unbekannter Gast

Algeria: Economy#

Algeria's economy remains dominated by the state, a legacy of the country's socialist postindependence development model. In recent years the Algerian Government has halted the privatization of state-owned industries and imposed restrictions on imports and foreign involvement in its economy. Hydrocarbons have long been the backbone of the economy, accounting for roughly 60% of budget revenues, 30% of GDP, and over 95% of export earnings. Algeria has the 10th-largest reserves of natural gas in the world and is the sixth-largest gas exporter. It ranks 16th in oil reserves. Strong revenues from hydrocarbon exports have brought Algeria relative macroeconomic stability, with foreign currency reserves approaching $200 billion and a large budget stabilization fund available for tapping. In addition, Algeria's external debt is extremely low at about 2% of GDP. However, Algeria has struggled to develop non-hydrocarbon industries because of heavy regulation and an emphasis on state-driven growth. The government's efforts have done little to reduce high youth unemployment rates or to address housing shortages. A wave of economic protests in February and March 2011 prompted the Algerian Government to offer more than $23 billion in public grants and retroactive salary and benefit increases, moves which continue to weigh on public finances. Long-term economic challenges include diversifying the economy away from its reliance on hydrocarbon exports, bolstering the private sector, attracting foreign investment, and providing adequate jobs for younger Algerians.

Economic Facts#

GDP (purchasing power parity)$284.7 billion (2013 est.)
$276.2 billion (2012 est.)
$267.4 billion (2011 est.)
note: data are in 2013 US dollars
GDP - real growth rate3.1% (2013 est.)
3.3% (2012 est.)
2.6% (2011 est.)
GDP - per capita (PPP)$7,500 (2013 est.)
$7,400 (2012 est.)
$7,300 (2011 est.)
note: data are in 2013 US dollars
GDP - composition, by sector of originagriculture: 9.4%
industry: 62.6%
services: 28% (2013 est.)
Population below poverty line23% (2006 est.)
Household income or consumption by percentage sharelowest 10%: 2.8%
highest 10%: 26.8% (1995)
Labor force - by occupationagriculture: 14%
industry: 13.4%
construction and public works: 10%
trade: 14.6%
government: 32%
other: 16% (2003 est.)
Exports - commoditiespetroleum, natural gas, and petroleum products 97%
Exports - partnersItaly 16%, US 15%, Spain 10.9%, France 8.5%, Netherlands 7.3%, Canada 7.1%, UK 5.1%, Brazil 4.7% (2012)
Agriculture - productswheat, barley, oats, grapes, olives, citrus, fruits; sheep, cattle
Budgetrevenues: $80.55 billion
expenditures: $85.58 billion (2013 est.)
Imports - commoditiescapital goods, foodstuffs, consumer goods
Imports - partnersFrance 12.8%, China 11.8%, Italy 10.3%, Spain 8.6%, Germany 5.2% (2012)
Exchange ratesAlgerian dinars (DZD) per US dollar -
78.77 (2013 est.)
77.536 (2012 est.)
74.386 (2010 est.)
72.65 (2009)
63.25 (2008)
Exports$68.25 billion (2013 est.)
$71.74 billion (2012 est.)
Debt - external$5.278 billion (31 December 2013 est.)
$5.639 billion (31 December 2012 est.)
Fiscal yearcalendar year
Imports$55.02 billion (2013 est.)
$51.57 billion (2012 est.)
Industrial production growth rate2.5% (2013 est.)
Industriespetroleum, natural gas, light industries, mining, electrical, petrochemical, food processing
Inflation rate (consumer prices)3.9% (2013 est.)
8.9% (2012 est.)
Labor force11.15 million (2013 est.)
Unemployment rate10.3% (2013 est.)
10.7% (2012 est.)
Distribution of family income - Gini index35.3 (1995)
Public debt13.2% of GDP (2013 est.)
8.3% of GDP (2012 est.)
note: data cover central government debt; the data include debt issued by subnational entities, as well as intra-governmental debt
Current account balance$6.697 billion (2013 est.)
$12.3 billion (2012 est.)
Reserves of foreign exchange and gold$192.5 billion (31 December 2013 est.)
$191.6 billion (31 December 2012 est.)
GDP (official exchange rate)$215.7 billion (2013 est.)
Stock of direct foreign investment - at home$25.02 billion (31 December 2013 est.)
$23.26 billion (31 December 2012 est.)
Stock of direct foreign investment - abroad$2.433 billion (31 December 2013 est.)
$2.133 billion (31 December 2012 est.)
Market value of publicly traded shares$NA
Central bank discount rate4% (31 December 2010 est.)
4% (31 December 2009 est.)
Commercial bank prime lending rate8% (31 December 2013 est.)
8% (31 December 2012 est.)
Stock of domestic credit$-4.337 billion (31 December 2013 est.)
$-4.363 billion (31 December 2012 est.)
Stock of narrow money$92.91 billion (31 December 2013 est.)
$98.36 billion (31 December 2012 est.)
Stock of broad money$140.2 billion (31 December 2013 est.)
$141 billion (31 December 2012 est.)
Taxes and other revenues37.3% of GDP (2013 est.)
Budget surplus (+) or deficit (-)-2.3% of GDP (2013 est.)
GDP - composition, by end usehousehold consumption: 33.7%
government consumption: 20.6%
investment in fixed capital: 32.9%
investment in inventories: 8.2%
exports of goods and services: 33.3%
imports of goods and services: -28.7%
(2013 est.)
Gross national saving45.5% of GDP (2013 est.)
44.4% of GDP (2012 est.)
47.7% of GDP (2011 est.)