Hydrocarbons activity is the single most important industry in Algeria, accounting for approximately 60% of government revenues and 95% of total exports. The fall in oil prices since mid-2014 of more than 50% had a negative impact on the country’s finances and resulted in a halving of earnings from hydrocarbons exports. Concerns have been...
As well as holding the 10th-largest gas reserves in the world, Algeria is also the top natural gas producer in Africa, with a total of 83.3bn cu metres (bcm) in 2014. Hydrocarbons have been one of the main drivers behind the country’s economic development, and according to the IMF they account for around 95% of Algeria’s export earnings,...
Hydrocarbons wealth has underwritten Algeria’s growth for decades, allowing the country to accumulate huge foreign currency reserves and underwrite a major public spending campaign over the past 10 years. However, the dramatic drop in oil prices since mid-2014 has had an impact. Despite GDP growth of 4% in 2014, Algeria also experienced its first current account deficit since the late 1990s,...
Algeria is a country rich in history and situated in a strategically important region. While its past has at times been turbulent, the last decade has been one of relative peace. Economic growth and development has followed, driven primarily by advances in the hydrocarbons sector.
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