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    Algeria Economy - 1990

      Overview: The exploitation of oil and natural gas products forms the backbone of the economy. Algeria depends on hydrocarbons for nearly all of its export receipts, about 30% of government revenues, and nearly 25% of GDP. In 1973-74 the sharp increase in oil prices led to a booming economy that helped to finance an ambitious program of industrialization. Plunging oil and gas prices, combined with the mismanagement of Algeria's highly centralized economy, have brought the nation to its most serious social and economic crisis since independence. The government has promised far-reaching reforms, including giving public sector companies more autonomy, encouraging private-sector activity, boosting gas and nonhydrocarbon exports, and a major overhaul of the banking and financial systems. In 1988 the government started to implement a new economic policy to dismantle large state farms into privately operated units.

      GDP: $54.1 billion, per capita $2,235; real growth rate - 1.8% (1988)

      Inflation rate (consumer prices): 5.9% (1988)

      Unemployment rate: 19% (1988)

      Budget: revenues $17.4 billion; expenditures $22.0 billion, including capital expenditures of $8.0 billion (1988)

      Exports: $9.1 billion (f.o.b., 1989 est.); commodities--petroleum and natural gas 98%; partners--Netherlands, Czechoslovakia, Romania, Italy, France, US

      Imports: $7.8 billion (f.o.b., 1989 est.); commodities--capital goods 35%, consumer goods 36%, food 20%; partners--France 25%, Italy 8%, FRG 8%, US 6-7%

      External debt: $26.2 billion (December 1989)

      Industrial production: growth rate 5.4% (1986)

      Electricity: 4,333,000 kW capacity; 14,370 million kWh produced, 580 kWh per capita (1989)

      Industries: petroleum, light industries, natural gas, mining, electrical, petrochemical, food processing

      Agriculture: accounts for 8% of GDP and employs 24% of labor force; net importer of food--grain, vegetable oil, and sugar; farm production includes wheat, barley, oats, grapes, olives, citrus, fruits, sheep, and cattle

      Aid: US commitments, including Ex-Im (FY70-85), $1.4 billion; Western (non-US) countries, ODA and OOF bilateral commitments (1970-87), $8.2 billion; OPEC bilateral aid (1979-89), $1.8 billion; Communist countries (1970-88), $2.7 billion

      Currency: Algerian dinar (plural--dinars); 1 Algerian dinar (DA) = 100 centimes

      Exchange rates: Algerian dinars (DA) per US$1--8.0086 (January 1990), 7.6086 (1989), 5.9148 (1988), 4.8497 (1987), 4.7023 (1986), 5.0278 (1985)

      Fiscal year: calendar year

      NOTE: The information regarding Algeria on this page is re-published from the 1990 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Algeria Economy 1990 information contained here. All suggestions for corrections of any errors about Algeria Economy 1990 should be addressed to the CIA.

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    Revised 07-Feb-03
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