External Debt in Algeria
GDP rose 3.2% in 2022. This figure was above the 10-year average of 1.9% but below slightly last year’s print. Compared to the prior year, the hydrocarbons sector weakened dramatically in 2022, contracting 0.6% (2021: +10.5%). The decline was largely due to a fall in LNG output linked to the closure of the Maghreb pipeline in late 2021. Meanwhile, the non-hydrocarbons sector grew 4.3% (2021: +2.3%). Looking at expenditure components, private spending, fixed investment and exports slowed, while public spending accelerated. Turning to 2023, oil output expanded 3.1% year on year in January–April (2022: 11.9%). In the same period, inflation remained near double-digits, likely crimping private spending. Meanwhile, a recent drought should knock wheat yields to around 20% below the five-year average this year, likely hitting agricultural output and stoking inflation.
Algeria External Debt Chart
This chart displays External Debt (USD bn) for Algeria from 2012 to 2021.
Algeria External Debt Data
2017 | 2018 | 2019 | 2020 | 2021 | |
---|---|---|---|---|---|
External Debt (USD bn) | 6 | 6 | 5 | 5 | 7 |