Algeria's trade deficit down 50% in Q1 2017
APS - 22 April 2017
ALGIERS- Algeria's trade deficit hit US$2.74 billion over the first quarter of 2017, against US$5.54 billion during the same period a year earlier, down by over 50%, said the Algerian Customs' National Centre of Data Processing and Statistics (CNIS).
Exports increased to US$8.944 billion in Q1 2017, against US$6.32 billion during the same period in 2016, up by 41.52%, while imports dropped to US$11.68 billion in January-March 2017, against US$11.86 billion during the same period of reference, down by 1.5%.
Following the increase in oil prices, varying between US$50 and US$57 in the first quarter of 2017, hydrocarbon exports (representing 94.73% of the overall export value) totalled US$8.47 billion, against US$5.91 billion during the same period in 2016, up by 43.42%, according to figures provided by CNIS.
Non-hydrocarbon exports, which represented 5.3% of the overall export value, hit US$471 million, against US$412 million, up by 14.32%, during the same period of reference.
The non-hydrocarbon exports were made up of semi-finished products, which totalled US$349 million in January-March 2017, foodstuffs (US$87 millions) and raw materials (US$19 million).
In imports, a 14.2% increase was recorded in food bill (US$2.26 billion, against US$1.98 billion) and +7.23% in capital goods (US$4.44 billion, against US$4.14 billion), while a 10.32% drop was recorded in industrial capital goods (US$3.33 billion against US$3.71 billion), and -18.6% in non-food consumer goods (US$1.64 billion, against US$2.02 billion).
In January-March 2017, Algeria's large trading customers were Italy with US$1.74 billion (19.45% of Algeria's overall export value), followed by Spain (US$913 million, 10.21%), the United States (US$903 million, 10.1%), France (US$897 million, 10.03%), and the Netherlands (US$495 million, 5.53%).������ Algeria's main suppliers were China with US$2.47 billion (21.2% of Algeria's overall import value), followed by France (US$971 million, 8.3%), Italy (US$796 million, 6.8%), Germany (US$781 million, 6.7%) and Spain (US$709 million, 6.1%).