Current Account in Algeria

Algeria Current Account | Economic News & Forecasts

Algeria - Current Account

After a weak showing in H1, growth likely improved in H2 2018 amid a ramp-up of fiscal spending and investment from state oil firm Sonatrach. While tumbling oil prices in Q4 likely dented economic momentum, the annual trade deficit more than halved as of November, though foreign reserves kept falling. Further Sonatrach investments should drive momentum going forward. In recent weeks, the company signed contracts for over USD 1 billion of natural gas projects, adding to the USD 6 billion phosphate plant deal signed on 26 November in a joint-venture with a Chinese firm.

Algeria - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)0.6  -4.3  -16.4  -16.5  -12.9  

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Algeria Current Account Chart

Algeria Current Account
Note: Current account balance as % of GDP.
Source: National Office of Statistics and FocusEconomics calculations.

Algeria Facts

Exchange Rate118.4-0.11 %Jan 16

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