Exports in Algeria

Algeria Exports | Economic News & Forecasts

Algeria - Exports

GDP remained below its pre-pandemic level at the end of 2021. Turning to H1 2022, the hydrocarbon sector—which constitutes around 95% of the country’s exports—is driving the ongoing recovery. Oil production was up 12.6% year on year in Q1 thanks to increased OPEC+ quotas. Gas exports to Europe surged by over 9% yoy in Q1, with a new deal with Italy the latest European move to diversify away from Russian energy. High energy prices are boosting the external and fiscal balances and encouraging new hydrocarbon investment, boding well for output ahead. This said, a lack of prior investment and the closure of a pipeline last year will cap output. Turning to the non-hydrocarbons sector, activity is likely more muted. The war in Ukraine and a drought have sent food prices spiraling. Recent VAT cuts and a new unemployment benefit will be likely unable to fully cushion the hit to private spending.

Algeria - Exports Data

2015   2016   2017   2018   2019  
Exports (USD billion)34.6  29.3  34.6  41.1  -     

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Algeria Facts

Value Change Date
Exchange Rate119.1-0.11 %Jan 01

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