Short facts about the economy in Algeria

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 fourteenth for oil reserves. Algiers' efforts to reform one of the most centrally planned economies in the Arab world stalled in 1992 as the country became embroiled in political turmoil. 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 benefited from the spike in oil prices and the government's tight fiscal policy, leading to a large increase in the trade surplus, the near tripling of foreign exchange reserves, and reduction in foreign debt. The government continues efforts to diversify the economy by attracting foreign and domestic investment outside the energy sector, but has had little success in reducing high unemployment and improving living standards.

GDP:	purchasing power parity - $171 billion (2000 est.)

GDP - real growth rate:

5% (2000 est.)

GDP - per capita:

purchasing power parity - $5,500 (2000 est.)

GDP - composition by sector:

agriculture:  11% industry:  37% services:  52% (1999 est.)

Population below poverty line:

23% (1999 est.)

Household income or consumption by percentage share:

lowest 10%:  2.8% highest 10%:  26.8% (1995)

Inflation rate (consumer prices):

2% (2000 est.)

Labor force:

9.1 million (2000 est.)

Labor force - by occupation:

government 29%, agriculture 25%, construction and public works 15%, industry 11%, other 20% (1996 est.)

Unemployment rate:

30% (1999 est.)

Budget:

revenues:  $15.8 billion expenditures:  $16 billion, including capital expenditures of $5.3 billion (2001 est.)

Industries:

petroleum, natural gas, light industries, mining, electrical, petrochemical, food processing

Industrial production growth rate:

7% (1999 est.)

Electricity - production:

23.215 billion kWh (1999)

Electricity - production by source:

fossil fuel:  99.14% hydro:  0.86% nuclear:  0% other:  0% (1999)

Electricity - consumption:

21.613 billion kWh (1999)

Electricity - exports:

307 million kWh (1999)

Electricity - imports:

330 million kWh (1999)

Agriculture - products:

wheat, barley, oats, grapes, olives, citrus, fruits; sheep, cattle

Exports:

$19.6 billion (f.o.b., 2000 est.)

Exports - commodities:

petroleum, natural gas, and petroleum products 97%

Exports - partners:

Italy 22%, US 15%, France 12%, Spain 11%, Brazil 8%, Netherlands 5% (1999)

Imports:

$9.2 billion (f.o.b., 2000 est.)

Imports - commodities:

capital goods, food and beverages, consumer goods

Imports - partners:

France 30%, Italy 9%, Germany 7%, Spain 6%, US 5%, Turkey 5% (1999)

Debt - external:

$25 billion (2000 est.)

Economic aid - recipient:

$100 million (1999 est.)

Currency:

Algerian dinar (DZD)

Currency code:

DZD

Exchange rates:

Algerian dinars per US dollar - 74,813 (January 2001), 75.260 (2000), 66.574 (1999), 58.739 (1998), 57.707 (1997), 54.749 (1996)

Fiscal year:

calendar year

Source: World Factbook