Algeria Economy: from the All Country Info reference guide to country facts

Algeria Economy

Algeria Economy: A summary of information about Algeria Economy, from government research data as well as independent research and other sources.

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Algeria: Economy

Economy - overview
The hydrocarbons sector is the backbone of the
economy, accounting for roughly 52% of budget revenues, 25% of GDP,
and over 95% of export earnings. Algeria has the fifth-largest
reserves of natural gas in the world and is the second largest gas
exporter; it ranks fourteenth for oil reserves. Algiers' efforts to
reform one of the most centrally planned economies in the Arab world
stalled in 1992 as the country became embroiled in political turmoil.
Burdened with a heavy foreign debt, Algiers concluded a one-year
standby arrangement with the IMF in April 1994 and the following year
signed onto a three-year extended fund facility which ended 30 April
1998. Some progress on economic reform, Paris Club debt reschedulings
in 1995 and 1996, and oil and gas sector expansion contributed to a
recovery in growth since 1995. Still, the economy remains heavily
dependent on volatile oil and gas revenues. The government has
continued efforts to diversify the economy by attracting foreign and
domestic investment outside the energy sector, but has had little
success in reducing high unemployment and improving living standards.
GDP
purchasing power parity - $147.6 billion (1999 est.)
GDP - real growth rate
3.9% (1999 est.)
GDP - per capita
purchasing power parity - $4,700 (1999 est.)
GDP - composition by sector
agriculture: 12%
industry: 51%
services: 37% (1997 est.)
Population below poverty line
23% (1999 est.)
Household income or consumption by percentage share
lowest 10%: 2.8%
highest 10%: 26.8% (1995)
Inflation rate (consumer prices)
4.2% (1999 est.)
Labor force
9.1 million (2000 est.)
Labor force - by occupation
government 29.5%, agriculture 22%,
construction and public works 16.2%, industry 13.6%, commerce and
services 13.5%, transportation and communication 5.2% (1989)
Unemployment rate
30% (1999 est.)
Budget
revenues: $15.5 billion
expenditures: $15.1 billion, including capital expenditures of $NA
(1999 est.)
Industries
petroleum, natural gas, light industries, mining,
electrical, petrochemical, food processing
Industrial production growth rate
7% (1999 est.)
Electricity - production
21.38 billion kWh (1998)
Electricity - production by source
fossil fuel: 99.77%
hydro: 0.23%
nuclear: 0%
other: 0% (1998)
Electricity - consumption
19.882 billion kWh (1998)
Electricity - exports
313 million kWh (1998)
Electricity - imports
312 million kWh (1998)
Agriculture - products
wheat, barley, oats, grapes, olives, citrus,
fruits; sheep, cattle
Exports
$13.7 billion (f.o.b., 1999 est.)
Exports - commodities
petroleum, natural gas, and petroleum products
97%
Exports - partners
Italy 21.2%, US 15.0%, France 12.9%, Spain 10.3%,
Brazil 5.9%, Netherlands 5.5% (1998)
Imports
$9.3 billion (f.o.b., 1999 est.)
Imports - commodities
capital goods, food and beverages, consumer
goods
Imports - partners
France 29.5%, Italy 9.8%, US 7.2%, Spain 6.8%,
Germany 6.2%, Canada 4.1% (1998)
Debt - external
$30 billion (1999 est.)
Economic aid - recipient
$897.5 million (1994)
Currency
1 Algerian dinar (DA) = 100 centimes
Exchange rates
Algerian dinars (DA) per US$1 - 69.046 (January 2000),
66.574 (1999), 58.739 (1998), 57.707 (1997), 54.749 (1996), 47.663
(1995)
Fiscal year
calendar year
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