios (%)
Var. Prest. al Tesoro (%)
2010
2011
2012
2013
88,600
84,200
99,900 110,500
46,200
67,100 127,700 182,600
64,000 110,700 164,700 279,700
110,200 177,800 292,400 462,300
-4,400
15,700
10,600
20,900
60,600
54,900
46,700
54,000 115,000
-5.0%
18.6%
10.6%
45.2%
90.3%
43.0%
73.0%
48.8%
69.8%
Mar
2014-T1
177,900
189,100
343,700
532,800
-
Jun
Sep
Dec
2014-T2 2014-T3 2014-T4 May-14
Jun-14
206,400
- 206,600 206,400
196,400
- 196,400 196,400
349,000
- 346,600 349,000
545,400
- 543,000 545,400
28,500
-200
7,300
0
5,300
2,400
16.0%
-0.1%
3.9%
0.0%
1.5%
0.7%
En millones de ARS.
LEBACS
PRESTAMOS AL TESOSO NACIONAL
Var. Lebacs (%)
Var. Prest. al Tesoro (%)
Lebacs
120,000
20%
500,000
100,000
15%
400,000
80,000
10%
60,000
5%
40,000
0%
20,000
-5%
-10%
2010
2011
En millones de ARS.
BASE MONETARIA
Variacin
Compra de divisas
Sector Pblico
Pases
Ttulos BCRA
Otros
2012
2013
2010
14,900
5,100
11,100
-800
-300
-200
2011
24,900
10,700
12,000
2,900
-300
-400
Prestamos al Tesoro
300,000
200,000
100,000
0
2010
2011
En millones de ARS.
2012
38,700
5,400
14,500
15,700
3,100
0
80%
70%
60%
50%
40%
30%
20%
10%
0%
2012
2013
Mar
Jun
Sep
Dec
2013 2014-T1 2014-T2 2014-T3 2014-T4
40,400 -28,200
21,600
-5,800
4,100
33,200
21,800
15,700
9,200
15,300 -24,000
9,400
6,300 -29,000 -27,900
2,800
5,000
-2,300
May-14
-3,300
7,300
3,700
-8,400
-5,100
-800
Jun-14
21,700
6,300
12,500
2,300
700
-100
En millones de ARS.
12,000
VAR. BASE MONETARIA POR COMPRA DE DIVISAS
Otros
10,000
8,000
50,000
6,000
40,000
4,000
Ttulos BCRA
Pases
Compra de divisas
Variacin
20,000
0
2010
2011
-4,000
2012
2013
10,000
0
-6,000
-8,000
Sector Pblico
30,000
2,000
-2,000
VARIACION BASE MONETARIA
En millones de ARS.
-10,000
2010
2011
2012
2013
En millones de ARS.
RESUMEN ESTADISTICO

Mar
Jun
Sep
Dec
2010
2011
2012
2013 2014-T1 2014-T2 2014-T3 2014-T4 May-14
Jun-14
374,300 433,000 570,600 722,900 851,600 875,400
867,100 875,400
207,500 199,600 212,900 199,500 216,300 238,100
240,500 240,500
BCRA | BALANCE
ACTIVOS
Reservas
Oro y divisas
Colocaciones real. en div
Otros
18,400
189,300
-200
Ttulos Pblicos
Adelantos T. al Gob. Nac.
Crditos al Sist. Financiero
Ap. a Org. Int. [x Gob. Nac.]
Otros
PASIVOS
Base Monetaria
45,100
154,300
200
24,800
187,900
200
30,000
169,000
500
45,900
170,100
300
61,500
176,300
300
49,600
180,800
10,100
61,500
176,300
2,700
84,200 127,200 190,600 301,800 364,300

46,200
67,100 127,700 182,600 189,100
1,500
2,100
3,700
4,900
4,900
8,400
9,200
10,900
15,700
27,800
26,500
27,800
24,800
18,400
49,200
335,700 395,700 509,200 615,600 741,800
160,435 223,000 307,300 377,200 349,000
368,900
196,400
4,900
28,400
38,700
765,700
370,600
366,700
196,400
4,800
28,100
30,600
758,600
348,900
368,900
196,400
4,900
28,400
36,300
765,700
370,600
286,200
84,400
266,700
82,200
286,200
84,400
Circulacin
Cuentas Corrientes en ARS
124,535
35,900
173,100
49,900
237,000
70,300
Cta. Cte. en otras monedas

Obligaciones con Org. Int.
Titulos BCRA
39,100
10,500
900
88,600
24,600
2,800
5,200
84,200
6,700
69,400
64,000
60,300
0
12,200
3,400
1,800
-4,000
1,400
1,700
1,800
99,900 110,500 177,900 206,300
88,600
0
84,200
0
36,165
38,600
3.9758
55,900
37,300
4.3032
Ttulos en ARS
Ttulos en USD
Otros
PATRIMONIO NETO
Tipo de Cambio
99,900
0
289,200
88,000
110,500
0
266,200
82,800
5,700
172,200
57,300
60,300
12,400
1,800
1,700
1,800
206,600 206,300
7,300
199,000
7,700
198,900
99,300
44,900 145,800 124,900
61,400 107,300 109,800 109,700
4.9173
6.5180
8.0098
8.1327
7,300
199,000
131,700 124,900
108,500 109,700
8.0777
8.1327
En millones de ARS
ACTIVOS
800,000
PASIVOS
Reservas
Ttulos Pblicos
Base Monetaria
Cta. Cte. en otras monedas
Adelantos T. al Gob. Nac.
Crditos al Sist. Financiero
Obligaciones con Org. Int.
Ap. a Org. Int. [x Gob. Nac.]
Otros
Titulos BCRA
Otros
800,000
600,000
600,000
400,000
400,000
200,000
200,000
0
2010
2011
En millones de ARS
2012
2013
-200,000
1,500,000
2012
2013
2014
2,000,000
0
Mar
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
-1,000,000
2013
-2,000,000
Jun
2012
Sep
2013
2014
Dec
ENE FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
-4,000,000
-6,000,000
-1,500,000
-8,000,000
-2,000,000
-2,500,000
-10,000,000
-3,000,000
-12,000,000
-3,500,000
2011
4,000,000
500,000
0
2012
VARIACION MENSUAL ACUMULADA DE RESERVAS
1,000,000
-500,000
2011
En millones de ARS
VARIACION MENSUAL DE RESERVAS

2011
2010
En miles de USD
-14,000,000
En miles de USD
10
RESUMEN ESTADISTICO
BCRA | PAT. NETO AJUSTADO

Patrimonio Neto
Adelantos Transitorios
Letras Intransferibles
Patrimonio Neto Ajustado
2010
2011
2012
38,600
37,300
61,400
46,200
67,100 127,700
64,000 110,700 164,700
-71,600 -140,500 -231,000
2013
107,300
182,600
279,700
-355,000
Mar
2014-T1
109,800
189,100
343,700
-423,000
Jun
Sep
Dec
2014-T2 2014-T3 2014-T4 May-14
Jun-14
109,700
108,500 109,700
196,400
196,400 196,400
349,000
346,600 349,000
-435,700
-434,500 -435,700
En millones de ARS.
EVOLUCION HISTORICA DE RESERVAS (MILES DE USD)
Reservas (USD)
$60,000,000
Reservas Netas (USD)
$50,000,000
$40,000,000
$30,000,000
$20,000,000
$10,000,000
Jan-14
Jan-13
Jan-12
Jan-11
Jan-10
Jan-09
Jan-08
Jan-07
Jan-06
Jan-05
Jan-04
Jan-03
Jan-02
Jan-01
Jan-00
Jan-99
Jan-98
$0
NIVEL Y VARIACION DE RESERVAS (MILES DE USD)

Var. Reservas
60,000,000
Reservas (USD)
20,000,000
15,000,000
50,000,000
10,000,000
40,000,000
5,000,000
30,000,000
20,000,000
-5,000,000
10,000,000
-10,000,000
-15,000,000
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
PRESTAMOS LA TESORO (MILES DE ARS)
600,000,000
Percent change in BCRA loans to the

Argentine government [right-axis]
BCRA loans to the Argentine government
[left axis]
500,000,000
LEBACS (MILES DE ARS)

250,000,000
250%
200,000,000
200%
150,000,000
400,000,000
150%
300,000,000
100%
200,000,000
50%
100,000,000
0%
100,000,000
50,000,000
2002 2004 2006 2008 2010 2012 2014
11
RESUMEN ESTADISTICO
3 | SISTEMA FINANCIERO
AGREGADOS MONETARIOS
BM [Base Monetaria]
M2
Multiplicador [M2]
Var. BM
Var. M2
Var. BM (%)
Var. M2 (%)
2010
2011
2012
2013
160,400 222,900 307,400 377,200
317,600 392,400 530,000 662,400
1.98
1.76
1.72
1.76
62,500
84,500
69,800
74,800 137,600 132,400
39.0%
37.9%
22.7%
23.6%
35.1%
25.0%
Mar-13
Jun-13
Sep-13 Dec-13
Mar-14
Jun-14
Sep-14 Dec-14
Apr-13 May-13
2014-T1 2014-T2 2014-T3 2014-T4
Apr-14 May-14
349,000 370,600
352,200 348,900
608,300
598,100 627,600
1.74
1.70
1.80
46,800
63,100
64,900
44,600
118,500
106,800 130,800
15.5%
20.5%
22.6%
14.7%
24.2%
21.7%
26.3%
VAR TRIMESTRE PERIODO ANTERIOR
En miles de ARS
NIVEL Y VARICION DE LA BASE MONETARIA
Var. BM (%)
BM [Base Monetaria]
NIVEL Y VARICION DE M2
45%
700,000
350,000
40%
600,000
300,000
35%
400,000
200,000
150,000
25%
400,000
20%
300,000
15%
100,000
0
2010
2011
En miles de ARS
DEPOSITOS | NOMINAL
Depsitos [ARS]
Depsitos Sec. Pub.
Depsitos Gob. Nacional
Depsitos Provincias y Mun.
Depsitos Otros Entes Of.
Depsitos Sec. Priv.

Depsitos Cta. Cte.
Depsitos Caja de Ahorro
Depsitos Plazo Fijo
Depsitos, otros
Depsitos [USD]
Depsitos Sec. Pub.
Depsitos Sec. Priv.

Depsitos Cta. Cte.
Depsitos Plazo Fijo
Depsitos, otros
Var. Dep. Privados ARS

Var. Dep. Privados USD
Var. Dep. Privados ARS (%)
Var. Dep. Privados USD (%)
En miles de ARS y USD
2012
M2
40%
35%
30%
25%
20%
15%
200,000
10%
50,000
Var. M2 (%)
500,000
30%
250,000
VAR 12 MESES
5%
100,000
0%
2013
10%
5%
0%
2010
Mar En miles de
2011
Sep
2012
Dec
2013
Apr-13
41425
2010
2011
2012
2013 2014-T1 2014-T2 2014-T3 2014-T4
Apr-14 May-14
316,000 410,200 562,700 717,400 743,400
537,900 543,900
108,000 139,700 180,900 224,000 229,000
1,300
1,400
58,300
35,500
14,200
87,300
40,500
11,900
101,700
59,800
19,400
119,000
79,300
25,700
142,200
86,600
200
208,000 270,500 381,800 493,400 514,400

61,200
56,800
81,600
8,400
76,700
73,400
110,000
10,400
103,100
100,900
164,300
13,500
16,104
4,400
13,403
1,200
3,900
300
200
900
300
200
536,600 542,500
123,700
125,300
247,900
17,500
128,400
131,200
259,000
18,000
132,000
131,600
261,000
17,900
9,902
1,900
8,500 263,400
1,600
1,700
7,900
1,300
8,600
1,400
700
300
200
1,500
300
100
1,100
300
200
1,200
300
200
800
300
200
900
300
200
11,704
12,203
8,002
6,900 261,700
6,600
7,200
4
5,000
6,200
500
3
5,400
6,200
600
2
3,100
4,400
500
0
2,600
3,900
400
0
2,500
3,900
255,300
0
2,300
4,000
300
0
2,800
4,000
400
62,500 111,300 111,600

499
-4,201
-1,102
30.0%
41.1%
29.2%
4.3% -34.4% -13.8%
125,200
132,400
218,600
17,200
800
300
200
125,200 127,000
-700
100
30.4%
30.6%
-9.1%
1.1%
VAR 12 MESES
12
RESUMEN ESTADISTICO
DEPOSITOS EN ARS
800,000
DEPOSITOS EN USD
Depsitos [ARS]
Depsitos [USD]
Depsitos Sec. Pub.
Depsitos Sec. Pub.
Depsitos Sec. Priv.
18,000
16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
0
2010
2011
En miles de USD
700,000
600,000
500,000
400,000
300,000
200,000
100,000
0
2010
2011
En miles de ARS
2012
2013
Depsitos Sec. Priv.
2012
DEPOSITOS | REAL
Depsitos en ARS
Depsitos Sector Publico
2010
100.0
100.0
2011
100.0
100.0
2012
100.0
100.0
Mar
Jun
Sep
Dec
2013 2014-T1 2014-T2 2014-T3 2014-T4
100.0
96.6
100.0
89.7

100.0
100.0
100.0
100.0
99.9
100.2
100.1
99.9
100.1
100.0
100.0
99.8
Depsitos Sector Privado
100.0
100.0
100.0
Depsitos Cta. Cte.

100.0
100.0
Depsitos Plazo Fijo
100.0
Depsitos, otros
100.0
2011 = 100. Ajustado con IPC-C [IPC Congreso]
100.0
100.0
100.0
100.6
100.0
100.0
100.0
100.5
PRESTAMOS | NOMINAL
Total [ARS]
Adelantos
Documentos
Hipotecarios
Prendarios
Personales
Tarjetas
Otros
Total [USD]
Adelantos
Documentos
Hipotecarios
Prendarios
Personales
Tarjetas
Otros
2013
Apr-14
74.5
0.5
May-14
73.7
0.6
100.1
100.0
0.8
0.6
0.4
0.6
0.7
0.4
0.6
100.1
100.0
112.9
111.6
100.1
100.0
100.0
100.7
100.1
100.0
100.0
100.7
91.8
101.1
138.9
93.8
92.3
99.2
136.9
91.2
Mar
Jun
Sep
Dec
2010
2011
2012
2013 2014-T1 2014-T2 2014-T3 2014-T4
Apr-14 May-14
161,700 241,000 339,200 457,100 475,300
473,600 478,000
22,000
30,900
47,300
56,700
62,200
61,900
64,100
33,800
51,100
76,200 111,400 110,600
109,200 107,500
19,900
26,800
34,500
43,100
44,600
44,700
45,000
9,400
16,400
22,100
31,300
32,400
32,200
32,000
39,400
58,100
75,100
98,500 101,400
101,900 102,800
26,400
39,900
56,400
80,700
88,400
88,100
90,600
10,800
17,800
27,600
35,400
35,700
35,600
36,000
7,200
9,500
5,500
3,700
3,600
3,700
4,000
100
100
100
0
100
100
100
6,300
8,100
4,500
2,800
2,700
3,000
3,200
200
200
200
100
100
100
100
0
0
0
0
0
0
0
0
0
0
0
0
0
0
100
200
200
400
300
200
200
500
900
500
400
400
300
400
En millones de ARS y USD
13
RESUMEN ESTADISTICO
Mar
500,000
PRESTAMOS EN ARS (EN MILLONES)
10,000
400,000
8,000
300,000
6,000
200,000
4,000
100,000
2,000
0
2010
2011
PRESTAMOS [REAL]
Total [ARS]
Adelantos
Documentos
Hipotecarios
Prendarios
Personales
Tarjetas
Otros
2012
2010
100
100
100
100
100
100
100
100
0
2010
2013
Jun
Sep
Dec
PRESTAMOS EN USD (EN MILLONES)
2011
2012
2013
2011
121
114
123
110
142
120
123
134
2012
137
140
147
113
153
124
139
166
2013 2014-T1 2014-T2 2014-T3 2014-T4

143
132
131
127
167
147
110
101
169
155
127
116
155
151
166
149
Apr-14
128
123
141
98
150
113
146
144
May-14
127
125
136
97
146
112
147
143
2011
9.50
14.54
18.75
14.30
2012
9.50
13.70
15.37
14.97
Mar
Jun
Sep
Dec
2013 2014-T1 2014-T2 2014-T3 2014-T4
9.50
9.50
17.67
21.42
20.18
26.17
17.79
30.40
Apr-14
9.50
21.67
26.28
29.70
May-14
9.50
21.29
24.66
28.46
TASAS [ARS]
Pases Pasivos, BCRA
Plazo Fijo (30-44D)
BADLAR Bcos. Privados
Lebac 12M
10
9
8
7
6
5
4
3
2
1
0
2010
25
2010
9.50
9.56
11.08
12.81
PASES PASIVOS
2011
2012
2013
20
18
16
14
12
10
8
6
4
2
0
2010
2013
20
18
16
14
12
10
8
6
4
2
0
2010
BADLAR (BANCOS PRIVADOS)
20
15
10
5
0
2010
2011
2012
PLAZO FIJO (30-44D)
2011
2012
2013
LEBAC 12M
2011
2012
2013
14
Jan-98
Jul-98
Jan-99
Jul-99
Jan-00
Jul-00
Jan-01
Jul-01
Jan-02
Jul-02
Jan-03
Jul-03
Jan-04
Jul-04
Jan-05
Jul-05
Jan-06
Jul-06
Jan-07
Jul-07
Jan-08
Jul-08
Jan-09
Jul-09
Jan-10
Jul-10
Jan-11
Jul-11
Jan-12
Jul-12
Jan-13
Jul-13
Jan-14
Jan-98
Jul-98
Jan-99
Jul-99
Jan-00
Jul-00
Jan-01
Jul-01
Jan-02
Jul-02
Jan-03
Jul-03
Jan-04
Jul-04
Jan-05
Jul-05
Jan-06
Jul-06
Jan-07
Jul-07
Jan-08
Jul-08
Jan-09
Jul-09
Jan-10
Jul-10
Jan-11
Jul-11
Jan-12
Jul-12
Jan-13
Jul-13
Jan-14
900,000,000
180
60,000,000
Jan-98
Jul-98
Jan-99
Jul-99
Jan-00
Jul-00
Jan-01
Jul-01
Jan-02
Jul-02
Jan-03
Jul-03
Jan-04
Jul-04
Jan-05
Jul-05
Jan-06
Jul-06
Jan-07
Jul-07
Jan-08
Jul-08
Jan-09
Jul-09
Jan-10
Jul-10
Jan-11
Jul-11
Jan-12
Jul-12
Jan-13
Jul-13
Jan-14
RESUMEN ESTADISTICO
TOTAL DEPOSITOS [ARS]
DEPOSITOS EN ARS | NOMINAL
Dep. Sector Publico [ARS]
Dep. Sector Publico [USD]
Dep. Sector Privado [ARS]
Dep. Sector Privado [ARS]
Dep. Sector Privado [USD]
Dep. Sector Publico [ARS]
800,000,000
700,000,000
600,000,000
500,000,000
400,000,000
300,000,000
200,000,000
100,000,000
DEPOSITOS EN ARS | REAL (DIC 2007 = 100, AJUSTADO CON IPC-C)

TOTAL DEPOSITOS [ARS]
160
140
120
100
80
60
40
20
DEPOSITOS EN USD
TOTAL DEPOSITOS [USD]
50,000,000
40,000,000
30,000,000
20,000,000
10,000,000
15
RESUMEN ESTADISTICO
4 | INFLACION Y TIPO DE CAMBIO
INFLACION Y TIPO DE CAMBIO

Deflactor del PBI
IPCNu
IPC [Congreso]
TC [oficial]
TC [blue]
Spread
Deval. TC [oficial]
Deval. TC [blue]
2009
10.0%
7.7%
14.8%
3.7967
3.8625
1.7%
-
2010
15.4%
10.9%
25.3%
3.9758
4.1075
3.3%
-
2011
17.3%
9.5%
22.7%
4.3032
4.7400
10.2%
8.2%
15.4%
Mar
Jun
Sep
Dec
2012
2013 2014-T1 2014-T2 2014-T3 2014-T4
15.3%
16.4%
10.8%
10.9%
10.0%
15.0%
25.2%
28.4%
12.7%
21.1%
4.9173
6.5180
8.0098
8.1327
6.8000 10.0000 11.8000 11.8000
38.3%
53.4%
47.3%
45.1%
14.3%
32.6%
22.9%
24.8%
43.5%
47.1%
18.0%
18.0%
2014*
35.7%
50.2%
-
ACUMULADO
* Inflacion annual proyectada a fin de ao.
INFLACION MENSUAL
IPCNu
ICP [Congreso]
IPC [CABA]
Sep-13
0.8%
2.1%
2.1%
Oct-13
0.9%
2.1%
2.2%
Nov-13
0.9%
2.4%
2.4%
Dec-13
1.4%
3.4%
2.3%
Jan-14
3.7%
4.6%
4.8%
Feb-14
3.4%
4.3%
4.4%
Mar-14
2.6%
3.3%
3.6%
Apr-14
1.8%
2.8%
3.1%
May-14
1.4%
2.3%
2.5%
Jun-14
1.3%
2.2%
2.3%
INFLACION ACUMULADA
IPCNu
ICP [Congreso]
IPC [CABA]
Sep-13
7.4%
18.8%
18.3%
Oct-13
8.4%
21.3%
20.9%
Nov-13
9.4%
24.2%
23.8%
Dec-13
10.9%
28.4%
26.6%
Jan-14
3.7%
4.6%
4.8%
Feb-14
7.2%
9.1%
9.4%
Mar-14
10.0%
12.7%
13.4%
Apr-14
12.0%
15.8%
16.9%
May-14
13.6%
18.5%
19.8%
Jun-14
15.0%
21.1%
22.6%
INFLACION 12M
IPCNu
ICP [Congreso]
IPC [CABA]
Sep-13
10.5%
25.7%
25.0%
Oct-13
10.5%
26.1%
25.9%
Nov-13
10.5%
26.8%
26.2%
Dec-13
10.9%
28.4%
26.6%
Jan-14
13.8%
30.9%
29.7%
Feb-14
17.0%
34.9%
33.9%
Mar-14
19.2%
37.3%
36.7%
Apr-14
20.5%
39.0%
38.2%
May-14
21.3%
39.9%
39.5%
Jun-14
21.9%
40.1%
40.1%
Inflacion Congreso [12M]

45%
Inflacion [oficial 12M]
Prat-Gay
Redrado
Marc del Pont
40%
35%
30%
25%
20%
IPCNu
15%
10%
5%
Jul-13
Jan-14
Jan-13
Jul-12
Jan-12
Jul-11
Jan-11
Jul-10
Jan-10
Jul-09
Jul-08
Jan-09
Jan-08
Jul-07
Jan-07
Jul-06
Jul-05
Jan-06
Jan-05
Jul-04
Jul-03
Jan-04
Jan-03
Jul-02
Jan-02
Jul-01
Jul-00
Jan-01
Jan-00
Jul-99
-5%
Jan-99
0%
16
RESUMEN ESTADISTICO
4 | INFLACION Y TIPO DE CAMBIO
INFLACION ACUMULADA
2011
30%
2012
2013
2014
25%
20%
15%
10%
5%
0%
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
BM, M2, IPC-C

BM
600
M2
IPC-C
500
400
300
200
Mar
Jun
Sep
Dec
100
Jan-98
Jun-98
Nov-98
Apr-99
Sep-99
Feb-00
Jul-00
Dec-00
May-01
Oct-01
Mar-02
Aug-02
Jan-03
Jun-03
Nov-03
Apr-04
Sep-04
Feb-05
Jul-05
Dec-05
May-06
Oct-06
Mar-07
Aug-07
Jan-08
Jun-08
Nov-08
Apr-09
Sep-09
Feb-10
Jul-10
Dec-10
May-11
Oct-11
Mar-12
Aug-12
Jan-13
Jun-13
Nov-13
Apr-14
ENC. DE EXPECTATIVAS INFL.

Mediana
Promedio
2010
30.0
35.1
2011
25.0
34.4
2012
30.0
37.2
2013 2014-T1 2014-T2 2014-T3 2014-T4

30.0
30.0
30.0
35.3
38.6
35.2
ENCUESTA DE EXPECTATIVAS INFLACIONARIAS [UTDT]

Mediana
45
40
35
30
25
20
15
10
5
0
Promedio
May-14
30.0
38.6
TC, TC [BLUE], BRECHA CAMBIARIA

14
Brecha
TC
TC Blue
12
8
60%
40%
20%
0%
Jan-10
May-10
Sep-10
Jan-11
May-11
Sep-11
Jan-12
May-12
Sep-12
Jan-13
May-13
Sep-13
Jan-14
May-14
Dec-13
Oct-12
May-13
Aug-11
Mar-12
Jan-11
Jun-10
Apr-09
Nov-09
Sep-08
Feb-08
0
Jul-07
100%
80%
10
Dec-06
Jun-14
30.0
35.2
17
RESUMEN ESTADISTICO
5 | RESUMEN FISCAL [NIVEL NACION]
RECURSOS TRIB. | NOMINAL

Total
Impuestos
Ganancias
IVA
Creditos y Dbitos
Otros
Seguridad Social
Aportes Personales
Contribuciones Patronales
Otros
Comercio Exterior
Importaciones
Exportaciones
Otros
Var. Rec. Tributarios
Var. Impuestos
Var. Seguridad Social
Var. Comercio Exterior
Var. Rec. Tributarios (%)
Var. Impuestos (%)
Var. Seguridad Social (%)
Var. Comercio Exterior (%)
2010
409,900
252,900
76,700
116,400
26,900
32,900
100,100
37,600
54,700
7,800
56,900
11,200
45,500
200
-
2011
540,200
337,100
108,600
154,200
36,200
38,100
134,200
51,500
75,300
7,400
68,900
14,400
54,200
300
130,300
84,200
34,100
12,000
31.8%
33.3%
34.1%
21.1%
2012
679,600
426,200
138,400
190,500
43,900
53,400
175,500
69,500
101,000
5,000
77,900
16,300
61,300
300
139,400
89,100
41,300
9,000
25.8%
26.4%
30.8%
13.1%
2013
858,700
550,000
183,600
249,000
56,500
60,900
229,700
91,600
133,500
4,600
79,000
23,100
55,500
400
179,100
123,800
54,200
1,100
26.4%
29.0%
30.9%
1.4%
Mar-14
2014-T1
250,100
159,800
51,300
77,400
16,600
14,500
70,100
28,100
41,000
1,000
20,200
6,800
13,300
100
132,600
42,300
15,600
5,300
33.9%
36.1%
28.5%
35.9%
RESPECTO A MISMO TRIM. AO ANTERIOR
En millones de ARS.
Mar
RECURSOS TRIB. | REAL
Total
Impuestos
Ganancias
IVA
Creditos y Dbitos
Otros
Seguridad Social
Aportes Personales
Contribuciones Patronales
Otros
Comercio Exterior
Importaciones
Exportaciones
Otros
2010
100
100
100
100
100
100
100
100
100
100
100
100
100
100
2011
107
109
115
108
110
94
109
112
112
77
99
105
97
122
2012
108
110
117
107
106
106
114
120
120
42
89
95
88
98
Total
Impuestos
Seguridad Social
Comercio Exterior
VAR 12 MESES
Dec
May-14
116.6
114.0
144.6
97.1
104.4
100.5
104.3
98.6
103.3
288.4
190.5
106.4
247.3
115.2
VAR REAL 2014
Impuestos
Seguridad Social
2010
2011
Comercio Exterior
100%
80%
600,000
60%
400,000
40%
200,000
20%
2012
Jun-14
109.9
108.0
141.7
93.6
94.6
83.0
97.0
95.2
98.2
101.5
177.3
91.4
235.4
101.8
RECURSOS TRIBUTARIOS | CONTRIBUCION
800,000
2011
Sep
2013 2014-T1 2014-T2 2014-T3 2014-T4

106
97.5
98.9
110
99.2
98.5
121
97.5
98.9
108
101.2
97.5
107
99.3
99.7
94
84.1
95.2
116
93.6
91.1
124
94.8
89.4
124
94.4
90.8
30
55.3
140.8
70
98.9
119.7
105
98.7
96.9
62
99.0
126.5
101
109.0
105.6
RECURSOS TRIBUTARIOS | VALORES
0
2010
Jun
RESPECTO A MISMO TRIM. AO ANTERIOR
1,000,000
Jun-14
Sep-14 Dec-14 May-13
Jun-13
2014-T2 2014-T3 2014-T4 May-14
Jun-14
298,900
105,080 101,190
191,400
70,100
67,930
74,300
29,250
29,300
78,400
25,770
25,370
18,200
6,530
6,040
20,500
8,550
7,220
68,300
23,620
22,460
26,800
9,090
8,970
39,800
13,510
13,120
1,700
1,020
370
39,200
11,360
10,800
7,200
2,520
2,210
31,900
8,790
8,550
100
50
40
157,300
27,300
26,500
49,800
18,200
16,600
13,700
5,200
4,900
15,400
4,000
5,000
35.9%
35.1%
35.5%
35.2%
34.9%
32.4%
25.0%
28.1%
27.8%
64.4%
54.1%
85.7%
2013
0%
2012
2013
18
RESUMEN ESTADISTICO
BASE CAJA | NOMINAL

Ingresos Corrientes
Ingresos Tributarios
Seguridad Social
Rentas de la Propiedad
Otros
Gastos Corrientes
Gastos Operativos
Seguridad Social
Transferencias
Mar
Jun
Sep
Dec
2014-T1 2014-T2 2014-T3 2014-T4
209,200
115,010
70,210
17,770
6,210
201,650
41,280
74,930
60,500
2010
350,290
206,250
100,960
32,130
10,950
301,780
63,440
107,070
101,990
2011
434,790
264,010
133,680
23,390
13,710
412,010
81,890
147,090
133,950
2012
550,190
329,550
174,390
28,760
17,490
544,180
104,210
204,620
155,970
2013
717,860
404,460
229,890
59,260
24,250
691,650
137,440
272,070
198,350
25,600
75,890
500
29,370
103,590
990
35,470
119,470
1,030
43,090
154,110
1,150
29,280
48,510
190
45,640
3,060
49,080
22,780
60
53,510
-30,670
79,380
6,010
210
61,780
-55,560
83,790
26,210
60
90,750
-64,480
2010
-
2011
24.1%
28.0%
32.4%
-27.2%
25.2%
36.5%
29.1%
37.4%
31.3%
2012
26.5%
24.8%
30.5%
23.0%
27.6%
32.1%
27.3%
39.1%
16.4%
Al Sector Pblico
Al Sector Privado
Otros
14.7%
36.5%
98.0%
20.8%
15.3%
4.0%
21.5%
29.0%
11.7%
Otros
Resultado Operativo
Recursos de Capital
Gastos de Capital
Resultado Financiero
67.6%
-53.0%
17.2%
-1102%
61.7%
-73.6%
15.5%
81.2%
5.6%
336.1%
46.9%
16.1%
Al Sector Pblico
Al Sector Privado
Otros
Otros
Resultado Operativo
Recursos de Capital
Gastos de Capital
Apr-14
79,430
49,140
22,630
4,950
2,710
72,620
13,470
26,070
21,760
May-14
82,970
51,860
23,530
5,060
2,520
74,650
13,020
27,250
22,130
11,870
48,430
200
4,070
17,610
80
3,770
18,280
80
24,940
7,550
0
22,740
-15,190
11,320
6,810
0
11,080
-4,270
12,250
8,320
10
9,490
-1,160
En millones de ARS.
BASE CAJA | VARIACION

Ingresos Corrientes
Seguridad Social
Otros
Gastos Corrientes
Gastos Operativos
Seguridad Social
Transferencias
Apr-13 May-13
2013 2014-T1 2014-T2 2014-T3 2014-T4
Apr-14 May-14
30.5%
42.6%
40.8%
22.7%
40.2%
35.4%
31.8%
21.3%
26.8%
106.1%
2202.1% 2191.4%
38.7%
52.6%
36.7%
27.1%
40.4%
45.6%
31.9%
38.4%
36.2%
33.0%
30.5%
27.4%
27.2%
50.8%
56.6%
22.7%
59.4%
14.1%
15.1%
69.7%
0.2%
49.6%
97.6%
70.5%
8.8%
-90.4% 1040.0%
56.6%
14.2%
39.5%
75.4%
VAR. 12 MESES
BASE CAJA
800,000
Ingresos Corrientes
Resultado Operativo
Gastos Corrientes
600,000
400,000
200,000
0
2010
-200,000
2011
2012
2013
19
RESUMEN ESTADISTICO
BASE CAJA | REAL

Ingresos Corrientes
Seguridad Social
Otros
Gastos Corrientes
Gastos Operativos
Seguridad Social
Transferencias
Mar
Jun
Sep
Dec
2013 2014-T1 2014-T2 2014-T3 2014-T4
104
101
99
102
115
94
94
132
112
96
116
105
110
102
129
98
99
111
2010
100
100
100
100
100
100
100
100
100
2011
101
104
108
59
102
111
105
112
107
2012
102
104
112
58
104
117
107
124
100
Al Sector Pblico
Al Sector Privado
Otros
100
100
100
94
111
161
90
102
134
85
103
117
Otros
Resultado Operativo
Recursos de Capital
Gastos de Capital
100
100
100
100
100
137
38
26
96
-817
176
8
72
88
-1,182
145
27
16
101
-1,069
Apr-13
Apr-14
103
101
87
1,657
110
101
100
94
109
May-13
May-14
101
97
91
1,638
98
104
97
91
112
92
118
29
88
115
82
82
121
72
125
47
62
96
194
108
123
7
113
100
141
78
815
82
125
VAR 12 MESES
BASE CAJA | CORRECCION

Transferencias ANSES y BCRA
Resultado Financiero Aj.
Resultado Fciero. (% PBI-C)
Resultado Fciero. Aj. (% PBI-C)
2010
3,060
-32,100
-29,040
0.2%
-2.0%
2011
-30,670
-23,400
-54,070
-1.8%
-2.9%
######## ######## ######## ########

2012
2013 2014-T1 2014-T2 2014-T3 2014-T4
-55,560 -64,480 -15,190
-28,800 -59,300 -17,800
-84,360 -123,780 -32,990
-2.9%
-2.8%
-2.8%
-3.9%
-4.7%
-4.7%
Apr-14
-4,270
-22,700
-26,970
-2.8%
-4.7%
May-14
-1,160
-27,800
-28,960
-2.8%
-4.7%
En millones de pesos. El deficit fiscal sobre el PBI Nominal es en base a las estimaciones del Congreso Nacional.
RESULTADO FINANCIERO | VALORES
RESULTADO FINANCIERO | % PBI NOMINAL
50,000
0
2010
-50,000
Resultado Fciero. (% PBI-C)
Resultado Financiero Aj.
2011
2012
Resultado Fciero. Aj. (% PBI-C)
2%
0%
2013
2010
2011
2012
2013
-2%
-100,000
-4%
-150,000
-6%
PRESION FISCAL | % PBI NOMINAL
Presin Fiscal [PBI oficial]
PRESION FISCAL
Presin Fiscal [PBI oficial]
Nacin
Impuesto Inflacionario
Presin Fiscal [PBI privado]
Nacin
Impuesto Inflacionario
2010
30.9%
28.4%
2.5%
33.2%
30.5%
2.7%
2011
31.7%
29.3%
2.4%
34.9%
32.3%
2.6%
2012
34.5%
31.4%
3.1%
38.5%
35.1%
3.4%
Presin Fiscal [PBI privado]
50%
40%
30%
20%
10%
0%
2010
2011
2012
20
RESUMEN ESTADISTICO
6 | MERCADO LABORAL
DESEMPLEO
Total
Total sin GBA
Regin Gran Buenos Aires
Ciudad de Buenos Aires
Partidos del GBA
Regin Cuyo
Gran Mendoza
Gran San Juan
San Luis [El Chorrillo]
Regin Noreste
Corrientes
Formosa
Gran Resistencia
Posadas
Regin Noroeste
Gran Catamarca
Gran Tucumn [Taf Viejo]
Jujuy [Palpal]
La Rioja
Salta
Sgo. del Estero [La Banda]
Regin Pampeana
Baha Blanca [Cerri]
Concordia
Gran Crdoba
Gran La Plata
Gran Rosario
Gran Paran
Gran Santa Fe
Mar del Plata [Batn]
Ro Cuarto
Santa Rosa [Toay]
S. Nicols [V. Constitucin]
Regin Patagnica
Com. Rivadavia [Rada Tilly]
Neuqun [Plottier]
Ro Gallegos
Ushuaia [Ro Grande]
Rawson [Trelew]
Viedma [C. de Patagones]
2008
7.3
6.9
7.7
5.5
8.5
4.3
4.0
6.3
1.1
3.4
5.6
2.3
2.4
2.2
8.2
8.4
9.7
4.3
6.4
11.9
3.1
7.9
9.8
5.5
7.6
7.4
7.7
5.8
9.1
10.1
5.8
3.9
8.4
5.0
3.7
6.0
2.3
4.3
4.1
9.8
2009
8.4
7.5
9.1
7.8
8.7
5.8
5.8
7.0
2.7
4.9
6.7
2.0
4.0
5.9
9.3
10.2
11.8
6.7
8.4
9.8
5.2
9.3
11.0
7.5
9.1
6.8
10.8
8.6
11.9
8.7
8.1
3.0
8.9
7.2
5.6
7.2
2.7
8.7
8.3
11.5
2010
7.3
6.4
8.0
6.2
8.7
4.2
3.8
6.7
0.8
3.0
3.7
2.3
0.9
5.0
6.6
8.5
5.6
4.1
6.8
9.2
5.5
7.6
6.9
4.2
7.5
5.7
7.8
11.0
8.8
8.7
8.7
2.3
7.8
5.3
3.6
5.6
2.5
7.3
7.0
5.2
2011
6.7
5.6
7.7
5.8
8.3
3.0
3.0
3.6
1.3
3.4
5.8
2.2
3.7
0.9
5.3
7.5
3.1
5.4
3.4
7.9
6.3
6.9
7.8
5.1
6.1
5.6
8.1
8.5
5.7
7.7
7.6
1.8
8.8
4.9
2.9
7.1
2.1
5.0
5.6
3.4
2012
6.9
5.8
7.7
7.4
7.9
3.9
3.6
5.5
2.0
2.6
2.5
2.0
2.1
3.6
5.3
6.2
3.9
4.2
3.9
7.2
6.7
7.3
6.6
2.9
7.7
4.9
8.6
7.8
6.9
9.5
6.2
1.4
6.1
4.1
4.2
3.2
4.1
4.9
3.7
6.4
2013 2014-T1 2014-T2 2014-T3 2014-T4

6.4
8.7
6.3
7.6
6.5
8.5
4.4
5.9
7.2
9.3
4.9
9.1
4.5
10.0
7.2
9.7
1.3
2.9
2.2
2.9
4.4
2.2
2.3
5.2
0.6
0.5
1.2
4.5
5.5
7.0
6.4
4.4
4.9
6.0
5.0
6.7
3.4
6.3
8.0
8.6
4.0
9.4
7.8
8.9
8.7
4.5
5.5
9.4
8.8
11.4
5.2
10.4
7.9
7.3
6.2
10.4
6.3
5.8
11.7
10.8
7.2
7.2
1.1
2.7
5.7
4.4
5.5
4.1
5.0
3.6
7.8
5.1
3.8
1.8
4.7
3.8
3.9
4.9
4.3
4.2
-
INDICE DE DDA. LABORAL

Capital y GBA [UTDT]
Rosario y Gran Rosario [UTDT]
2010
100.0
100.0
2011
76.5
88.1
2012
56.3
88.7
######## ######## ######## ########

2013 2014-T1 2014-T2 2014-T3 2014-T4
47.9
84.2
-
Apr-14
0.0
0.0
May-14
0.0
0.0
Diciembre 2011 = 100
21
Jan-00
100
50
0
Jun-10
Jan-10
Aug-09
Mar-09
Oct-08
May-08
Dec-07
Jul-07
Feb-07
Sep-06
Apr-06
Nov-05
Jul-12
Dec-12
May-13
Oct-13
Jul-12
Dec-12
May-13
Oct-13
Feb-12
150
Sep-11
200
Feb-12
250
Apr-11
300
Sep-11
350
Nov-10
400
Apr-11
INDICE DE DEMANDA LABORAL | ROSARIO Y G. ROSARIO [UTDT]
Nov-10
Jun-10
Jan-10
Aug-09
Mar-09
Oct-08
May-08
Dec-07
Jul-07
Feb-07
Sep-06
Apr-06
Jun-05
Jan-05
Aug-04
Mar-04
Oct-03
May-03
Dec-02
Jul-02
Feb-02
Sep-01
Apr-01
Nov-00
20
Nov-05
Jun-05
Jan-05
Aug-04
Jan-00
Jun-00
120
Mar-04
450
Oct-03
May-03
Dec-02
Jul-02
Feb-02
Sep-01
Apr-01
Nov-00
Jun-00
RESUMEN ESTADISTICO
6 | MERCADO LABORAL
DESEMPLEO | AJUSTE ILO
18
16
14
12
10
0
1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
INDICE DE DEMANDA LABORAL | CABA Y GBA [UTDT]
100
80
60
40
20
22
RESUMEN ESTADISTICO
7 | INTERNACIONAL
PBI REAL | CRECIMIENTO

Latino America y Caribe
Argentina [oficial]
Argentina [Congreso]
Brazil
Chile
Colombia
Mexico
Paraguay
Peru
Uruguay
Venezuela, RB
Unin Europea
Francia
Alemania
Irlanda
Italia
Espaa
Reino Unido
Asia, Sur
Asia, Este y Pacfico
China
India
Japn
United States
OECD
Mundo
GDP per capita PPP (2005)
Argentina
Brazil
Chile
Colombia
Mexico
Paraguay
Peru
Uruguay
Venezuela, RB
Unin Europea
Francia
Alemania
Irlanda
Italia
Espaa
Reino Unido
Asia, Sur
China
India
Japn
United States
OECD
Mundo
2003
1.8
8.8
8.8
1.1
4.0
3.9
1.4
4.3
4.0
0.8
-7.8
1.5
0.9
-0.4
3.7
0.0
3.1
3.9
7.3
3.9
10.0
7.9
1.7
2.8
2.1
2.8
2004
5.8
9.0
9.0
5.7
6.0
5.3
4.3
4.1
5.0
5.0
18.3
2.6
2.5
1.2
4.2
1.7
3.3
3.2
7.6
4.9
10.1
7.9
2.4
3.8
3.2
4.1
2005
4.3
9.2
9.2
3.2
5.6
4.7
3.0
2.1
6.8
7.5
10.3
2.2
1.8
0.7
6.1
0.9
3.6
3.2
8.8
4.4
11.3
9.3
1.3
3.4
2.7
3.6
2006
5.3
8.5
8.5
4.0
4.4
6.7
5.0
4.8
7.7
4.1
9.9
3.4
2.5
3.7
5.5
2.2
4.1
2.8
8.7
5.2
12.7
9.3
1.7
2.7
3.0
4.1
2007
5.4
8.7
8.7
6.1
5.2
6.9
3.1
5.4
8.9
6.5
8.8
3.2
2.3
3.3
5.0
1.7
3.5
3.4
9.0
6.1
14.2
9.8
2.2
1.8
2.6
4.0
2008
3.9
6.8
3.7
5.2
3.3
3.5
1.4
6.4
9.8
7.2
5.3
0.4
-0.1
1.1
-2.2
-1.2
0.9
-0.8
3.9
3.0
9.6
3.9
-1.0
-0.3
0.1
1.4
2009
-1.6
0.9
-3.1
-0.3
-1.0
1.7
-4.7
-4.0
0.9
2.2
-3.2
-4.5
-3.1
-5.1
-6.4
-5.5
-3.8
-5.2
7.7
0.4
9.2
8.5
-5.5
-2.8
-3.6
-2.1
2010
5.6
9.2
8.8
7.5
5.8
4.0
5.1
13.1
8.8
8.9
-1.5
2.1
1.7
4.0
-1.1
1.7
-0.2
1.7
9.1
6.9
10.4
10.3
4.7
2.5
2.9
4.1
2011
4.2
8.9
6.3
2.7
5.9
6.6
4.0
4.3
6.9
6.5
4.2
1.6
2.0
3.3
2.2
0.5
0.1
1.1
6.3
3.9
9.3
6.6
-0.6
1.8
1.7
2.9
2012
2.9
1.9
0.4
0.9
5.6
4.2
3.8
-1.2
6.3
3.9
5.6
-0.4
0.0
0.7
0.2
-2.5
-1.6
0.3
4.9
4.3
7.8
4.7
2.0
2.8
1.5
2.4
2003
8,300
9,300
8,000
11,700
6,800
11,500
4,500
5,800
8,500
7,800
25,700
28,600
30,500
36,500
28,000
26,300
31,600
1,800
6,000
3,400
2,000
29,400
42,100
28,500
8,300
2004
8,700
10,000
8,300
12,200
7,100
11,800
4,500
6,000
9,000
9,100
26,300
29,100
30,900
37,300
28,200
26,700
32,400
2,000
6,300
3,700
2,100
30,100
43,300
29,300
8,700
2005
9,000
10,800
8,500
12,800
7,300
12,000
4,600
6,300
9,600
9,900
26,800
29,500
31,100
38,800
28,300
27,200
33,200
2,100
6,700
4,100
2,200
30,400
44,300
29,900
8,900
2006
9,400
11,700
8,700
13,200
7,700
12,500
4,700
6,800
10,000
10,700
27,600
30,000
32,300
39,800
28,700
27,900
33,900
2,200
7,100
4,600
2,400
31,000
45,100
30,600
9,300
2007
9,800
9,200
13,700
8,100
12,700
4,900
7,300
10,600
11,400
28,500
30,500
33,400
40,600
29,000
28,300
34,800
2,400
7,600
5,200
2,600
31,600
45,400
31,200
9,600
2008
10,100
9,600
14,100
8,200
12,700
5,100
7,900
11,400
11,800
28,500
30,300
33,800
38,900
28,500
28,100
34,300
2,500
8,000
5,700
2,700
31,300
44,900
31,000
9,800
2009
9,800
9,500
13,800
8,200
12,000
4,800
7,900
11,600
11,200
27,200
29,200
32,200
36,100
26,700
26,800
32,200
2,600
8,100
6,200
2,900
29,600
43,200
29,700
9,600
2010
10,300
10,100
14,400
8,400
12,400
5,300
8,500
12,600
10,900
27,600
29,500
33,500
35,500
27,100
26,600
32,500
2,800
8,700
6,800
3,100
31,000
44,000
30,400
10,000
2011
10,700
10,300
15,100
8,900
12,700
5,400
9,000
13,300
11,200
28,000
30,000
34,600
36,100
27,100
26,500
32,600
3,000
9,200
7,400
3,300
30,800
44,400
30,800
10,200
2012
10,900
10,300
15,800
9,100
13,100
5,300
9,400
13,800
11,600
28,000
29,800
35,500
36,100
26,900
26,100
32,500
3,100
9,600
8,000
3,400
31,400
45,300
31,200
10,400
23
RESUMEN ESTADISTICO
7 | INTERNACIONAL
CRECIMIENTO % M2
Argentina [oficial]
Brazil
Chile
Colombia
Mexico
Paraguay
Peru
Uruguay
Venezuela, RB
Francia
Alemania
Irlanda
Italia
Espaa
Reino Unido
China
India
Japn
United States
2003
29.6
20.5
-0.5
10.6
9.3
10.9
-2.1
15.2
64.1
8.4
2.4
22.5
4.1
13.6
9.8
19.2
13.0
0.5
4.5
2004
21.4
16.6
9.6
19.2
13.0
15.1
3.3
-3.0
40.1
7.8
3.8
37.7
7.4
19.4
9.8
14.9
16.7
0.6
5.7
2005
21.5
18.5
11.2
17.6
10.0
11.1
17.1
0.0
52.4
7.1
4.0
36.6
8.3
29.7
13.8
16.7
15.6
0.5
8.2
2006
20.3
18.0
19.2
18.0
6.7
10.7
12.1
11.6
75.3
9.6
4.1
22.7
9.8
27.2
14.1
22.1
21.6
-0.7
9.0
2007
24.5
18.7
18.8
17.4
10.1
29.9
24.1
3.8
28.8
13.2
5.4
6.3
18.4
19.2
15.8
16.7
22.3
0.6
11.7
2008
8.1
17.8
0.2
18.5
8.9
34.6
22.9
28.6
26.0
7.9
4.7
-15.6
12.4
8.6
17.8
17.8
20.5
0.7
8.2
2009
17.0
16.3
-4.7
8.1
11.5
21.0
2.7
-2.6
28.8
1.5
-1.3
0.6
7.9
4.1
-0.1
28.4
18.0
2.1
5.1
2010
33.1
15.8
7.7
11.5
12.8
19.0
21.7
22.1
28.0
5.7
0.1
-19.7
10.5
0.8
4.0
18.9
17.8
2.0
-2.7
2011
26.0
18.5
22.9
18.9
10.0
16.1
9.6
18.0
54.5
9.1
1.5
-9.8
2.6
-3.3
-4.4
17.3
16.1
2.9
6.7
2012
34.8
15.9
10.3
16.1
10.1
11.8
13.8
10.0
56.4
1.1
-0.9
-3.5
6.6
-6.9
0.8
14.4
11.0
2.2
4.9
INFLACION | DEFLACTOR
Argentina
Brazil
Chile
Colombia
Mexico
Paraguay
Peru
Uruguay
Venezuela, RB
Unin Europea
Francia
Alemania
Irlanda
Italia
Espaa
Reino Unido
Asia, Sur
China
India
Japn
United States
OECD
Mundo
2003
5.4
10.5
13.7
5.9
6.8
6.0
12.2
2.8
16.5
34.9
3.1
2.0
1.1
3.7
3.1
4.2
2.2
4.2
2.6
2.6
3.9
-1.7
2.0
2.8
3.7
2004
6.3
9.2
8.0
7.5
7.3
7.6
9.0
6.2
10.1
34.0
2.5
1.7
1.1
2.4
2.4
4.0
2.4
5.0
4.0
6.9
5.7
-1.4
2.7
2.6
5.6
2005
5.8
8.8
7.2
7.6
5.6
5.3
10.1
3.0
0.7
29.6
2.5
1.9
0.6
2.4
1.8
4.3
2.0
6.0
4.2
3.9
4.2
-1.3
3.2
2.4
5.3
2006
5.8
13.4
6.2
12.8
5.8
5.8
6.1
7.2
6.5
17.9
2.8
2.1
0.3
3.3
1.7
4.1
2.9
7.3
4.2
3.8
6.4
-1.1
3.1
2.7
5.5
2007
6.6
14.3
5.9
4.8
5.0
5.0
9.8
2.2
9.4
15.4
3.2
2.6
1.6
1.7
2.4
3.3
2.3
7.1
4.5
7.6
5.8
-0.9
2.7
2.9
5.6
2008
7.9
19.1
8.3
0.5
7.6
6.0
9.3
2.5
8.0
30.1
3.0
2.5
0.8
-2.9
2.5
2.4
3.2
8.7
6.3
7.8
8.7
-1.3
2.0
2.8
7.9
2009
3.0
10.0
7.2
3.8
3.4
3.5
2.0
2.6
4.9
7.8
1.3
0.7
1.2
-3.8
2.1
0.1
2.2
6.3
1.3
-0.6
6.1
-0.5
0.8
1.3
2.3
2010
4.7
15.4
8.2
8.8
3.9
4.1
6.1
4.3
4.8
45.9
1.0
1.0
1.0
-1.5
0.4
0.1
3.1
8.1
3.6
6.7
9.0
-2.2
1.2
1.2
4.3
2011
5.7
17.3
7.0
3.4
7.0
4.9
9.8
4.8
8.0
28.1
2.0
1.3
1.2
0.7
1.4
0.0
2.3
8.7
4.0
7.8
8.5
-1.9
2.0
1.9
5.6
2012
3.6
15.3
5.3
1.8
2.6
3.6
4.6
1.6
8.8
14.1
1.7
1.5
1.5
0.7
1.7
0.0
1.7
6.9
1.9
1.8
7.2
-0.9
1.7
1.7
3.2
24
RESUMEN ESTADISTICO
7 | INTERNACIONAL
Dec-03
Dec-04
Dec-05
Dec-06
Dec-07
Dec-08
Dec-09
Dec-10
Dec-11
Dec-12
INFLACION | IPC
Argentina [oficial]
Argentina [Congreso]
Brazil
Chile
Colombia
Mexico
Paraguay
Peru
Uruguay
Venezuela, RB
Unin Europea
Francia
Alemania
Irlanda
Italia
Espaa
Reino Unido
Asia, Sur
China
India
Japn
United States
OECD
Mundo
2003
4.5
3.7
3.7
14.7
7.1
4.5
14.2
2.3
19.4
2.1
2.1
1.0
3.5
2.7
3.0
1.4
4.7
2.5
1.2
3.8
-0.2
2.3
2.1
3.3
2004
4.4
6.1
6.1
6.6
5.9
4.7
4.3
3.7
9.2
2.3
2.1
1.7
2.2
2.2
3.0
1.3
7.5
3.0
3.9
3.8
0.0
2.7
2.2
3.6
2005
4.7
12.3
12.3
6.9
5.0
4.0
6.8
1.6
4.7
2.5
1.7
1.5
2.4
2.0
3.4
2.0
7.0
2.9
1.8
4.2
-0.3
3.4
2.3
4.1
2006
4.3
9.8
9.8
4.2
4.3
3.6
9.6
2.0
6.4
2.6
1.7
1.6
3.9
2.1
3.5
2.3
7.0
3.7
1.5
6.1
0.2
3.2
2.3
4.4
2007
5.5
8.5
25.7
3.6
5.5
4.0
8.1
1.8
8.1
2.6
1.5
2.3
4.9
1.8
2.8
2.3
7.5
4.2
4.8
6.4
0.1
2.9
2.4
5.0
2008
8.4
7.2
23.0
5.7
7.0
5.1
10.2
5.8
7.9
4.2
2.8
2.6
4.1
3.4
4.1
3.6
11.6
7.7
5.9
8.4
1.4
3.8
4.1
9.0
2009
2.8
7.7
14.8
4.9
4.2
5.3
2.6
2.9
7.1
27.1
1.0
0.1
0.3
-4.5
0.8
-0.3
2.2
4.9
1.4
-0.7
10.9
-1.3
-0.4
0.9
2.9
2010
3.9
10.9
25.3
5.0
1.4
2.3
4.2
4.7
1.5
6.7
28.2
1.7
1.5
1.1
-0.9
1.5
1.8
3.3
7.6
3.1
3.3
12.0
-0.7
1.6
1.8
3.5
2011
5.1
9.5
22.7
6.6
3.3
3.4
3.4
8.3
3.4
8.1
26.1
3.3
2.1
2.1
2.6
2.7
3.2
4.5
9.9
5.3
5.4
8.9
-0.3
3.2
3.3
5.0
2012
4.1
10.8
25.2
5.4
3.0
3.2
4.1
3.7
3.7
8.1
21.1
2.7
2.0
2.0
1.7
3.0
2.4
2.8
9.4
2.7
2.7
9.3
0.0
2.1
2.5
3.7
DESEMPLEO
Argentina
Brazil
Chile
Colombia
Mexico
Paraguay
Peru
Uruguay
Venezuela, RB
Unin Europea
Francia
Alemania
Irlanda
Italia
Espaa
Reino Unido
Asia, Sur
China
India
Japn
United States
OECD
Mundo
2003
9.0
16.1
9.7
8.5
12.0
3.0
7.9
6.4
8.1
16.8
9.0
8.6
9.3
4.5
8.9
11.5
4.9
4.5
4.9
4.3
4.1
5.2
6.1
7.0
6.4
2004
8.3
12.6
8.9
8.8
11.9
3.7
7.4
5.2
9.2
15.0
9.2
9.2
10.3
4.5
7.9
11.1
4.7
4.3
4.9
4.3
3.9
4.7
5.6
6.9
6.3
2005
8.0
10.6
9.3
8.0
11.3
3.5
5.8
5.2
8.9
11.4
8.9
8.9
11.1
4.3
7.7
9.3
4.7
4.7
4.7
4.1
4.4
4.4
5.2
6.6
6.1
2006
7.3
10.1
8.4
7.7
10.5
3.2
6.7
4.6
10.6
9.3
8.2
8.8
10.3
4.4
6.8
8.6
5.5
4.5
4.5
4.0
4.3
4.1
4.7
6.1
5.8
2007
7.0
8.5
8.1
7.1
12.0
3.4
5.6
4.5
9.2
7.5
7.2
8.0
8.6
4.6
6.1
8.4
5.4
4.1
4.2
3.8
3.9
3.9
4.7
5.7
5.5
2008
6.6
7.8
7.1
7.8
13.2
3.5
5.6
4.5
7.6
6.9
7.0
7.4
7.5
6.0
6.7
11.5
5.4
4.3
4.6
4.4
4.2
4.0
5.9
6.0
5.7
2009
7.5
8.6
8.3
9.7
12.0
5.2
6.5
4.4
7.3
7.8
8.9
9.1
7.7
12.0
7.8
18.1
7.8
4.2
4.6
4.4
3.9
5.0
9.3
8.2
6.2
2010
7.3
7.7
7.9
8.1
11.6
5.2
5.7
4.0
6.8
8.6
9.6
9.3
7.1
13.9
8.4
20.2
7.8
3.8
4.4
4.2
3.5
5.0
9.7
8.4
6.1
2011
6.6
7.2
6.7
7.1
10.8
5.3
5.6
3.9
6.0
8.3
9.6
9.2
5.9
14.6
8.4
21.8
7.9
3.8
4.3
4.3
3.4
4.5
9.0
8.0
5.9
2012
6.6
7.2
6.9
6.4
10.4
4.9
6.3
4.0
6.0
7.8
10.5
9.9
5.4
14.7
10.7
25.2
7.9
3.8
4.5
4.5
3.4
4.3
8.1
8.0
5.9
25
RESUMEN ESTADISTICO
7 | INTERNACIONAL
DESEMPLEO | LARGO PLAZO

Argentina
Brazil
Chile
Colombia
Mexico
Paraguay
Peru
Uruguay
Venezuela, RB
Unin Europea
Francia
Alemania
Irlanda
Italia
Espaa
Reino Unido
Asia, Sur
China
India
Japn
United States
OECD
Mundo
2003
23.3
0.7
41.5
37.1
49.3
32.2
57.5
33.6
21.4
33.5
11.8
24.6
-
2004
33.3
26.2
0.9
41.2
40.0
51.1
34.4
47.7
32.0
20.5
33.7
12.7
25.4
-
2005
32.2
24.6
2.1
42.1
40.6
52.5
33.3
48.3
24.5
21.0
39.6
39.6
33.3
11.8
25.5
-
2006
28.6
22.6
2.2
42.7
41.5
55.7
31.4
48.5
21.7
22.2
33.0
10.0
25.1
-
2007
25.3
20.8
2.4
40.6
39.7
56.0
29.1
46.8
20.4
23.7
32.0
10.0
24.0
-
2008
27.8
18.9
1.5
36.7
37.0
51.8
27.0
45.1
17.9
24.0
33.3
10.6
22.7
-
2009
24.8
15.7
1.7
33.5
34.9
44.9
28.9
44.1
23.7
24.4
28.5
16.3
22.4
-
2010
27.5
17.7
2.1
39.1
39.8
46.9
48.7
48.0
36.6
32.6
36.3
38.2
37.6
29.0
29.3
-
2011
26.2
16.0
1.8
41.7
41.1
47.6
58.6
51.3
41.6
33.4
39.4
31.3
30.9
-
2012
27.8
14.6
1.7
42.2
39.9
45.2
61.2
52.4
44.5
34.7
38.5
29.3
30.1
-
2004
3.1
2.7
2.7
7.1
2.6
3.2
0.5
2.3
2.4
1.3
1.7
1.6
-0.4
-5.9
1.0
2.4
2.6
0.9
2.0
3.2
0.8
0.2
1.2
1.3
1.7
2005
2.9
2.9
1.8
5.6
7.0
2.8
0.1
3.2
4.8
1.9
5.4
4.2
1.5
23.2
1.1
2.7
10.9
1.0
1.8
4.6
0.9
0.1
1.1
2.6
2.9
2006
2.4
2.6
1.8
4.7
4.1
2.1
1.8
3.8
7.7
0.1
4.8
3.9
1.9
9.9
2.1
3.4
8.7
2.2
2.7
4.6
2.1
-0.1
2.1
3.1
3.4
2007
3.4
2.5
3.3
7.2
4.6
3.0
0.8
5.1
5.8
1.1
6.1
3.6
0.9
23.1
1.9
5.8
8.4
2.1
3.3
4.5
2.0
0.5
2.3
4.1
4.2
2008
3.3
3.0
3.1
8.4
4.2
2.5
1.4
5.3
7.1
0.4
4.6
2.3
0.5
8.8
-1.1
4.9
9.7
3.3
2.8
3.8
3.5
0.6
2.3
3.1
3.5
2009
2.2
1.3
1.9
7.5
3.0
1.9
0.3
4.9
5.3
-0.8
2.2
1.0
1.1
23.9
1.9
1.3
0.2
2.3
2.0
2.6
2.6
0.3
1.1
1.6
2.1
2010
2.6
2.1
2.5
7.1
2.4
2.2
1.8
5.4
5.6
0.5
1.9
1.5
0.9
18.2
-0.3
3.3
2.7
1.5
2.9
4.1
1.6
0.0
1.7
1.7
2.3
2011
3.1
2.4
2.9
9.1
4.0
2.0
0.5
4.5
5.9
1.2
2.6
1.5
1.2
10.5
1.3
2.2
1.5
1.8
3.0
3.8
1.9
0.0
1.6
2.0
2.5
2012
3.3
2.6
3.4
11.2
4.2
1.3
1.4
6.0
5.8
0.6
1.8
1.1
0.8
19.4
0.3
2.7
2.3
1.2
2.6
3.1
1.3
0.0
1.3
1.5
2.1
Como porcentage de la tasa de desempleo.
IED (% PBI)
Argentina
Brazil
Chile
Colombia
Mexico
Paraguay
Peru
Uruguay
Venezuela, RB
Unin Europea
Francia
Alemania
Irlanda
Italia
Espaa
Reino Unido
Asia, Sur
China
India
Japn
United States
OECD
Mundo
2003
2.4
1.3
1.8
5.5
1.8
2.6
0.4
2.2
3.5
2.4
2.3
2.4
1.3
14.1
1.1
2.9
1.5
0.7
1.3
3.0
0.7
0.1
0.6
1.3
1.5
26
RESUMEN ESTADISTICO
7 | INTERNACIONAL
TARIFAS PROMEDIO SIMPLE

Argentina
Brazil
Chile
Colombia
Mexico
Paraguay
Peru
Uruguay
Venezuela, RB
Unin Europea
Francia
Alemania
Irlanda
Italia
Espaa
Reino Unido
Asia, Sur
China
India
Japn
United States
OECD
Mundo
2003
14.7
14.4
18.3
13.4
2.4
2.4
2.4
2.4
2.4
2.4
2.4
18.3
10.7
3.3
3.4
4.8
8.3
2004
11.9
13.3
4.9
11.4
10.2
9.2
9.7
11.2
12.3
2.5
2.5
2.5
2.5
2.5
2.5
2.5
19.5
9.8
29.0
3.3
3.2
4.4
8.3
2005
10.6
12.4
4.9
11.9
9.2
8.4
9.2
9.9
12.8
2.3
2.3
2.3
2.3
2.3
2.3
2.3
15.6
9.2
17.0
3.3
3.2
3.8
8.0
2006
10.7
12.2
2.2
11.3
8.0
7.2
8.6
9.6
12.3
2.4
2.4
2.4
2.4
2.4
2.4
2.4
14.1
8.9
3.5
3.1
4.2
7.3
2007
10.8
12.3
2.0
10.8
8.0
8.5
9.5
12.3
2.4
2.4
2.4
2.4
2.4
2.4
2.4
13.7
8.6
4.2
2.9
3.7
7.1
2008
9.8
13.2
1.4
10.7
6.7
8.4
3.9
9.5
11.9
2.3
2.3
2.3
2.3
2.3
2.3
2.3
13.2
8.4
10.0
3.7
3.2
3.5
7.1
2009
13.0
13.4
6.0
10.7
5.7
8.1
3.8
9.7
12.2
2.2
2.2
2.2
2.2
2.2
2.2
2.2
13.7
8.2
11.5
3.3
3.0
3.7
6.9
2010
11.4
13.4
4.9
11.2
7.4
8.1
4.8
9.6
13.1
1.9
1.9
1.9
1.9
1.9
1.9
1.9
10.3
7.7
2.6
2.9
3.2
6.2
2011
9.8
13.6
6.8
8.5
3.2
9.6
11.8
1.5
1.5
1.5
1.5
1.5
1.5
1.5
7.9
2.5
2.8
-
2012
9.7
13.9
5.5
8.4
9.8
11.8
1.5
1.5
1.5
1.5
1.5
1.5
1.5
13.2
2.4
2.8
3.2
6.8
27
RESUMEN ESTADISTICO
8 | FUENTES
INDEC
PBI Real (1993) [Demanda y Oferta]

PBI Real (1993) [Actividad Economica]
EMAE
EMI
ISAC
Exportacin e Importacin de Bienes
Valor, Precio, y Cant. de Exportaciones e Importaciones
Empleo y Desempleo
MECON
Cuenta Ahorro [Base Caja]

Recaudacin Tributaria
UTDT
Indice de Confianza al Consumidor

Encuesta de Expectativas de Inflacion
Indice de Demanda Laboral
Indice Lider
BCRA
Balance Semanal
Informe Monetario Semanal
Panorama Monetario y Financiero
Balance Consolidado de Bancos
Balance Consolidado del Sistema Financiero
Balance Consolidado de Entidades Financieras
Indice de Tipo de Cambio Real Multilateral
Anexo Estadstico del Balance Cambiario
CABA
IPCBA
OJF & ASOCIADOS
IGA
WORLD BANK
World Development Indicators
28
RESUMEN ESTADISTICO
INFORMACION DE CONTACTO
Nicolas Cachanosky
Assistant Professor of Economics

Department of Economics | School of Business
Metropolitan State University of Denver
Campus Box 77, P.O. Box 173362
Denver, CO 80217
www.msudenver.edu/economics
email:
phone:
fax:
website:
blog:
twitter:
ncachano@msudenver.edu
+1 (303) 556-3218
+1 (303) 556-3966
www.ncachanosky.com
http://puntodevistaeconomico.wordpress.com
@n_cachanosky
Documentos
A Proposal of Monetary Reform for Argentina: Flexible Dollarization with
Free Banking
-with Adrian O. Ravier (Universidad Francisco Marroqun)
-versin en espaol
-english version
29

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Banco Central de la Repblica Argentina

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Sitio web: http://puntodevistaeconomico.wordpress.com/resumen-estadistico-argentina

1 | CUENTAS NACIONALES Y ACTIVIDAD ECONOMICA

PBI [OFICIAL] | VALORES

PBI [OFICIAL] | CAMBIO %

En miles de millones de ARS (Base 1993)

PBI REAL (BASE 1993) | TASA DE CRECIMIENTO

PBI Sector Privado

ACT. ECON. | VALORES

ACT. ECON. | CRECIMIENTO

En miles de millones de ARS (Base 1993)

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VAR TRIMESTRE PERIODO ANTERIOR

BALANCE DE PAGOS [INDEC]

INDICE DE TERMINOS DEL INTERCAMBIO

INDICE DE TcREAL MULTILATERAL (DIC 2001 = 100)

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EXPORT. E IMPORT. DE BIENES

EXPORTACIONES E IMPORTACIONES DE BIENES

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BCE. CAMBIARIO [ANUAL]

En miles de millones de USD.

BCE. CAMBIARIO [MENSUAL]

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BCE. CAMBIARIO [AC.]

2013 2014-T1 2014-T2 2014-T3 2014-T4

En miles de millones de USD.

En millones de USD. INDEC: Monto devengado. BCRA: Base caja.

Export. De Bs. Y Serv. (INDEC)

Export. de Bs. (BCRA)

Export. De Bs. Y Serv. (BCRA)

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PBI REAL [OFICIAL Y CONGRESO]

TASA DE CRECIMIENTO PBI

EMAE, EMI, ISAC [ENE 2007 = 100]

EXPORTACIONES E IMPORTACIONES DE BIENES

2 | BANCO CENTRAL DE LA REPUBLICA ARGENTINA

Var. Reservas (%)

Var. Reservas Netas (%)

VAR. RESERVAS POR COMPRA DE DIVISAS

Otras Op. del Sector Pblico

2 | BANCO CENTRAL DE LA REPUBLICA ARGENTINA

LEBACS Y PREST. AL GOB.

PRESTAMOS AL TESOSO NACIONAL

Var. Lebacs (%)

Var. Prest. al Tesoro (%)

VAR. BASE MONETARIA POR COMPRA DE DIVISAS

VARIACION BASE MONETARIA

2 | BANCO CENTRAL DE LA REPUBLICA ARGENTINA

84,200 127,200 190,600 301,800 364,300

Cta. Cte. en otras monedas

Cta. Cte. en otras monedas

Adelantos T. al Gob. Nac.

Crditos al Sist. Financiero

Depsitos del Gob. Nac.

Obligaciones con Org. Int.

Ap. a Org. Int. [x Gob. Nac.]

VARIACION MENSUAL ACUMULADA DE RESERVAS

VARIACION MENSUAL DE RESERVAS

2 | BANCO CENTRAL DE LA REPUBLICA ARGENTINA

BCRA | PAT. NETO AJUSTADO