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Algeria Press Service

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29/03/2017 16:19

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You are here:HOME»ECONOMY»Algeria's trade deficit down by nearly 55% in Jan-Feb 2017
Monday, 20 March 2017 13:38

Algeria's trade deficit down by nearly 55% in Jan-Feb 2017

ALGIERS- Algeria's trade deficit hit US$1.69 billion over the first two months of 2017, against US$3.72 billion during the same period in 2016, down by nearly 55%, said the Algerian Customs' National Centre of Data Processing and Statistics (CNIS) told APS Monday.

Exports went up to US$6.05 billion between January and late February 2017, against US$3.99 billion during the same period a year earlier, up by 51.67% (+US$2.06 billion), while imports stood at US$7.75 billion against US$7.71 billion during the same period of reference, slightly up by 0.51%, according to the figures provided by the CNIS.

Following the increase in oil prices, which often exceeded US$54 in January-February 2017, hydrocarbon exports (representing 92.4% of the overall export value) totalled US$5.6 billion against US$3.76 billion during the same period of reference, up by 48.87% (+US$1.84 billion).

The non-hydrocarbon exports, which remain low with only 7.6% of the overall export value, hit US$460 million, against US$234 million, up by 96.6%, said the CNIS.

The non-hydrocarbon exports were made up mainly of semi-finished products, which totalled US$395 million in January-February 2017, against US$174 million during the same period a year earlier, foodstuffs (US$42 million, against US$43 million), raw materials (US$13 million, against US$8 million), industrial capital goods (US$8 million, against US$6 million) and non-food consumer goods (US$2 million, against US$3 million), said the CNIS.

In Imports, a slight increase was showed in food product bill, which totalled US$1.51 billion, against US$1.24 billion during the same period of reference, industrial capital goods (US$3 billion, against US$2.67 billion), agricultural capital goods (US$106 million, against US$79 million) and raw materials (US$299 million, against US$280 million), while energy and lubricants went down to US$151 million, against US$225 million), as well as semi-finished products (US$1.61 billion, against US$1.92 billion) and non-food consumer goods (US$1.06 billion, US$1.29 billion).

In January-February 2017, Algeria's large trading customers were Italy with US$1.07 billion (17.73% of Algeria's overall exports value), followed by Spain (US$917 million, 15.14%), France (US$765 million, 12.63%), the United States (US$462 million, 7.63%), Turkey (US$433 million, 7.15%).

Algeria's main suppliers were China with US$1.56 billion (20.21% of Algeria's overall import value), followed by France (US$633 million, 8.17%), Italy (US$533 million, 6.9%), Germany (US$519 million, 6.7%) and Spain (US$454 million, 5.8%).

Read 59 times Last modified on Monday, 20 March 2017 16:21