Economy - overview:
Algeria's economy remains dominated by the state, a legacy of the country's socialist post-independence development model. Gradual liberalization since the mid-1990s has opened up more of the economy, but in recent years Algeria has imposed new restrictions on foreign involvement in its economy and largely halted the privatization of state-owned industries. Hydrocarbons have long been the backbone of the economy, accounting for roughly 60% of budget revenues, 30% of GDP, and over 95% of export earnings. Algeria has the eighth-largest reserves of natural gas in the world and is the fourth-largest gas exporter. It ranks 16th in oil reserves. Thanks to strong hydrocarbon revenues, Algeria has a cushion of $150 billion in foreign currency reserves and a large hydrocarbon stabilization fund. In addition, Algeria's external debt is extremely low at about 1% of GDP. Algeria has struggled to develop industires outside of hydrocarbons in part because of high costs and an inert state bureaucracy.The government's efforts to diversify the economy by attracting foregin and domestic investment outside the energy sector have done little to reduce high poverty and youth unemployment rates. In 2010, Algeria began a five-year, $286 billion development program to update the country's infrastructure and provide jobs. The costly program will boost Algeria's economy in 2011 but worsen the country's budget deficit. Long-term economic challenges include diversification from hydrocarbons, relaxing state control of the economy, and providing adequate jobs for youger Algerians.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Investment (gross fixed): Budget: Public debt: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Oil - proved reserves: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
NOTE: The information regarding Algeria on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Algeria Economy 2011 information contained here. All suggestions for corrections of any errors about Algeria Economy 2011 should be addressed to the CIA.
$254.7 billion (2010 est.)
country comparison to the world: 48
note:
data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]
$159 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]
4.1% (2010 est.)
country comparison to the world: 74
[see also: GDP - real growth rate country ranks ]
$7,400 (2010 est.)
country comparison to the world: 127
note:
data are in 2010 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 8.3%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
61.5%
[see also: GDP - composition by sector - industry country ranks ]
services:
30.2% (2009 est.)
[see also: GDP - composition by sector - services country ranks ]
9.877 million (2009 est.)
country comparison to the world: 49
[see also: Labor force country ranks ]
agriculture: 14%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
13.4%
[see also: Labor force - by occupation - industry country ranks ]
construction and public works:
10%
trade:
14.6%
government:
32%
other:
16% (2003 est.)
9.9% (2010 est.)
country comparison to the world: 110
[see also: Unemployment rate country ranks ]
23% (2006 est.)
[see also: Population below poverty line country ranks ]
lowest 10%: 2.8%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
26.8% (1995)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
35.3 (1995)
country comparison to the world: 86
[see also: Distribution of family income - Gini index country ranks ]
27.5% of GDP (2009 est.)
country comparison to the world: 29
[see also: Investment (gross fixed) country ranks ]
revenues: $66.48 billion
[see also: Budget - revenues country ranks ]
expenditures:
$85.57 billion (2009 est.)
[see also: Budget - expenditures country ranks ]
25.7% of GDP (2010 est.)
country comparison to the world: 95
[see also: Public debt country ranks ]
5% (2010 est.)
country comparison to the world: 142
[see also: Inflation rate (consumer prices) country ranks ]
4% (31 December 2009)
country comparison to the world: 107
[see also: Central bank discount rate country ranks ]
8% (31 December 2009 est.)
country comparison to the world: 118
[see also: Commercial bank prime lending rate country ranks ]
$79.07 billion (31 December 2010 est)
[see also: Stock of narrow money country ranks ]
$109.7 billion (31 December 2010 est.)
[see also: Stock of broad money country ranks ]
$12.29 billion (31 December 2009 est.)
country comparison to the world: 89
[see also: Stock of domestic credit country ranks ]
$NA
[see also: Market value of publicly traded shares country ranks ]
wheat, barley, oats, grapes, olives, citrus, fruits; sheep, cattle
petroleum, natural gas, light industries, mining, electrical, petrochemical, food processing
4.8% (2009 est.)
country comparison to the world: 68
[see also: Industrial production growth rate country ranks ]
34.98 billion kWh (2007 est.)
country comparison to the world: 61
[see also: Electricity - production country ranks ]
28.34 billion kWh (2007 est.)
country comparison to the world: 62
[see also: Electricity - consumption country ranks ]
273 million kWh (2007 est.)
[see also: Electricity - exports country ranks ]
279 million kWh (2007 est.)
[see also: Electricity - imports country ranks ]
2.125 million bbl/day (2009 est.)
country comparison to the world: 16
[see also: Oil - production country ranks ]
325,000 bbl/day (2009 est.)
country comparison to the world: 39
[see also: Oil - consumption country ranks ]
1.891 million bbl/day (2007 est.)
country comparison to the world: 12
[see also: Oil - exports country ranks ]
14,320 bbl/day (2007 est.)
country comparison to the world: 128
[see also: Oil - imports country ranks ]
13.42 billion bbl (1 January 2010 est.)
country comparison to the world: 16
[see also: Oil - proved reserves country ranks ]
86.5 billion cu m (2008 est.)
country comparison to the world: 7
[see also: Natural gas - production country ranks ]
26.83 billion cu m (2008 est.)
country comparison to the world: 28
[see also: Natural gas - consumption country ranks ]
59.67 billion cu m (2008 est.)
country comparison to the world: 4
[see also: Natural gas - exports country ranks ]
0 cu m (2008 est.)
country comparison to the world: 202
[see also: Natural gas - imports country ranks ]
4.502 trillion cu m (1 January 2010 est.)
country comparison to the world: 10
[see also: Natural gas - proved reserves country ranks ]
$3.959 billion (2010 est.)
country comparison to the world: 33
[see also: Current account balance country ranks ]
$52.66 billion (2010 est.)
country comparison to the world: 50
[see also: Exports country ranks ]
petroleum, natural gas, and petroleum products 97%
US 23.2%, Italy 17.23%, Spain 10.83%, France 7.97%, Canada 7.65%, Netherlands 5.19%, Turkey 4.22% (2009)
$37.07 billion (2010 est.)
country comparison to the world: 52
[see also: Imports country ranks ]
capital goods, foodstuffs, consumer goods
France 19.7%, China 11.72%, Italy 10.19%, Spain 8.13%, Germany 5.77%, Turkey 5.05% (2009)
$150.1 billion (31 December 2010 est.)
country comparison to the world: 11
[see also: Reserves of foreign exchange and gold country ranks ]
$4.138 billion (31 December 2010 est.)
country comparison to the world: 116
[see also: Debt - external country ranks ]
$19.34 billion (31 December 2010 est.)
country comparison to the world: 69
[see also: Stock of direct foreign investment - at home country ranks ]
$1.844 billion (31 December 2010 est.)
country comparison to the world: 68
[see also: Stock of direct foreign investment - abroad country ranks ]
Algerian dinars (DZD) per US dollar - 76 (2010), 72.6474 (2009), 63.25 (2008), 69.9 (2007), 72.647 (2006)
This page was last modified 09-Feb-11