Algeria/

Algeria’s economy remains dominated by the state, a legacy of the country’s socialist post-independence development model. Gradual liberalization since the mid-1990s has opened up more of the economy, but in recent years Algeria has imposed new restrictions on foreign involvement in its economy and largely halted the privatization of state-owned industries. Hydrocarbons have long been the backbone of the economy, accounting for roughly 60% of budget revenues, 30% of GDP, and over 95% of export earnings. Algeria has the eighth-largest reserves of natural gas in the world and is the fourth-largest gas exporter. It ranks 16th in oil reserves. Thanks to strong hydrocarbon revenues, Algeria has a cushion of $150 billion in foreign currency reserves and a large hydrocarbon stabilization fund. In addition, Algeria’s external debt is extremely low at about 1% of GDP. Algeria has struggled to develop industires outside of hydrocarbons in part because of high costs and an inert state bureaucracy.The government’s efforts to diversify the economy by attracting foregin and domestic investment outside the energy sector have done little to reduce high poverty and youth unemployment rates. In 2010, Algeria began a five-year, $286 billion development program to update the country’s infrastructure and provide jobs. The costly program will boost Algeria’s economy in 2011 but worsen the country’s budget deficit. Long-term economic challenges include diversification from hydrocarbons, relaxing state control of the economy, and providing adequate jobs for youger Algerians.

$254.7 billion (2010 est.)

$244.6 billion (2009 est.)

$239.4 billion (2008 est.)

$159 billion (2010 est.)

4.1% (2010 est.)

2.2% (2009 est.)

2.8% (2008 est.)

$7,400 (2010 est.)

$7,200 (2009 est.)

$7,100 (2008 est.)

9.877 million (2010 est.)

9.9% (2010 est.)

10.2% (2009 est.)

23% (2006 est.)

35.3 (1995)

27.5% of GDP (2010 est.)

25.7% of GDP (2010 est.)

20% of GDP (2009 est.)

5% (2010 est.)

5.7% (2009 est.)

4% (31 December 2009)

4% (31 December 2008)

8% (31 December 2009 est.)

8% (31 December 2008 est.)

$79.07 billion (31 December 2010 est)

$68.13 billion (31 December 2009 est)

$109.7 billion (31 December 2010 est.)

$98.82 billion (31 December 2009 est.)

$12.29 billion (31 December 2009 est.)

$21.71 billion (31 December 2008 est.)

$NA

wheat, barley, oats, grapes, olives, citrus, fruits; sheep, cattle

petroleum, natural gas, light industries, mining, electrical, petrochemical, food processing

4.8% (2010 est.)

34.98 billion kWh (2007 est.)

28.34 billion kWh (2007 est.)

273 million kWh (2007 est.)

279 million kWh (2007 est.)

2.125 million bbl/day (2009 est.)

325,000 bbl/day (2009 est.)

1.891 million bbl/day (2007 est.)

14,320 bbl/day (2007 est.)

13.42 billion bbl (1 January 2010 est.)

86.5 billion cu m (2008 est.)

26.83 billion cu m (2008 est.)

59.67 billion cu m (2008 est.)

0 cu m (2008 est.)

4.502 trillion cu m (1 January 2010 est.)

$3.959 billion (2010 est.)

-$4.185 billion (2009 est.)

$52.66 billion (2010 est.)

$43.69 billion (2009 est.)

petroleum, natural gas, and petroleum products 97%

US 23.2%, Italy 17.23%, Spain 10.83%, France 7.97%, Canada 7.65%, Netherlands 5.19%, Turkey 4.22% (2009)

$37.07 billion (2010 est.)

$39.1 billion (2009 est.)

capital goods, foodstuffs, consumer goods

France 19.7%, China 11.72%, Italy 10.19%, Spain 8.13%, Germany 5.77%, Turkey 5.05% (2009)

$150.1 billion (31 December 2010 est.)

$149.3 billion (31 December 2009 est.)

$4.138 billion (31 December 2010 est.)

$5.413 billion (31 December 2009 est.)

$19.34 billion (31 December 2010 est.)

$17.34 billion (31 December 2009 est.)

$1.844 billion (31 December 2010 est.)

$1.644 billion (31 December 2009 est.)

Algerian dinars (DZD) per US dollar - 76 (2010), 72.6474 (2009), 63.25 (2008), 69.9 (2007), 72.647 (2006)