ALGERIA RECORDS 11 BLN USD TRADE DEFICIT IN 2016

ALGIERS, -- Algeria's recorded a trade deficit of 10.83 billion US dollars in the first half of 2016, up 27.2 per cent from the deficit of 8.51 billion reported for the same period in 2015, according to the Algerian Customs National Centre of Data Processing and Statistics (CNIS).

Exports sharply declined to 12.68 billion during the first six months of 2016 from 18.93 billion during the same period a year earlier, a drop of 33.02 per cent, while imports fell 14.34 per cent to 23.51 billion USD from 27.445 billion USD previously, the CNIS reported here Wednesday.

Hydrocarbons continued to represent the bulk of Algeria's exports, accounting for 93.55 per cent of total exports with a value of 11.86 billion USD for the first half of 2016, against 17.868 billion USD in the same period of 2015, a drop of 33.62 per cent, said the CNIS.

Non-hydrocarbon exports, which represented 6.45 per cent of total exports by value, fell 22.83 per cent to 818 million USD compared with the first six months of 2015.

Imports of food products dropped to 4.041 billion USD (- 21.09 per cent), capital goods to 8.031 billion USD ( - 15.28 pct) and non-food consumer goods to 4.107 billion USD( - 9.70 pct).

Algeria's leading export destinations in the first half were Italy with 2.550 billion (20.11 per cent total exports), followed by Spain (1.784 billion USD), France (1.422 billion USD), the United States (931 million USD) and Canada (784 million USD).

The main sources of imports were China at 4.167 Billion (17.73 per cent of total imports), followed by France (2.684 billion USD), Italy (2.405 billion USD), Spain (1.861 billion USD) and Germany (1.334 billion USD).

Source: Name News Network