Tuesday 21 November 2017
Last update on Tuesday, November 21, 2017 At 2:05 PM
The Algerian custom’s National Centre of Data Processing and Statistics (CNIS) reported that over the period January-October 2017, Algeria’s trade deficit registered a 34% decrease as it declined from 14, 4 billion dollars to 9, 5 million dollars compared to last year’s same period.
Overall good results!
Moreover, exportations grew up strongly, rising up to 28, 5 million dollars in the 3rd quarter of 2017, instead of 24, 5 million dollars during the same period, a year earlier, a 17, 1% increase. On the other hand, the CNIS noted that importations have logically declined from 38, 88 million dollars to 38, 11 million in the last 10 months, a 1, 8 % decrease.
Meanwhile, the hydrocarbon sector is still controlling the volume of exports in Algeria as the Exports of non-hydrocarbon goods raised only by 3, 4%. The Main sectors that realized a decrease in terms of import are: industrial equipment goods, amounting to 11.72 billion dollars versus 12, 67 billion dollars (-7, 5%), consumer goods non-food with 7, 04 billion dollars against 7, 84 billion dollars (-10, 15%) and gross products at 1, 22 billion dollars against 1, 25 billion dollars (-2, 4%).
China: Algeria’s pre-eminent trade partner
The usual hierarchy didn’t change, regarding the trading partners of Algeria. Customs service’s statistics showed that Italy were the leader with 62 billion dollars (16, 12% of global Algerian exports), followed France with 3, 44 billion dollars (12, 02%), Spain with 3, 14 billion dollars (10, 97%), the United States with 2, 64 billion dollars (9, 22%) and from Brazil with 1, 72 billion USD (6, 01%). Among Algeria’s main suppliers, China, as usual, took the lion part of the market with 7, 29 billion US dollars (19, 11% of Algeria’s total imports), followed by France with 3, 47 billion dollars (9, 1%), Italy with 3, 04 billion dollars (7, 9%), Spain with 2, 56 billion dollars (6, 7%) and Germany with 2, 54 billion dollars (6, 65%)
The Ouyahia method !
Everywhere around the world, economy and politics go together. In Algeria, after the dismissal of former Prime Minister Abdelmajid Tebboun and the arrival of the experienced Ahmed Ouyahia, the governmet’s right hand, his administration wanted to tackle the problem of global budget in the country. In order to achieve that goal, the Algerian executive made the trade balance reducing issue as a priority. That said, it would appear that the reforms (import permits, curruncy devaluation, fuel taxes increasing) introduced by the new Prime Minister government are paying-off!
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