Algeria Economy - 2023

GEOGRAPHICAL NAMES 

Economic overview

suffering oil and gas economy; lack of sector and market diversification; political instability chilling domestic consumption; poor credit access and declines in business confidence; COVID-19 austerity policies; delayed promised socio-economic reforms

Real GDP (purchasing power parity)

$487.716 billion (2021 est.)

$471.223 billion (2020 est.)

$496.547 billion (2019 est.)

note: data are in 2017 dollars

Real GDP growth rate

3.5% (2021 est.)

-5.1% (2020 est.)

1% (2019 est.)

Real GDP per capita

$11,000 (2021 est.)

$10,800 (2020 est.)

$11,600 (2019 est.)

note: data are in 2017 dollars

GDP (official exchange rate)

$169.912 billion (2019 est.)

Inflation rate (consumer prices)

7.23% (2021 est.)

2.42% (2020 est.)

1.95% (2019 est.)

Credit ratings

note: The year refers to the year in which the current credit rating was first obtained.

GDP - composition, by sector of origin

agriculture: 13.3% (2017 est.)

industry: 39.3% (2017 est.)

services: 47.4% (2017 est.)

GDP - composition, by end use

household consumption: 42.7% (2017 est.)

government consumption: 20.2% (2017 est.)

investment in fixed capital: 38.1% (2017 est.)

investment in inventories: 11.2% (2017 est.)

exports of goods and services: 23.6% (2017 est.)

imports of goods and services: -35.8% (2017 est.)

Agricultural products

potatoes, wheat, milk, watermelons, barley, onions, tomatoes, oranges, dates, vegetables

Industries

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

Industrial production growth rate

7.36% (2021 est.)

Labor force

12.312 million (2021 est.)

Labor force - by occupation

agriculture: 10.8%

industry: 30.9%

services: 58.4% (2011 est.)

Unemployment rate

12.7% (2021 est.)

12.55% (2020 est.)

10.51% (2019 est.)

Youth unemployment rate (ages 15-24)

total: 31.9%

male: 27.8%

female: 54% (2021 est.)

Population below poverty line

5.5% (2011 est.)

Gini Index coefficient - distribution of family income

27.6 (2011 est.)

Average household expenditures

on food: 37.3% of household expenditures (2018 est.)

on alcohol and tobacco: 1% of household expenditures (2018 est.)

Household income or consumption by percentage share

lowest 10%: 2.8%

highest 10%: 26.8% (1995)

Budget

revenues: $55.185 billion (2019 est.)

expenditures: $64.728 billion (2019 est.)

Budget surplus (+) or deficit (-)

-9.6% (of GDP) (2017 est.)

Public debt

27.5% of GDP (2017 est.)

20.4% of GDP (2016 est.)

note: data cover central government debt as well as debt issued by subnational entities and intra-governmental debt

Taxes and other revenues

32.3% (of GDP) (2017 est.)

Fiscal year

calendar year

Current account balance

-$4.608 billion (2021 est.)

-$18.187 billion (2020 est.)

-$16.954 billion (2019 est.)

Exports

$41.776 billion (2021 est.)

$24.902 billion (2020 est.)

$38.551 billion (2019 est.)

note: Data are in current year dollars and do not include illicit exports or re-exports.

Exports - partners

Italy 13%, France 13%, Spain 12%, United States 7%, United Kingdom 7%, India 5%, South Korea 5% (2019)

Exports - commodities

natural gas, crude petroleum, refined petroleum, fertilizers, ammonia (2021)

Imports

$44.322 billion (2021 est.) note: data are in current year dollars

$42.347 billion (2020 est.) note: data are in current year dollars

$54.259 billion (2019 est.)

Imports - partners

China 18%, France 14%, Italy 8%, Spain 8%, Germany 5%, Turkey 5% (2019)

Imports - commodities

refined petroleum, wheat, packaged medical supplies, milk, vehicle parts (2019)

Reserves of foreign exchange and gold

$56.211 billion (31 December 2021 est.)

$59.434 billion (31 December 2020 est.)

$71.796 billion (31 December 2019 est.)

Debt - external

$5.574 billion (2019 est.)

$5.666 billion (2018 est.)

Exchange rates

Algerian dinars (DZD) per US dollar -

135.064 (2021 est.)

126.777 (2020 est.)

119.354 (2019 est.)

116.594 (2018 est.)

110.973 (2017 est.)

NOTE: The information regarding Algeria on this page is re-published from the 2023 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Algeria 2023 information contained here. All suggestions for corrections of any errors about Algeria 2023 should be addressed to the CIA or the source cited on each page.