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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

Discrepancia Estadstica
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

Discrepancia Estadstica

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
2014 | 2do Trimestre

1 | CUENTAS NACIONALES Y ACTIVIDAD ECONOMICA

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
2014 | 2do Trimestre

1 | CUENTAS NACIONALES Y ACTIVIDAD ECONOMICA

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
2014 | 2do Trimestre

1 | CUENTAS NACIONALES Y ACTIVIDAD ECONOMICA

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
Pago por Importaciones
Industria Automotriz
Petroleo
Ind. Qumica, Caucho y Plstico
Maquinaria y Equipos
Comercio
Metales Comunes y Elaboracion
Elmentos, Bebidas y Tabaco
Electricidad
Oleaginosas y Cereales
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]


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
Pago por Importaciones
Industria Automotriz
Petroleo
Ind. Qumica, Caucho y Plstico
Maquinaria y Equipos
Comercio
Metales Comunes y Elaboracion
Elmentos, Bebidas y Tabaco
Electricidad
Oleaginosas y Cereales
Otros Sectores
Cobros Netos
En miles de millones de USD.

RESUMEN ESTADISTICO
2014 | 2do Trimestre

1 | CUENTAS NACIONALES Y ACTIVIDAD ECONOMICA

BCE. CAMBIARIO [AC.]


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
Pago por Importaciones
Industria Automotriz
Petroleo
Ind. Qumica, Caucho y Plstico
Maquinaria y Equipos
Comercio
Metales Comunes y Elaboracion
Elmentos, Bebidas y Tabaco
Electricidad
Oleaginosas y Cereales
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

En miles de millones de USD.

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
2014 | 2do Trimestre

1 | CUENTAS NACIONALES Y ACTIVIDAD ECONOMICA

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
2014 | 2do Trimestre

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
2014 | 2do Trimestre

2 | BANCO CENTRAL DE LA REPUBLICA ARGENTINA

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
2014 | 2do Trimestre

2 | BANCO CENTRAL DE LA REPUBLICA ARGENTINA


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


Depsitos del Gob. Nac.
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

Depsitos del Gob. Nac.

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
2014 | 2do Trimestre

2 | BANCO CENTRAL DE LA REPUBLICA ARGENTINA

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
2014 | 2do Trimestre

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 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

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
2014 | 2do Trimestre

3 | SISTEMA FINANCIERO
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

Depsitos Gob. Nacional


Depsitos Provincias y Mun.
Depsitos Otros Entes Of.

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
Depsitos Caja de Ahorro
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
2014 | 2do Trimestre

3 | SISTEMA FINANCIERO
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

2011 = 100. Ajustado con IPC-C [IPC Congreso]

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
2014 | 2do Trimestre

3 | SISTEMA FINANCIERO

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
2014 | 2do Trimestre

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
2014 | 2do Trimestre

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
2014 | 2do Trimestre

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

2011 = 100. Ajustado con IPC-C [IPC Congreso]

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
2014 | 2do Trimestre

5 | RESUMEN FISCAL [NIVEL NACION]

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
Resultado Financiero

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
Ingresos Tributarios
Seguridad Social
Rentas de la Propiedad
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
Resultado Financiero

600,000
400,000
200,000
0
2010
-200,000

2011

2012

2013

19

RESUMEN ESTADISTICO
2014 | 2do Trimestre

5 | RESUMEN FISCAL [NIVEL NACION]

BASE CAJA | REAL


Ingresos Corrientes
Ingresos Tributarios
Seguridad Social
Rentas de la Propiedad
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
Resultado Financiero

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

2011 = 100. Ajustado con IPC-C [IPC Congreso]

BASE CAJA | CORRECCION


Resultado Financiero
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

Resultado Financiero

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
2014 | 2do Trimestre

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
2014 | 2do Trimestre

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
2014 | 2do Trimestre

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)
Latino America y Caribe
Argentina
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

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
2014 | 2do Trimestre

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
Latino America y Caribe
Argentina
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

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
2014 | 2do Trimestre

7 | INTERNACIONAL
Dec-03

Dec-04

Dec-05

Dec-06

Dec-07

Dec-08

Dec-09

Dec-10

Dec-11

Dec-12

INFLACION | IPC
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

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
Latino America y Caribe
Argentina
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

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
2014 | 2do Trimestre

7 | INTERNACIONAL

DESEMPLEO | LARGO PLAZO


Latino America y Caribe
Argentina
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

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)
Latino America y Caribe
Argentina
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

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
2014 | 2do Trimestre

7 | INTERNACIONAL

TARIFAS PROMEDIO SIMPLE


Latino America y Caribe
Argentina
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

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
2014 | 2do Trimestre

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
2014 | 2do Trimestre

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