Xifres de comerç exterior d'Algèria

Foreign Trade in Figures

Algeria has an open economy in which foreign trade represents 46% of GDP (World Bank, 2020). Natural gas and petroleum products account nearly for all of exports. In particular, hydrocarbons represent 94% of the total volume of exports. Algeria's main imports are wheat, cars, petroleum products, dairy products and medicines. According to the latest IMF data, the volume of exports of goods and services only grew by 0.8% in 2021 compared to 2020, still affected by the drop in oil prices and the effects of the Covid-19 pandemic. The volume of imports grew by 1.9%. The IMF forecasts the volume of exports to rebound in 2022 (6.6%), driven by higher gas demand. On the other hand, the volume of imports is expected to decrease by -5%, as the government is trying to contain imports.

In 2017, Italy was the top destination for Algerian exports (16%), followed by France, Spain, the United States and Brazil. China was by far the main supplier of goods in Algeria (18.1% of all imports), followed by France, Italy, Germany and Spain. Algeria ratified the Agreement on the African Continental Free Trade Area (AfCFTA) in December 2019 in Accra, Ghana. The agreement allows interested states to benefit from the progressive elimination of tariff barriers for a period of five years from its entry into force in July 2020. The agreement aims to free African states from dependence on the extraction of raw materials and promote inter-African trade.

While the trade balance was historically positive, the surplus has vanished completely since late 2012 and the country has had a trade deficit since 2015. This reduction was due to a sharp fall in hydrocarbon exports, which represent nearly all of exports. Incomes have also decreased drastically with the fall of oil prices. After hitting a record high level in 2016 (USD 20 billion), the deficit narrowed due to a recovery in oil exports and a decrease in imports. According to WTO data, in 2020 Algeria exported USD 21.6 billion worth of goods whereas it imported goods for the total value of USD 35.1 billion. In terms of services, the country exported the equivalent of USD 3 billion and imported USD 7.7 billion.