ALGERIA’S TRADE DEFICIT FALLS SHARPLY IN JANUARY ON HIGHER EXPORT REVENUE
ALGIERS, Feb 21 (NNN-APS) — Algeria’s trade deficit fell sharply to 585 million US dollars in January this year, a drop of 68 percent from the deficit of 1.82 billion USD recorded in January 2016, according to the latest statistics from Algerian Customs.
The drop resulted mainly from the rise in exports to 3.3 billion USD in the month, from 2.05 billion USD in January 2016, a rise of 60.74 per cent, or 1.25 billion USD, the Algerian Customs’ National Centre of Data Processing and Statistics (CNIS) reported here Monday.
The CNIS said imports have stabilized, reaching 3.89 billion USD in January 2017 against 3.88 billion USD in the same month a year earlier. Exports covered imports by more than 85 per cent in January 2017 against 53 per cent in January 2016.
Thanks to a recovery in oil prices, which rose to above 55 USD a barrel last month, hydrocarbon exports, which account for 94.11 per cent of Algeria’s total exports, reached 3.11 billion USD, compared with 1.97 billion USD during the same month of, up by 1.14 billion USD, or 58 per cent.
Non-hydrocarbon exports rose to 195 million USD from 88 million USD previously.
As for imports, out of the seven groups of imported products, two recorded a drop in January, namely non-food consumer goods and semi-finished products.
Imports of food products rose to 736 million USD (from 629 million USD in January 2016), industrial capital goods to 1.51 billion USD (USD1.35 billion), agricultural capital goods to 50 million USD (USD39 million), raw materials to 150 million USD (USD144 million).
Source: Nam News Network