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 seventh-largest reserves of natural gas in the world and is the second-largest gas exporter; it ranks 14th in oil reserves. Economic policy reforms supported by the IMF and debt rescheduling from the Paris Club in the past decade have helped improve Algeria's financial and macroeconomic indicators. Because of sustained high oil prices in the past three years, Algeria's finances have further benefited from substantial trade surpluses and record foreign exchange reserves. 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. Structural reform within the economy moves ahead slowly.
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% (2003 est.)
Labor Force
9.6 million (2003)
Electricity production
24.69 billion kWh (2001)
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
26.2% (2003 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: $25.49 billion
Expenditures: $22.87 billion, including capital expenditures of $5.8 billion (2003 est.)
Public Debt
41.5% of GDP (2003 est.)
Commercial Bank Prime Lending Rate
Market Value of Publicly Traded Shares
Reserves of Foreign Exchange and Gold
Debt External
$22.71 billion (2003 est.)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
Algerian dinars per US dollar - 77.395 (2003), 79.6819 (2002), 77.215 (2001), 75.2598 (2000), 66.5739 (1999)
