Industry in Algeria

Algeria Industry | Economic News & Forecasts

Algeria - Industry

The economy accelerated in Q1 after a solid performance of the agricultural and industrial sectors. Meanwhile, renewed efforts by state-owned Sonatrach to woo foreign investors should have reinforced oil-sector momentum in Q2, ahead of the scheduled start of operations at the Touat gas field in H2. The trade deficit was halved from last year in H1 on higher oil prices, but foreign reserves still declined to USD 90bn by the end of May as the import bill remained large. Sonatrach has been in talks with major oil companies to start a trading joint-venture—a deal could reasonably be expected by the end of August—and signed an agreement on 19 July with Italy’s ENI to create a gas hub in the Berkine basin. It also expects to reach a deal with ExxonMobil by year-end to exploit shale oil.

Algeria - Industry Data

2013  2014  2015  2016  2017  
Industrial Production (annual variation in %)2.2  -1.4  0.6  1.5  2.3  

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Algeria Industry Chart

Algeria Industry
Note: Annual variation of industrial production in %.
Source: National Office of Statistics.

Algeria Facts

Exchange Rate119.2-0.11 %Aug 15

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