Algeria:
Economy

Pages for other countries and territories

Other pages in this profile of Algeria:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.


Economy - overview	Definition 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 14th in oil reserves. Sustained high oil prices in recent years 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 (purchasing power parity)	Definition - World rank and map $224.7 billion (2007 est.)
GDP (official exchange rate)	Definition $131.6 billion (2007 est.)
GDP - real growth rate	Definition - World rank and map 4.6% (2007 est.)
GDP - per capita	Definition - World rank and map $6,500 (2007 est.)
GDP - composition by sector	Definition agriculture: 8.2% industry: 61.4% services: 30.4% (2007 est.)
Labor force	Definition 9.38 million (2007 est.)
Labor force - by occupation	Definition agriculture 14%, industry 13.4%, construction and public works 10%, trade 14.6%, government 32%, other 16% (2003 est.)
Unemployment rate	Definition - World rank and map 13% (2007 est.)
Population below poverty line	Definition 25% (2005 est.)
Household income or consumption by percentage share	Definition lowest 10%: 2.8% highest 10%: 26.8% (1995)
Distribution of family income - Gini index	Definition - World rank and map 35.3 (1995)
Inflation rate (consumer prices)	Definition - World rank and map 3.7% (2007 est.)
Investment (gross fixed)	Definition - World rank and map 24.6% of GDP (2007 est.)
Budget	Definition revenues: $56.36 billion expenditures: $40.8 billion (2007 est.)
Public debt	Definition - World rank and map 19% of GDP (2007 est.)
Agriculture - products	Definition wheat, barley, oats, grapes, olives, citrus, fruits; sheep, cattle
Industries	Definition petroleum, natural gas, light industries, mining, electrical, petrochemical, food processing
Industrial production growth rate	Definition - World rank and map 5% (2007 est.)
Electricity - production	Definition - World rank and map 31.91 billion kWh (2005 est.)
Electricity - consumption	Definition - World rank and map 27.52 billion kWh (2005 est.)
Electricity - consumption per capita	Definition - World rank and map 815 kWh (2005 est.)
Electricity - exports	Definition 275 million kWh (2005 est.)
Electricity - imports	Definition 359 million kWh (2005 est.)
Oil - production	Definition - World rank and map 2.09 million bbl/day (2005 est.)
Oil - consumption	Definition - World rank and map 250,000 bbl/day (2005 est.)
Oil - consumption per 1,000 people	Definition - World rank and map 7.4 bbl/day (2005 est.)
Oil - exports	Definition - World rank and map 1.724 million bbl/day (2004 est.)
Oil - imports	Definition - World rank and map 12,390 bbl/day (2004 est.)
Oil - proved reserves	Definition - World rank and map 14.68 billion bbl (2007 est.)
Natural gas - production	Definition - World rank and map 84.4 billion cu m (2005 est.)
Natural gas - consumption	Definition - World rank and map 21.8 billion cu m (2005 est.)
Natural gas - consumption per capita	Definition - World rank and map 646 cu m (2005 est.)
Natural gas - exports	Definition - World rank and map 62.6 billion cu m (2005 est.)
Natural gas - imports	Definition - World rank and map 0 cu m (2005)
Natural gas - proved reserves	Definition - World rank and map 4.359 trillion cu m (1 January 2006 est.)
Current account balance	Definition - World rank and map $30.58 billion (2007 est.)
Exports	Definition - World rank and map $59.52 billion f.o.b. (2007 est.)
Exports - commodities	Definition petroleum, natural gas, and petroleum products 97%
Exports - partners	Definition US 29.4%, Italy 13.8%, Spain 9.6%, Canada 8.2%, France 7.4%, Netherlands 5%, Brazil 4.2% (2006)
Imports	Definition - World rank and map $27.52 billion f.o.b. (2007 est.)
Imports - commodities	Definition capital goods, foodstuffs, consumer goods
Imports - partners	Definition France 19.1%, China 8.9%, Italy 8.7%, Spain 6.1%, US 5.6%, Germany 5.5%, Turkey 4.2% (2006)
Reserves of foreign exchange and gold	Definition - World rank and map $110.6 billion (31 December 2007 est.)
Debt - external	Definition - World rank and map $4.392 billion (31 December 2007 est.)
Stock of direct foreign investment - at home	Definition $10.63 billion (2007 est.)
Stock of direct foreign investment - abroad	Definition $851 million (2007 est.)
Market value of publicly traded shares	Definition $NA
Economic aid - recipient	Definition $370.6 million (2005 est.)
Currency (code)	Definition Algerian dinar (DZD)
Exchange rates	Definition Algerian dinars per US dollar - 69.9 (2007), 72.647 (2006), 73.276 (2005), 72.061 (2004), 77.395 (2003)
Fiscal year	Definition calendar year

Algeria: Economy

Algeria:
Economy