Economy – During the first half of 2022, Algeria’s trade balance recorded a surplus of more than $5 billion. TMT tells you more in the following lines.
While it recorded a deficit during the first half of last year estimated at 1.348 billion dollars, Algeria’s trade balance is in surplus by 5.68 billion dollars over the first six months of 2022. Thus, if you want to know more, just read the whole of this new edition of July 26, 2022.
According to customs statistics, the value of Algeria’s exports amounted to 25.922 billion dollars during the first six months of 2022. That is an increase of 48.3% compared to the same period in 2021 when the balance trade showed a value of $3.507 billion in non-hydrocarbon exports. In fact, these figures constitute 50% of the planned target for 2022.
In any case, these are the customs statistics reported by the Arabic-language daily Echorouk. According to the revelations of the same media, this first semester has seen an increase in the value of imports. And this, with 7.41% compared to the first six months of 2021. For this purpose, the value of imports amounted to 20.223 billion dollars.
Compared to the value of exports during the same period, the trade balance indicated a value of 25.922 billion dollars. This means an increase of 48.3% compared to the first six months of 2021 (17.480 billion dollars).
A significant increase in the value of non-hydrocarbon exports
In fact, Algeria has long aimed to exploit other sources to increase the value of exports, aside from hydrocarbons. To this end, the government has set a target of $7 billion. However, Algeria made $3.507 billion. That is half of the annual target set. To tell the truth, the increase in exports excluding energy and oil has enabled better coverage of imports over exports.
Indeed, the coverage rate is 128.2%, compared to 92.8% during the first half of 2021. Regarding Algeria’s trading partners, Algerian customs have made public the names of a few countries. This concerns the main suppliers, namely: China, France, Brazil, Argentina, and Italy.
The main customers include Italy (21.83%), Spain (12.13%), France (9.94%), the Netherlands (7.38%), and the United States. United (5.75%). In the same vein, it should be noted that foreign exchange reserves represent “more than 12 months of imports of goods and services”.
