Algeria’s trade balance has recorded a deficit of US$9.8 billion in the first five months of 2016, against US$7.23 billion during the same period in 2015, up by 35.5%, said the Algerian Customs’ National Centre of Data Processing and Statistics (CNIS).
Exports have sharply dropped to US$9.82 billion between January and May 2016, against US$15.39 billion over the same period in 2015, down by 36.2%, while imports declined to US$19.62 billion, against US$22.62 billion, down by 13.26%, according to the figures provided by the CNIS.
Hydrocarbons continue to represent the bulk of Algeria’s sales abroad with 92.96% of its overall export value, totalling US$9.13 billion during the first five months, against US$14.5 billion during the same period a year earlier, said the source.
Non-hydrocarbon exports, which represented 7% of the overall export value, decreased to US$691 million, down by 23.14% compared to the first five months of 2015.
In imports, the same downward trend was recorded during the first five months of 2016, especially in food products, which went down by 21.7%, capital goods (-15.36%) and non-food consumer goods (-9.1%).
Algeria’s large trading customers between January and May 2016 were Italy with US$2.096 billion (21.34% of Algeria’s overall export value during that period), followed by Spain (US$1.416 billion, 14.42%), France (US$1.192 billion, 12.14%), Canada (US$607 million, 6.18%) and the United States (US$537 million, 5.47%).
Algeria’s main suppliers were China with US$3.528 billion (17.98% of Algeria’s overall import value during the first five months of 2016, followed by France (US$2.27 billion, 11.57%), Italy (US$2.016 billion, 10.27%), Spain (US$1.526 billion, 7.78%) and Germany (US$1.1 billion, 5.6%).
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Credit: All Africa