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Algeria Trade Deficit at $12b in 7 Months

Algeria Trade Deficit at $12b in 7 MonthsAlgeria Trade Deficit at $12b in 7 Months

Algeria’s trade deficit reached $11.93 billion during the first seven months of 2016, against a $9.43 billion deficit in the same period of 2015, up by 26.5%, the Algerian Customs told APS.

Exports sharply declined to $15.14 billion during the first seven months of 2016 against $22.1 billion over the same period of 2015 (-31.48%), down by nearly $7 billion according to figures provided by the  Algerian Customs’ National Center of Data Processing and Statistics.             

Imports also decreased, but at a slower pace compared to exports, totaling $27.07 billion against $31.53 billion (-14.14%), a drop of $4.46 billion, said the source.

The coverage rate of imports by exports reached 56% against 70% between the two periods of reference.

Hydrocarbons continue to represent the bulk of Algeria’s sales abroad with 93.73% of the overall exports value with an amount of $17.19 billion during the seven first months against $20.9 billion in the same period of the previous year (-32.09%), a $6.71% drop.

Non-hydrocarbon exports, which represent 6.27% of the overall amount of exports decreased to $949 billion, a 20.72% drop compared to the first seven months of 2015.

The non-hydrocarbon exports are made up of semi-finished products with $710 million (against $955 million), foodstuff with $159 million (against $166 million), raw materials with $45 million (against $59 million), industrial capital goods with $25 (against $10 million) and non-food consumer goods with $10 million (against $7 million).

 

Financialtribune.com