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Algeria's trade deficit rises

Algeria's trade deficit rises

Algeria

Information from Algeria’s National Centre of data processing and customs statistics says Algeria’s trade deficit has reached 11.93 billion dollars during the first seven months of 2016 against a deficit of 9.4 billion dollars during the same period in 2015.

The statistics office says exports have reduced by 31.4 percent estimated at 7 billion dollars while imports have reduced by 14.14 percent .

Within the same period, the statistics office says the rate of coverage of imports by exports now stands at 56 percent as against 70 percent last year.

Customs officials say the reduction in exports can be explained by a reduction in oil exports which represents 93.7 percent of overall exports and more than 93 percent of the country’s revenue.

Algeria’s non hydrocarbons exports withnessed a slightly more than 20 percent drop compared to the situation in the same period in 2015.

A drop in oil prices pushed Algeria to cut imports after a drop in oil prices had a negative impact on state revenue.

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