ALGERIA RECORDS 9.8 BLN USD TRADE DEFICIT IN JAN-MAY 2016

ALGIERS, -- Algeria recorded a trade deficit of 9.8 billion US dollars in the first five months of 2016, an increase of 35.5 per cent from the deficit of 7.23 billion USD during the same period last year, according to the latest trade figures from the Algerian Customs' National Centre of Data Processing and Statistics (CNIS).

Exports dropped sharply to 9.82 billion USD in the first fie months of this year from 15.39 billion USD in the same period of 2015, a decline of 36.2 per cent, while imports fell 13.26 per cent to 19.62 billion USD from 22.62 billion USD previously, the CNIS reported here Monday.

Hydrocarbons continued to represent the bulk of Algeria's exports, accounting for 92.96 per cent of the overall export value, during the period, down from 14.5 billion USD during the same period a year earlier.

Non-hydrocarbon exports fell 23.14 per cent to 691 million USD compared with the first five months of 2015.

Algeria's main export markets in the period were Italy (21.34 per cent of overall exports), Spain (14.42 pct), France (12.14 pct), Canada (6.18 pct) and the United States (5.47 pct).

Algeria's main sources of imports were China (17.98 per cent of total imports), France (11.57 pct), Italy (10.27 pct), Spain (7.78 pct) and Germany (5.6 pct).

Source: Name News Network