Macroeconomic Forecast Algeria

June 2007 | Macroeconomic Forecasts

Algeria's current account surplus should remain robust this year, at 16.5% of GDP, albeit only half last year's figure due to easing oil prices. First quarter data for Algeria's trade surplus shows a reduction by US$1.98bn to US$6.32bn, as compared with Q106. Algeria's exports are largely made up of oil and gas - they accounted for 98.63% of total exports during the quarter. As such, the reduced oil price compared with the same period last year has significantly impacted the total export value for Algeria; it has fallen 9.96% to US$12.2bn y-o-y. In addition to the reduced value of exports, imports have risen by 11.9%, contributing to the lowering of the overall trade surplus.

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