| Economy | Algeria |
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Economy - overview:
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Algeria's economy remains dominated by the state, a legacy of the country's socialist post-independence development model. In recent years the Algerian Government has halted the privatiazation of state-owned industries and imposed restrictions on imports and foreign involvement in its economy. Hydrocarbons have long been the backbone of the economy, accounting for roughly 60% of budget revenues, 30% of GDP, and over 95% of export earnings. Algeria has the tenth-largest reserves of natural gas in the world and is the sixth-largest gas exporter. It ranks 16th in oil reserves. Thanks to strong hydrocarbon revenues, Algeria has a cushion of $173 billion in foreign currency reserves and a large hydrocarbon stabilization fund. In addition, Algeria's external debt is extremely low at about 2% of GDP. Algeria has struggled to develop industries outside of hydrocarbons in part because of high costs and an inert state bureaucracy. The government's efforts to diversify the economy by attracting foreign and domestic investment outside the energy sector have done little to reduce high youth unemployment rates or to address housing shortages. A wave of economic protests in February and March 2011 prompted the Algerian Government to offer more than $23 billion in public grants and retroactive salary and benefit increases. Public spending has increased by 27% annually during the past five years. Long-term economic challenges include diversification from hydrocarbons, relaxing state control of the economy, and providing adequate jobs for younger Algerians. |
GDP (purchasing power parity):
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$264.1 billion (2011 est.)
$256.7 billion (2010 est.)
$248.7 billion (2009 est.)
note: data are in 2011 US dollars |
GDP - per capita (PPP):
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$7,200 (2011 est.)
$7,100 (2010 est.)
$7,000 (2009 est.)
note: data are in 2011 US dollars |
GDP (official exchange rate):
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$183.4 billion (2011 est.) |
GDP - real growth rate:
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2.9% (2011 est.)
3.3% (2010 est.)
2.4% (2009 est.) |
GDP - composition by sector:
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agriculture: 8.1%
industry: 61.6%
services: 30.2% (2011 est.) |
Investment (gross fixed):
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33.6% of GDP (2011 est.) |
Population below poverty line:
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23% (2006 est.) |
Household income or consumption by percentage share:
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lowest 10%: 2.8%
highest 10%: 26.8% (1995) |
Distribution of family income - Gini index:
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35.3 (1995) |
Inflation rate (consumer prices):
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4% (2011 est.)
3.9% (2010 est.) |
Central bank discount rate:
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4% (31 December 2010 est.)
4% (31 December 2009 est.) |
Commercial bank prime lending rate:
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8% (31 December 2011 est.)
8% (31 December 2010 est.) |
Stock of money:
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$60.91 billion (31 December 2008)
$55.43 billion (31 December 2007) |
Stock of money - per capita:
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1,741 USD per capita |
Stock of quasi money:
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$30.36 billion (31 December 2008)
$28.59 billion (31 December 2007) |
Stock of quasi money - per capita:
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868 USD per capita |
Stock of domestic credit:
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$11.8 billion (31 December 2011 est.)
$12.18 billion (31 December 2010 est.) |
Stock of domestic credit - per capita:
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338 USD per capita |
Stock of narrow money:
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$92.92 billion (31 December 2011 est.)
$75.24 billion (31 December 2010 est.) |
Stock of broad money:
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$129.7 billion (31 December 2011 est.)
$108.9 billion (31 December 2010 est.) |
Labor force:
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11.13 million (2011 est.) |
Labor force participation rate:
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31.80 % of population |
Labor force - by occupation:
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agriculture: 14%
industry: 13.4%
construction and public works: 10%
trade: 14.6%
government: 32%
other: 16% (2003 est.) |
Unemployment rate:
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9.7% (2011 est.)
10% (2010 est.) |
Unemployment, youth ages 15-24:
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total: 24.3%
male: 42.9%
female: 46.3% (2006) |
Budget:
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revenues: $87.74 billion
expenditures: $91.6 billion (2011 est.) |
Budget revenues per capita:
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2,508 USD per capita |
Taxes and other revenues:
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47.8% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
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-2.1% of GDP (2011 est.) |
Public debt:
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6.6% of GDP (2011 est.)
6.6% of GDP (2010 est.)
note: data cover central government debt; the data include debt issued by subnational entities, as well as intra-governmental debt |
Industries:
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petroleum, natural gas, light industries, mining, electrical, petrochemical, food processing |
Industrial production growth rate:
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4.8% (2011 est.) |
Electricity - production:
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40.11 billion kWh (2009 est.) |
Electricity - production per capita:
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1,147 kWh per capita |
Electricity - consumption:
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30.5 billion kWh (2008 est.) |
Electricity - consumption - per capita:
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872 kWh per capita |
Electricity - exports:
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323 million kWh (2008 est.) |
Electricity - imports:
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49 million kWh (2008 est.) |
Oil - production:
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2.078 million bbl/day (2010 est.) |
Oil - production per capita:
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59,381 bbl/day per capita |
Oil - consumption:
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312,000 bbl/day (2010 est.) |
Oil - consumption - per capita:
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3.25 bbl/year per capita |
Oil - exports:
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1.694 million bbl/day (2009 est.) |
Oil - imports:
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18,180 bbl/day (2009 est.) |
Oil - proved reserves:
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12.2 billion bbl (1 January 2011 est.) |
Natural gas - production:
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85.14 billion cu m (2010 est.) |
Natural gas - production per capita:
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2,433 cu m per capita |
Natural gas - consumption:
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29.86 billion cu m (2010 est.) |
Natural gas - consumption - per capita:
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854 cu m per capita |
Natural gas - exports:
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55.28 billion cu m (2010 est.) |
Natural gas - imports:
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0 cu m (2010 est.) |
Natural gas - proved reserves:
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4.502 trillion cu m (1 January 2011 est.) |
Agriculture - products:
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wheat, barley, oats, grapes, olives, citrus, fruits; sheep, cattle |
Current account balance:
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$18.12 billion (2011 est.)
$12.76 billion (2010 est.) |
Current account balance - per capita:
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518 USD per capita |
Exports:
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$78.51 billion (2011 est.)
$57.19 billion (2010 est.) |
Exports per capita:
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2,244 USD per capita |
Exports - commodities:
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petroleum, natural gas, and petroleum products 97% |
Exports - partners:
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US 24.9%, Italy 17.5%, Spain 10%, Canada 6.3%, France 5.1%, Netherlands 5.1%, Brazil 4.3% (2010) |
Imports:
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$49.84 billion (2011 est.)
$38.38 billion (2010 est.) |
Imports per capita:
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1,425 USD per capita |
Imports - commodities:
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capital goods, foodstuffs, consumer goods |
Imports - partners:
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France 18%, China 10.6%, Italy 9.9%, Spain 7%, Tajikistan 4.8%, Germany 4.4% (2010) |
Reserves of foreign exchange and gold:
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$185.9 billion (31 December 2011 est.)
$162.9 billion (31 December 2010 est.) |
Reserves of foreign exchange and gold - per capita:
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5,313 USD per capita |
Debt - external:
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$4.421 billion (31 December 2011 est.)
$4.344 billion (31 December 2010 est.) |
Debt - external - per capita:
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127 USD per capita |
Stock of direct foreign investment - at home:
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$24.53 billion (31 December 2011 est.)
$21.03 billion (31 December 2010 est.) |
Stock of direct foreign investment - at home - per capita:
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701 USD per capita |
Stock of direct foreign investment - abroad:
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$1.944 billion (31 December 2011 est.)
$1.844 billion (31 December 2010 est.) |
Stock of direct foreign investment - abroad - per capita:
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56 USD per capita |
Market value of publicly traded shares:
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$NA |
Market value of publicly traded shares - per capita:
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void |
Currency (code):
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Algerian dinar (DZD) |
Exchange rates:
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Algerian dinars (DZD) per US dollar -
72.51 (2011 est.)
74.39 (2010 est.)
72.65 (2009)
63.25 (2008)
69.9 (2007) |
Fiscal year:
|
calendar year |
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