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Algeria's trade deficit rises

Algeria

<p><strong>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.</strong></p> <p>The statistics office says exports have reduced by 31.4 percent estimated at 7 billion dollars while imports have reduced by 14.14 percent .</p> <p>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.</p> <p>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.</p> <p>Algeria’s non hydrocarbons exports withnessed a slightly more than 20 percent drop compared to the situation in the same period in 2015.</p> <p>A drop in oil prices pushed Algeria to cut imports after a drop in oil prices had a negative impact on state revenue.</p>
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