Algeria Economy 2018, CIA World Factbook
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Algeria Economy 2018

SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES











Algeria Economy 2018
SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 28, 2018

Economy - overview:
Algeria's economy remains dominated by the state, a legacy of the country's socialist post-independence 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 30% of GDP, 60% of budget revenues, and nearly 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 enabled Algeria to maintain macroeconomic stability and amass large foreign currency reserves while oil prices were high. 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. Declining oil prices since 2014 have reduced the government’s ability to use state-driven growth to distribute rents and fund generous public subsidies. Algeria’s foreign exchange reserves have declined by more than 40% since late 2013 and its oil stabilization fund has decreased from about $75 billion at the end of 2013 to about $7 billion in 2017, which is the statutory minimum.Algiers has strengthened protectionist measures since 2015 to limit its import bill and encourage domestic production of non-oil and gas industries. Since 2015, the government has imposed additional regulatory requirements on access to foreign exchange for imports and import quotas for specific products, such as cars, to limit their importation. Meanwhile, Algeria has not increased non-hydrocarbon exports, and hydrocarbon exports have declined because of field depletion and increased domestic demand.With declining revenues caused by falling oil prices, the government has been under pressure to reduce spending. A wave of economic protests in February and March 2011 prompted Algiers to offer more than $23 billion in public grants and retroactive salary and benefit increases, moves which continue to weigh on public finances. In 2016, the government increased taxes on electricity and fuel, resulting in a modest increase in gasoline prices, and in 2017 raised by 2% the value-added tax on nearly all products, but has refrained from directly reducing subsidies, particularly for education, healthcare, and housing programs.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):
$629.3 billion (2017 est.) $620.2 billion (2016 est.) $600.4 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 37

GDP (official exchange rate):
$175.5 billion (2016 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
1.5% (2017 est.) 3.3% (2016 est.) 3.7% (2015 est.)
country comparison to the world: 176
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$15,100 (2017 est.) $15,200 (2016 est.) $15,000 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 110

Gross national saving:
34.9% of GDP (2017 est.) 37.2% of GDP (2016 est.) 36.3% of GDP (2015 est.)
country comparison to the world: 13
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 42.7%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 21.4%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 42.7%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 7.6%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 21%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -35.5% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 13.2%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 36.1%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 50.7% (2017 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:
0.9% (2017 est.)
country comparison to the world: 171
[see also: Industrial production growth rate country ranks ]

Labor force:
11.82 million (2017 est.)
country comparison to the world: 51
[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.) (2011 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
11.7% (2017 est.) 10.5% (2016 est.)
country comparison to the world: 150
[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)

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: $52.08 billion
[see also: Budget - revenues country ranks ]
expenditures: $70.74 billion (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
29.7% of GDP (2017 est.)
country comparison to the world: 84
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-10.6% of GDP (2017 est.)
country comparison to the world: 210
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
19.9% of GDP (2017 est.) 18% of GDP (2016 est.)
note: data cover central government debt, as well as debt issued by subnational entities and intra-governmental debt
country comparison to the world: 187
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
5.5% (2017 est.) 6.4% (2016 est.)
country comparison to the world: 177
[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: 97
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
8% (31 December 2017 est.) 8% (31 December 2016 est.)
country comparison to the world: 111
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$86.45 billion (31 December 2017 est.) $85.11 billion (31 December 2016 est.)
country comparison to the world: 43
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$126.5 billion (31 December 2017 est.) $125 billion (31 December 2016 est.)
country comparison to the world: 54
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$105.8 billion (31 December 2017 est.) $86.53 billion (31 December 2016 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:
-$22.87 billion (2017 est.) -$26.31 billion (2016 est.)
country comparison to the world: 194
[see also: Current account balance country ranks ]

Exports:
$33.15 billion (2017 est.) $29.06 billion (2016 est.)
country comparison to the world: 60
[see also: Exports country ranks ]

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

Exports - partners:
Italy 17.4%, Spain 12.9%, US 12.9%, France 11.4%, Brazil 5.4%, Netherlands 4.9%, Turkey 4.5%, Canada 4.3% (2016)

Imports:
$49.99 billion (2017 est.) $49.43 billion (2016 est.)
country comparison to the world: 50
[see also: Imports country ranks ]

Imports - commodities:
capital goods, foodstuffs, consumer goods

Imports - partners:
China 17.8%, France 10.1%, Italy 9.8%, Spain 7.6%, Germany 6.4%, US 4.9%, Turkey 4.1% (2016)

Reserves of foreign exchange and gold:
$97.67 billion (31 December 2017 est.) $114.7 billion (31 December 2016 est.)
country comparison to the world: 26
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$8.163 billion (31 December 2017 est.) $5.088 billion (31 December 2016 est.)
country comparison to the world: 122
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$26.24 billion (31 December 2017 est.) $25.74 billion (31 December 2016 est.)
country comparison to the world: 72
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$2.123 billion (31 December 2017 est.) $2.025 billion (31 December 2016 est.)
country comparison to the world: 81
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Algerian dinars (DZD) per US dollar - 108.9 (2017 est.) 109.443 (2016 est.) 109.443 (2015 est.) 100.691 (2014 est.) 80.579 (2013 est.)


NOTE: 1) The information regarding Algeria on this page is re-published from the 2018 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Algeria Economy 2018 information contained here. All suggestions for corrections of any errors about Algeria Economy 2018 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) The assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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