Algeria, August 8, 2019

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Algeria’s economy: Annual growth at 1.4% in 2018

ALGIERS- Algeria’ annual economic growth stood at 1.4% in 2018, against 1.3% in 2017, announced the National Statistics Office (ONS).

Growth remains “positive” despite the economic context characterized mainly by a current account deficit of the balance of payments, a decline in foreign exchange reserves, and a decline in growth in the hydrocarbon sector, said a publication of the Office on the economic accounts by volume from 2015 to 2018.

The growth rate of GDP, excluding hydrocarbons, improved to reach 3.3% in 2018 against 2.1% in 2017, “which is a significant performance,” according to the statistical agency.

Economic growth was driven mainly by agriculture (5%), construction, public works and hydraulics (BTPH) including petroleum services and public works (5.2%) and Industry with 4.1%.

In current value, GDP increased from DA 18,575.8 billion in 2017 to DA 20,259.0 billion, an increase of 9.1%.

Per capita, GDP is valued at 4.080,7 dollars in 2018 against 4.011,2 dollars the year before.

In 2018, hydrocarbon exports reached $ 39 billion in 2018 compared with 33.5 in 2017, an increase of 16.6% in value.

The average price of Algerian crude increased from $ 54.2 per barrel in 2017 to $ 71.1 per barrel in 2018, an increase of 31.2%.

In terms of volume, exports of hydrocarbons fell by 8.4% in 2018 after falling by 3.5% in 2017.

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