Petroleum gases, petroleum crude oil, petroleum refined oil, ICT, transport, insurance and finance, ammonia, nitrogenous fertilizers, sugarcane, avocados, pineapple, mango and machinery are major industries of Algeria. In 2017, Agriculture industry contributed 13.30% to GDP of Algeria. Manufacturing had a share of 39.30% while services industry had a share of 47.40% of GDP in 2017.
In 2017, Services industry exports was valued at USD 3 billion for Algeria. Chemicals export accounted for USD 900 million, minerals for USD 35.9 billion and agriculture for USD 445 million in 2017.
Algeria is a medium-sized economy in Northern Africa with about 40 million inhabitants. Owing to large oil and particularly gas deposits located in the Algerian Sahara, the local economy is dominated by the hydrocarbon sector in which the government holds a significant stake through the state-owned oil company Sonatrach.
Algeria will have estimated population of 43.427 million in the year 2019 and expected to reach 47.336 million by 2024. Algeria’s unemployment rate is expected to be 12.575% of total labor force.
Algeria’s real gross domestic product (GDP) is expected to be around DZD 7698 billion in 2019 whereas the nominal GDP is expected to be around DZD 21740.82 billion. This will result in GDP deflator 282.422. Per capita GDP is estimated to be at USD 4229.78 whereas purchasing power parity (PPP) based per capita GDP is estimated to be at USD 15765.50.
In 2019, Algeria government’s revenue is expected to be DZD 6493.74 billion whereas the expenditure is expected to be at DZD 7917.69 billion. This will result in Algeria governments net lending / borrowing negative at DZD 1423.95 billion in 2019 indicating that enough financial resources were not made available by the government to boost economic growth.
The current account balance for Algeria is estimated to be negative at USD 23.042 billion in the year 2019 and is expected to decrease at a CAGR of 19.03% and reach USD 5.04 by 2024. This negative current account balance indicates the Algeria is a net borrower from the whole world.
Algeria is ranked 157 among 190 economies in the ease of doing business, the rank of Algeria remained unchanged at 157 in 2019 from 157 in 2018. Ease of Doing Business in Algeria averaged 151.58 from 2008 until 2019, reaching an all-time high of 166 in 2017 and a record low of 134 in 2008.
*If Applicable.