ALGERIAN TRADE WITH ARAB COUNTRIES POSTS 351 MLN USD DEFICIT
ALGIERS, -- Algeria's trade with other members of the Greater Arab Free Trade Area (GAFTA) showed a deficit of 351 million US dollars in 2015, against a surplus of one billion USD in 2014, according to the National Agency for Foreign Trade Promotion (ALGEX).
Algerian exports to GAFTA countries dropped by more than 40 per cent in 2015 compared with the previous year mainly as a result of the steep (- 40 per cent) decline in exports of hydrocarbons to 2.1 billion USD from 3.5 billion USD in 2014, despite a significant increase in volume ( 40 pct).
Non-hydrocarbon exports fell by 52 per cent to 121 million USD, mainly because of a drop by 70 per cent of sales of sugar to about 48 million USD.
Agricultural products and agri-foodstuffs exports, accounting for nearly 60 per cent of Algeria's non-hydrocarbon exports to GAFTA, fell by 60 per cent to 71.5 million USD. In this category of exports, sugar represented 67 per cent of the total with the balance consisting mainly of dates, truffles, mineral and soda water, alimentary pastes and yoghurt.
Industrial products accounted for 40 per cent of non-hydrocarbon exports to GAFDTA countries. They were valued at 49.4 million USD (- 35 pct), including 18.8 million of ammonia exports.
More than 70 per cent of Algerian non-hydrocarbon exports to GAFTA went to Tunisia, Morocco, Lebanon and Syria.
Source: Name News Network