Algeria has lost an estimated amount of 165 billion dollars due to brain drain from about 500,000 elite Algerians working outside the country.
This is according to the country’s former Minister of Trade Smail Goumeziane who has described the brain drain as an invisible export.
In a recently published article in in one of the newspapers in the country, the former minister explains that this immigration allows the host country to save 12,000 dollars per year a 60 billion dollars shortfall to Algeria.
He also says that by creating wealth estimated at 20,000 dollars in a year for the host countries, Algerian managers generates some 300 billion dollars that only favours the foreign countries.
This leads to a total of 465 billion dollars which have benefitted the host countries in a 30 year period.
These revelations have been made when the country is currently undergoing an economic crisis caused by the fall in global oil prices.