Argentina business closures exceed 30,000 since Milei administration began

Argentina is experiencing a significant contraction in its business landscape, with reports indicating that over 30,000 private companies have closed since the beginning of Javier Milei's presidency in December 2023. Data from the Superintendencia de Riesgos del Trabajo (SRT) shows that the number of employer companies fell by approximately 6 percent during this period.

The decline is widespread across most provinces, with major economic hubs like Buenos Aires, Córdoba, and Santa Fe seeing substantial losses. Sectors such as manufacturing, commerce, and transportation have been particularly hard hit. In Entre Ríos, while industrial employment has shown some resilience compared to 2022 levels, the province still saw a net loss of 663 companies over the last year.

Neuquén stands as the sole exception to this national trend, recording a slight increase in private employer companies. This growth is attributed to the Vaca Muerta energy region, which serves as a primary driver for local logistics, construction, and service industries, providing a buffer against the broader economic downturn.