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FINANCIAL NEWS
Algeria’s trade deficit enlarges by 27.2 percent
21 Jul 2016
(MENAFN) Algeria’s trade deficit enlarged to USD10.83bn in the first half of this year, 27.2 percent more than in 2015 due to a drop in energy earnings.
However, oil and gas exports, which accounted for 93.5 percent of its
sales abroad, dropped 33.6 percent to USD11.86bn in the cited half.
Moreover, the whole value of exports during the period declined 33.02 percent to USD12.68bn, while imports fell 14.35 percent to USD23.51bn.
In addition, the country aims to reduce its imports bill in a bid to counter the loss in energy revenues since world oil prices started falling in June 2014.
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