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 14th in oil reserves. 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 and 2001 benefited from the temporary spike in oil prices and the government's tight fiscal policy, leading to a large increase in the trade surplus, record highs in foreign exchange reserves, and reduction in foreign debt. The government's continued efforts to diversify the economy by attracting foreign and domestic investment outside the energy sector has had little success in reducing high unemployment and improving living standards. In 2001, the government signed an Association Treaty with the European Union that will eventually lower tariffs and increase trade.
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
6% (2001 est.)
Labor Force
9.4 million (2001 est.)
Electricity production
23.556 billion kWh (2000)
Electricity production by source
Fossil fuel: 100%
Hydro: 0%
Other: 0% (2000)
Nuclear: 0%
Electricity Consumption
21.847 billion kWh (2000)
Electricity Exports
210 million kWh (2000)
Electricity Imports
150 million kWh (2000)
Currency
Algerian dinar (DZD)
Unemployment Rate
34% (2001 est.)
Population Below Poverty Line
23% (1999 est.)
Household Income or Consumption by Percentage Share
Lowest 10%: 4%
Highest 10%: 25% (1995) (1995)
Distribution of Family Income Gini Index
35 (1995)
Budget
Revenues: $20.3 billion
Expenditures: $18.8 billion, including capital expenditures of $5.8 billion (2001 est.)
Commercial Bank Prime Lending Rate
Market Value of Publicly Traded Shares
Reserves of Foreign Exchange and Gold
Debt External
$24.7 billion (2001 est.)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
Algerian dinars per US dollar - 77.889 (January 2002), 77.215 (2001), 75.260 (2000), 66.574 (1999), 58.739 (1998), 57.707 (1997)
