Economy Overview
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 fifth-largest reserves of natural gas in the world and is the second largest gas exporter; it ranks fourteenth for oil reserves. Algiers' efforts to reform one of the most centrally planned economies in the Arab world stalled in 1992 as the country became embroiled in political turmoil. Algeria's financial and economic indicators improved during the mid-1990s, in part because of policy reforms supported by the IMF and debt rescheduling from the Paris Club. Algeria's finances in 2000 benefited from the spike in oil prices and the government's tight fiscal policy, leading to a large increase in the trade surplus, the near tripling of foreign exchange reserves, and reduction in foreign debt. The government continues efforts to diversify the economy by attracting foreign and domestic investment outside the energy sector, but has had little success in reducing high unemployment and improving living standards.
Agriculture Products
wheat, barley, oats, grapes, olives, citrus, fruits; sheep, cattle
Industries
petroleum, natural gas, light industries, mining, electrical, petrochemical, food processing
Industrial Production Growth Rate
7% (1999 est.)
Labor Force
9.1 million (2000 est.)
Electricity production
23.215 billion kWh (1999)
Electricity production by source
Fossil fuel: 99.14%
Hydro: 0.86%
Nuclear: 0%
Other: 0% (1999)
Electricity Consumption
21.613 billion kWh (1999)
Electricity Exports
307 million kWh (1999)
Electricity Imports
330 million kWh (1999)
Currency
Algerian dinar (DZD)
Unemployment Rate
30% (1999 est.)
Population Below Poverty Line
23% (1999 est.)
Household Income or Consumption by Percentage Share
Lowest 10%: 2.8%
Highest 10%: 26.8% (1995)
Budget
Revenues: $15.8 billion
Expenditures: $16 billion, including capital expenditures of $5.3 billion (2001 est.)
Commercial Bank Prime Lending Rate
Market Value of Publicly Traded Shares
Reserves of Foreign Exchange and Gold
Debt External
$25 billion (2000 est.)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
Algerian dinars per US dollar - 74,813 (January 2001), 75.260 (2000), 66.574 (1999), 58.739 (1998), 57.707 (1997), 54.749 (1996)
