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World > Africa > Algeria > Economy (Facts)

Algeria - Economy (Facts)
Economy - overview: The hydrocarbons sector is the backbone of the economy, accounting for roughly 60% of budget revenues, 30% of GDP, and over 95% of export earnings. Algeria has the eighth-largest reserves of natural gas in the world and is the fourth-largest gas exporter; it ranks 18th in oil reserves. Sustained high oil prices in recent years, along with macroeconomic policy reforms supported by the IMF, have helped improve Algeria's financial and macroeconomic indicators. Algeria is running substantial trade surpluses and building up record foreign exchange reserves. Algeria has decreased its external debt to less than 10% of GDP after repaying its Paris Club and London Club debt in 2006. Real GDP has risen due to higher oil output and increased government spending. The government's continued efforts to diversify the economy by attracting foreign and domestic investment outside the energy sector, however, has had little success in reducing high unemployment and improving living standards. Structural reform within the economy, such as development of the banking sector and the construction of infrastructure, moves ahead slowly hampered by corruption and bureaucratic resistance.
GDP - real growth rate: 3% (2006 est.)
GDP (purchasing power parity): $250 billion (2006 est.)
GDP (official exchange rate): $90 billion (2006 est.)
GDP - per capita (PPP): $7,600 (2006 est.)
GDP - composition by sector: agriculture: 9.4%
industry: 58.1%
services: 32.5% (2006 est.)
Population below poverty line: 25% (2005 est.)
Household income or consumption by percentage share: lowest 10%: 2.8%
highest 10%: 26.8% (1995)
Inflation rate (consumer prices): 3% (2006 est.)
Labor force: 9.31 million (2006 est.)
Labor force - by occupation: agriculture 14%, industry 13.4%, construction and public works 10%, trade 14.6%, government 32%, other 16% (2003 est.)
Unemployment rate: 15.7% (2006 est.)
Budget: revenues: $59.26 billion
expenditures: $49.14 billion; including capital expenditures of $5.8 billion (2006 est.)
Industries: petroleum, natural gas, light industries, mining, electrical, petrochemical, food processing
Industrial production growth rate: 10% (2006 est.)
Electricity - production: 29.39 billion kWh (2004 est.)
Electricity - consumption: 27.4 billion kWh (2004 est.)
Electricity - exports: 230 million kWh (2004 est.)
Electricity - imports: 300 million kWh (2004 est.)
Oil - production: 1.373 million bbl/day (2005 est.)
Oil - consumption: 233,000 bbl/day (2004 est.)
Oil - exports: 1.724 million bbl/day (2004 est.)
Oil - imports: 12,390 bbl/day (2004 est.)
Oil - proved reserves: 11.8 billion bbl (1 January 2005 est.)
Natural gas - production: 80.15 billion cu m (2004 est.)
Natural gas - exports: 60.87 billion cu m (2004 est.)
Natural gas - imports: 0 cu m (2004 est.)
Agriculture - products: wheat, barley, oats, grapes, olives, citrus, fruits; sheep, cattle
Exports: $55.6 billion f.o.b. (2006 est.)
Exports - commodities: petroleum, natural gas, and petroleum products 97%
Exports - partners: US 26.7%, Italy 16.6%, Spain 9.1%, France 8.6%, Canada 7.9%, Brazil 6.5%, Belgium 4.4% (2006)
Imports: $27.6 billion f.o.b. (2006 est.)
Imports - commodities: capital goods, foodstuffs, consumer goods
Imports - partners: France 22.1%, Italy 8.6%, China 8.5%, Germany 5.9%, Spain 5.6%, US 4.8%, Turkey 4.5% (2006)
Debt - external: $5 billion (2006 est.)
Economic aid - recipient: $313 million (2004 est.)
Currency: Algerian Dinar (DZD)
Currency code: DZD
Exchange rates: Algerian dinars per US dollar - 72.647 (2006), 73.276 (2005), 72.061 (2004), 77.395 (2003), 79.682 (2002)
Fiscal year: calendar year


Facts at a Glance: Geography - People - Government - Economy - Communications - Transportation - Military - Climate - Current Time - Ranking Positions
Notes and Commentary: People - Economy - Government and Political Conditions - Historical Highlights - Foreign Relations - Relations with U.S.



Facts at a Glance
Geography
People
Government
Economy
Communications
Transportation
Military
Climate
Current Time
Ranking Positions


Notes and Commentary
People
Economy
Government and Political Conditions
Historical Highlights
Foreign Relations
Relations with U.S.





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