(Ecofin Agency) – The trade surplus is mainly due to a strong increase in the value of exports in the context of rebounding hydrocarbon prices, even if non-energy exports recorded a strong increase during the period under review.
Algeria’s trade balance showed a surplus of $18.1 billion in the first eleven months of 2022, compared to a deficit of $1.8 billion in the same period of 2021, the Algerian press agency reported. Sunday, January 15, quoting an official from the Ministry of Commerce.
“The trade balance had reached a very positive level during the period from January to November 2022, recording a surplus of around $18.1 billion, compared to $1.8 billion over the same period of 2021”, s’ is congratulated the assistant director of monitoring and support of exports at the Ministry of Commerce, Houari Abdellatif.
The increase in Algeria’s trade surplus is mainly due to a sharp increase in the value of exports in the context of rebounding hydrocarbon prices. Exports excluding energy products, however, reached $6.06 billion over the first eleven months of the past year, thus recording a growth of 36%, compared to the same period of 2021.
“ Non-hydrocarbon exports represent 11% of the overall export rate, which is a historic first. The Algerian economy has managed for the first time to increase its quota of non-hydrocarbon exports to a double-digit rate ”, underlined Mr. Abdellatif.
With a value of $1.7 billion, fertilizers top the list of Algerian non-hydrocarbon exports between January and November 2022 (+28% compared to the same period in 2021), followed by steel ($500 million ) and cement (nearly $400 million).
