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Algeria Economy 2010 - Factbook

ALGERIA ECONOMY 2010 - CIA FACTBOOK

Algeria Economy - overview: The state dominates most areas of the Algerian economy, although gradual liberalization since the mid-1990’s has opened up more of the economy to private domestic and foreign participation. Hydrocarbons are 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 15th in oil reserves. Weak global hydrocarbon prices during 2009 contributed to a 40% drop in government revenue, although the government continues to enjoy a financial cushion provided by almost $150 billion in foreign currency reserves and a large hydrocarbons stabilization fund. Algeria’s external debt is only about 1% of GDP. The government’s 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. A Complementary Finance Law, enacted in July, imposed tight restrictions on imports and required that foreign investors and importers divest at least 51% share of ownership to Algerian partners. The law has contributed to some domestic goods shortages and prompted foreign investors and businesses to reconsider activities in Algeria. Development of the banking sector, the construction of infrastructure, and other structural reforms are hampered by corruption and bureaucratic resistance.

GDP (purchasing power parity): $244.3 billion (2009 est.)

$236.3 billion (2008 est.) $228.3 billion (2007 est.) note: data are in 2009 US dollars GDP (official exchange rate): $134.8 billion (2009 est.)

GDP - real growth rate: 3.4% (2009 est.)

3.5% (2008 est.) 3.1% (2007 est.) GDP - per capita: $7,100 (2009 est.)

$7,000 (2008 est.) $6,800 (2007 est.) note: data are in 2009 US dollars GDP - composition by sector: agriculture: 8.3% industry: 62.5% services: 29.4% (2009 est.)

Labor force: 9.612 million (2009 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: 12.4% (2009 est.)

12.8% (2008 est.) Population below poverty line: 23% (2006 est.)

Household income or consumption by percentage share: lowest 10%: 2.8% highest 10%: 26.8% (1995)

Distribution of family income - Gini index: 35.3 (1995)

Investment (gross fixed): 26.8% of GDP (2009 est.)

Budget: revenues: $56.24 billion expenditures: $61.34 billion (2009 est.)

Public debt: 10.7% of GDP (2009 est.)

8.4% of GDP (2008 est.) Inflation rate (consumer prices): 4.1% (2009 est.)

4.4% (2008 est.) Central bank discount rate: 4% (31 December 2008)

4% (31 December 2007) Commercial bank prime lending rate: 8% (31 December 2008)

8% (31 December 2007) Stock of money: $60.91 billion (31 December 2008)

$55.43 billion (31 December 2007) Stock of quasi money: $30.36 billion (31 December 2008)

$28.59 billion (31 December 2007) Stock of domestic credit: $NA (31 December 2008)

$NA (31 December 2007) Market value of publicly traded shares: $NA

Agriculture - products: wheat, barley, oats, grapes, olives, citrus, fruits; sheep, cattle

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

Industrial production growth rate: 2.6% (2009 est.)

Electricity - production: 34.98 billion kWh (2007 est.)

Electricity - consumption: 28.34 billion kWh (2007 est.)

Electricity - exports: 273 million kWh (2007 est.)

Electricity - imports: 279 million kWh (2007 est.)

Oil - production: 2.18 million bbl/day (2008 est.)

Oil - consumption: 299,000 bbl/day (2008 est.)

Oil - exports: 1.891 million bbl/day (2007 est.)

Oil - imports: 14,320 bbl/day (2007 est.)

Oil - proved reserves: 12.2 billion bbl (1 January 2009 est.)

Natural gas - production: 86.5 billion cu m (2008 est.)

Natural gas - consumption: 26.83 billion cu m (2008 est.)

Natural gas - exports: 59.67 billion cu m (2008 est.)

Natural gas - imports: 0 cu m (2008 est.)

Natural gas - proved reserves: 4.502 trillion cu m (1 January 2009 est.)

Current account balance: $5.523 billion (2009 est.)

$35.27 billion (2008 est.) Exports: $52.03 billion (2009 est.)

$78.23 billion (2008 est.) Exports - commodities: petroleum, natural gas, and petroleum products 97%

Exports - partners: US 23.9%, Italy 15.5%, Spain 11.4%, France 8%, Netherlands 7.8%, Canada 6.8% (2008)

Imports: $39.51 billion (2009 est.)

$39.16 billion (2008 est.) Imports - commodities: capital goods, foodstuffs, consumer goods

Imports - partners: France 16.5%, Italy 11%, China 10.3%, Spain 7.4%, Germany 6.1%, US 5.5% (2008)

Reserves of foreign exchange and gold: $149.2 billion (31 December 2009 est.)

$143.5 billion (31 December 2008 est.) Debt - external: $3.389 billion (31 December 2009 est.)

$3.753 billion (31 December 2008 est.) Stock of direct foreign investment - at home: $15.46 billion (31 December 2009 est.)

$13.76 billion (31 December 2008 est.) Stock of direct foreign investment - abroad: $1.362 billion (31 December 2009 est.)

$1.162 billion (31 December 2008 est.) Exchange rates: Algerian dinars (DZD) per US dollar - 72.5695 (2009), 63.25 (2008), 69.9 (2007), 72.647 (2006), 73.276 (2005)

[SOURCES : http://www.theodora.com/wfbcurrent/... - Up-date : 15/01/2010]

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Algeria Region : Middle East & North Africa Income category : Upper middle income Population : 34,361,756 GNI per capita (US$) : 4,260 Number of firms surveyed : 600

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