ALGERIA ECONOMY 2010 - CIA FACTBOOK
Algeria
Economy - overview: The state dominates most areas of the
Algerian economy, although gradual liberalization since
the mid-1990s 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. Algerias
external debt is only about 1% of GDP. The governments
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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