Algeria: Trade Surplus Booms

September 2004
Africa Monitor: North Africa Monitor;Sep2004, Vol. 9 Issue 9, p1
Country Report
Country Report
Latest data from the Office of National Statistics show that the trade surplus of Algeria reached US$5.6bn in H104. This is largely due to the strong revenues of the hydrocarbons sector, which accounted for 97.5% of exports last year: oil and gas exports were up 9.2% year-on-year in 2003, at US$24bn. Rising production in both oil and gas sectors, combined with firm gas prices, will largely compensate for a possible oil price slide. Yet, over the longer term, diversification remains imperative for sustainable growth. Hydrocarbons exports will benefit from the improving of access to Asian and European markets over the next few years.


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