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 2000-03 benefited from substantial trade surpluses, record foreign exchange reserves, and reductions in foreign debt. Real GDP has risen due to higher oil output and increased government spending. The government's continued efforts to diversify the economy by attracting foreign and domestic investment outside the energy sector, however, 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
6% (2001 est.)
Labor Force
9.4 million (2001 est.)
Electricity production
24.69 billion kWh (2001)
Electricity production by source
Fossil fuel: 99.7%
Hydro: 0.3%
Other: 0% (2001)
Nuclear: 0%
Electricity Consumption
22.9 billion kWh (2001)
Electricity Exports
340 million kWh (2001)
Electricity Imports
275 million kWh (2001)
Currency
Algerian dinar (DZD)
Unemployment Rate
31% (2002 est.)
Population Below Poverty Line
23% (1999 est.)
Household Income or Consumption by Percentage Share
Lowest 10%: 2.8%
Highest 10%: 26.8% (1995)
Distribution of Family Income Gini Index
35.3 (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
$21.6 billion (2002 est.)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
Algerian dinars per US dollar - 79.68 (2002), 77.22 (2001), 75.26 (2000), 66.57 (1999), 58.74 (1998)
