ALGERIAN JAN-JULY TRADE DEFICIT RISES 26.5 PCT TO NEARLY 12 BILLIO USD
ALGIERS, — Algeria’s trade deficit for the first seven months of this year rose to 11.93 billion US dollars, an cincrease of 26.5 per cent from the deficit of 9.43 billion USD recorded in the same period last year, according to the Algerian Customs service.
Exports fell sharply to 15.14 billion USD during the seven months, down nearly 7.0 billion USD or 31.48 per cent from the deficit of 22.1 billion achieved in the same period of 2015, reports the Algerian Customs’ National Centre of Data Processing and Statistics (CNIS).
Imports also fell, but at a slower pace compared with the drop in exports, totalling 27.07 billion USD against 31.53 billion USD previously, a drop of 14.14 per cent. Coverage of imports by exports reached a rate of 56 per cent compared with 70 per cent in the same period of 2015.
Hydrocarbons continued to represent the bulk of Algeria’s exports at 93.73 per cent of overall export value, or 17.19 billion USD during the seven first months of the year, against 20.9 billion USD in the same period of 2015, a drop of 32.09 per cent.
Non-hydrocarbon exports, which represented just 6.27 per cent of overall exports, fell to 949 million USD, a 20.72 per cent drop compared to the first seven months of 2015.
As for imports, all product groups recorded a drop during the period.
Source: Nam News Network