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. Sustained high oil prices in recent years, along with macroeconomic policy reforms supported by the IMF, have helped improve Algeria's financial and macroeconomic indicators. Algeria is running substantial trade surpluses and building up 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% (2004 est.)
Labor Force
9.91 million (2004 est.)
Electricity production
25.76 billion kWh (2002)
Electricity Consumption
23.61 billion kWh (2002)
Electricity Exports
500 million kWh (2002)
Electricity Imports
150 million kWh (2002)
Unemployment Rate
25.4% (2004 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: $31.47 billion
Expenditures: $29.3 billion, including capital expenditures of $5.8 billion (2004 est.)
Public Debt
37.4% of GDP (2004 est.)
Commercial Bank Prime Lending Rate
Market Value of Publicly Traded Shares
Reserves of Foreign Exchange and Gold
$43.55 billion (2004 est.)
Debt External
$21.9 billion (2004 est.)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
Algerian dinars per US dollar - 72.061 (2004), 77.395 (2003), 79.682 (2002), 77.215 (2001), 75.26 (2000)
