Algeria expects 17 bn in trade surplus

Exports excluding hydrocarbons reached 5 bn in 2021

26 September, 15:49

    (ANSAmed) - ALGIERS, SEPT 26 - Algeria's trade surplus is expected to top 17 billion dollars by the end of the year, said Prime Minister Aymene Ben Abderrahmene, at the end of a conference held Monday in Algiers, according to official news agency Aps.

    "The trade balance recorded a surplus of 14 billion dollars at the end of August and we expect a surplus of over 17 billion dollars at the end of 2022", added Ben Abderrahmene.

    The Algerian premier explained that "the foreign trade policy currently adopted aims to control and rationalize exports, not to stop them, as some ill-intentioned people are trying to hint".

    Ben Abderrahmene stressed that the value of exports, excluding hydrocarbons, totaled 4.4 billion dollars at the end of August. Last year, Algeria reached 5 billion dollars in exports, with the exception of hydrocarbon exports - an unprecedented figure in the history of the North African country.

    A few months ago, public hydrocarbon company Sonatrach announced it would reach 50 billion dollars in revenues by the end of this year, thanks to an increase in oil and gas prices.

    Algeria, a member of the Organization of the Petroleum Exporting Countries (OPEC), produces over one million barrels of crude oil a day and 90% of its economy relies on hydrocarbons.(ANSAmed). (ANSA).

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