Industry in Algeria
Algeria - Industry
The 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
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Industrial Production (annual variation in %) | 2.2 | -1.4 | 0.6 | 1.5 | 2.3 |
Algeria Industry Chart
Source: National Office of Statistics.
Algeria Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 118.7 | -0.11 % | Oct 22 |
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