About Algeria and Key Financial Statistics









About Algeria and Key Financial Statistics



Overview of Economy:

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. Strong revenues from hydrocarbon exports have brought Algeria relative macroeconomic stability, with foreign currency reserves approaching $200 billion 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. 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.




Gross Domestic Product (In USD):

$548.6 billion (2014 est.)
$528.5 billion (2013 est.)
$514.1 billion (2012 est.)


Composition of Gross Domestic Product:


% Agricuture: 10

% Industry: 47.1

% Services: 42.9


Composition of Labor Force by Occupation:

% Agriculture: 14

% Industry: 13.4

% Services: 10


Per Capita Income:

$13,900 (2014 est.)
$13,400 (2013 est.)
$13,000 (2012 est.)



Exports:

$60 billion (2014 est.)
$64.71 billion (2013 est.)



Key Export Commodities:

petroleum, natural gas, and petroleum products 97% (2009 est.)


Export Partners:

Egypt 17%, Iran 13.3%, US 10.8%, NZ 7.8%, Republic of the Congo 7.5%, UAE 7.1%, Benin 4.9%, Thailand 4.1% (2014)



Imports:

$59.67 billion (2014 est.)
$54.99 billion (2013 est.)



Key Import Commodities:

capital goods, foodstuffs, consumer goods



Import Partners:

China 14.1%, France 10.8%, Italy 8.6%, Spain 8.6%, Germany 6.5%, US 4.9% (2014)



Inflation Rate (Consumer Price Index):

2.9% (2014 est.)
3.3% (2013 est.)




Exchange Rate to USD:

Algerian dinars (DZD) per US dollar -
80.58 (2014 est.)
80.58 (2013 est.)
77.54 (2012 est.)
72.94 (2011 est.)
74.39 (2010 est.)




Unemployment Rate:

10.6% (2014 est.)
9.8% (2013 est.)



S&P Rating:



Standard & Poor's Ratings:

  • AAA: The best quality borrowers, reliable and stable
  • AA: Quality borrowers, a bit higher risk than AAA
  • A: Economic situation can affect finance
  • BBB: Medium class borrowers, which are satisfactory at the moment
  • BB: More prone to changes in the economy
  • B: Financial situation varies noticeably
  • CCC: An obligor rated currently vulnerable, and is dependent upon favorable business, financial, and economic conditions to meet its financial commitments.






Ref 2012-2014: CIA World Factbook, Wikipedia, PWC, EY, Standard & Poors ratings