Industry in Algeria
Algeria - IndustryThe 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
|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||119.2||-0.11 %||Aug 15|
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