Algeria’s trade deficit shrinks by 34%

21 de novembro de 2017

The country saw a USD 9.5 billion deficit from January to October, with export revenue going up 17% and imports going down 1.8%.

Algiers – Algeria’s trade deficit shrank by 34% year-on-year in the first ten months of 2017 to USD 9.5 billion, Algérie Presse Service (APS) reported.

The country saw export revenue climb 17.1% to USD 28.67 billion during that period, as per data from the Algerian Customs' National Centre of Data Processing and Statistics (CNIS, in the French acronym). Imports dropped 1.8% to UDS 38.18 billion. Algeria is striving to cut down on its imports, since the drop in oil prices took away from its primary source of revenue.

Hydrocarbons (oil, gas and their products) still account for much of the country’s exports, having grossed a combined USD 27.18 billion through October, i.e. 94.8% of the total amount. The value of hydrocarbon exports was up 18% year-on-year on the back of a minor pickup in oil prices, APS said.

Non-hydrocarbon exports came out to USD 1.49 billion, up 3.4% from January to October 2016.

Brazil was the fifth biggest buyer of goods from Algeria, revenue-wise, at USD 1.72 billion, up 29.6% and trailing Italy, France, Spain and the United States.

Brazil’s imports of semi-finished goods, fuels and lubricants and agricultural capital goods went up, with imports going down for industrial capital goods, consumer goods and staples.

Brazil placed 10th on the list of source countries for Algeria’s imports at USD 1.18 billion worth of goods, up 16.4% from the year-ago period. Brazil usually runs a deficit in trade with Algeria.

*Translated by Gabriel Pomerancblum