Industry in Algeria
Algeria - IndustryThe oil-sector, led by state firm Sonatrach’s USD 56 billion investment plan for the 2018–2022 period, continues to propel economic momentum, while non-oil growth remains feeble amid extremely high youth unemployment. Sonatrach recently announced several new projects, including a USD 6 billion phosphate plant in a joint-venture with Chinese firms, a new USD 280 million gas pipeline to boost exports to Europe, and the start of offshore drilling in 2019. It will also increase LNG exports to Turkey by a billion cubic meters a year starting next year. Meanwhile, the government’s recently unveiled draft budget for 2019 sees a 1.5% spending reduction and the postponement of subsidy cuts.
Algeria - Industry Data
|Industrial Production (annual variation in %)||2.2||-1.4||0.6||1.5||2.3|
5 years of economic forecasts for more than 30 economic indicators.
Algeria Industry Chart
Source: National Office of Statistics.
|Exchange Rate||118.7||-0.11 %||Oct 22|
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