Argentina construction sector faces crisis and job losses

The Argentine construction industry is facing a prolonged crisis, characterized by a 25% decline in activity between mid-2023 and mid-2024. While the sector has stabilized, it remains significantly below previous peaks, with Gustavo Weiss, president of the Argentine Chamber of Construction (CAMARCO), warning that no significant recovery is expected in the coming months.

The downturn has had severe socio-economic consequences, including the loss of approximately 120,000 jobs and the closure of roughly 2,000 companies. Many remaining firms are struggling with financial difficulties or creditor proceedings.

Weiss emphasized that infrastructure investment is a critical bottleneck for national growth, arguing that the state must play a primary role in financing large-scale projects such as roads and railways, as private investment alone cannot replace public works. While energy and mining activities in Neuquén and Río Negro—driven by Vaca Muerta—show some dynamism, they are insufficient to offset the broader national decline.