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Algeria Economy 2017
https://theodora.com/wfbcurrent/algeria/algeria_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Algeria Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

Economy - overview:
Algeria's economy remains dominated by the state, a legacy of the country's socialist postindependence development model. In recent years the Algerian Government has halted the privatization of state-owned industries and imposed restrictions on imports and foreign involvement in its economy.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 10th-largest reserves of natural gas in the world and is the sixth-largest gas exporter. It ranks 16th in oil reserves. Hydrocarbon exports have enabled Algeria to maintain macroeconomic stability and amass large foreign currency reserves and a large budget stabilization fund available for tapping. In addition, Algeria's external debt is extremely low at about 2% of GDP. However, Algeria has struggled to develop non-hydrocarbon industries because of heavy regulation and an emphasis on state-driven growth.The government's efforts have done little to reduce high youth unemployment rates or to address housing shortages. A wave of economic protests in February and March 2011 prompted the Algerian Government to offer more than $23 billion in public grants and retroactive salary and benefit increases, moves which continue to weigh on public finances. Since late 2014, declining oil prices forced the government to spend down its reserves at a high rate in order to sustain social spending on salaries and subsidies, particularly since the government has been unable to boost exports of hydrocarbons or significantly grow its nonoil sector. In 2015, the Algerian Government imposed further restrictions on imports in an effort to reduce withdrawals from its foreign exchange reserves. The Government also increased the value-added tax on electricity and fuel, but said it would address subsidies at a later date.Long-term economic challenges include diversifying the economy away from its reliance on hydrocarbon exports, bolstering the private sector, attracting foreign investment, and providing adequate jobs for younger Algerians.

GDP (purchasing power parity):
$609.4 billion (2016 est.) $588.4 billion (2015 est.) $566.3 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 35
[see also: GDP country ranks ]

GDP (official exchange rate):
$168.3 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
3.6% (2016 est.) 3.9% (2015 est.) 3.8% (2014 est.)
country comparison to the world: 73
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$15,000 (2016 est.) $14,700 (2015 est.) $14,500 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 111
[see also: GDP - per capita country ranks ]

Gross national saving:
32.8% of GDP (2016 est.) 34.9% of GDP (2015 est.) 43.4% of GDP (2014 est.)
country comparison to the world: 17
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 41.5%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 22.1%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 42.1%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 6.6%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 25.1%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -37.4% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 13.1%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 38.7%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 48.2% (2016 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
wheat, barley, oats, grapes, olives, citrus, fruits; sheep, cattle

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

Industrial production growth rate:
0.5% (2016 est.)
country comparison to the world: 167
[see also: Industrial production growth rate country ranks ]

Labor force:
11.78 million (2016 est.)
country comparison to the world: 50
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 30.9%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 30.9%
[see also: Labor force - by occupation - industry country ranks ]
services: 58.4% (2011 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
12.4% (2016 est.) 11.2% (2015 est.)
country comparison to the world: 139
[see also: Unemployment rate country ranks ]

Population below poverty line:
23% (2006 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
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 ]

Distribution of family income - Gini index:
35.3 (1995)
country comparison to the world: 92
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $42.69 billion
[see also: Budget revenues country ranks ]
expenditures: $66.45 billion (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
25.4% of GDP (2016 est.)
country comparison to the world: 114
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-14.1% of GDP (2016 est.)
country comparison to the world: 211
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
16.8% of GDP (2016 est.) 9.9% of GDP (2015 est.)
note: data cover central government debt, as well as debt issued by subnational entities and intra-governmental debt
country comparison to the world: 168
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
6.7% (2016 est.) 4.8% (2015 est.)
country comparison to the world: 185
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
4% (31 December 2010) 4% (31 December 2009)
country comparison to the world: 98
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
8% (31 December 2016 est.) 8% (31 December 2015 est.)
country comparison to the world: 109
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$91.41 billion (31 December 2016 est.) $86.43 billion (31 December 2015 est.)
country comparison to the world: 38
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$133.6 billion (31 December 2016 est.) $127.9 billion (31 December 2015 est.)
country comparison to the world: 51
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$100.1 billion (31 December 2016 est.) $61.78 billion (31 December 2015 est.)
country comparison to the world: 56
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$25.34 billion (2016 est.) -$27.45 billion (2015 est.)
country comparison to the world: 189
[see also: Current account balance country ranks ]

Exports:
$26.91 billion (2016 est.) $36 billion (2015 est.)
country comparison to the world: 63
[see also: Exports country ranks ]

Exports - commodities:
petroleum, natural gas, and petroleum products 97% (2009 est.)

Exports - partners:
Spain 18.8%, France 11.2%, US 8.8%, Italy 8.7%, UK 7.1%, Brazil 5.2%, Tunisia 4.9%, Germany 4.5% (2015)

Imports:
$44.6 billion (2016 est.) $50.7 billion (2015 est.)
country comparison to the world: 51
[see also: Imports country ranks ]

Imports - commodities:
capital goods, foodstuffs, consumer goods

Imports - partners:
China 15.6%, France 14.4%, Italy 9.4%, Spain 7.4%, Germany 5.6%, Russia 4.1% (2015)

Reserves of foreign exchange and gold:
$115 billion (31 December 2016 est.) $144.9 billion (31 December 2015 est.)
country comparison to the world: 21
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$5.934 billion (31 December 2016 est.) $5.143 billion (31 December 2015 est.)
country comparison to the world: 128
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$25.54 billion (31 December 2016 est.) $25.89 billion (31 December 2015 est.)
country comparison to the world: 71
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$2.025 billion (31 December 2016 est.) $1.95 billion (31 December 2015 est.)
country comparison to the world: 80
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Algerian dinars (DZD) per US dollar - 110.1 (2016 est.) 100.691 (2015 est.) 100.691 (2014 est.) 80.579 (2013 est.) 77.54 (2012 est.)


NOTE: The information regarding Algeria on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Algeria Economy 2017 information contained here. All suggestions for corrections of any errors about Algeria Economy 2017 should be addressed to the CIA.




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