Algeria - Economy
How is the economy of Algeria? Based on the information we have, Algeria has a suffering oil and gas economy; lack of sector and market diversification; political instability chilling domestic consumption; poor credit access and declines in business confidence; COVID-19 austerity policies; delayed promised socio-economic reforms. Key agricultural products in this country include: potatoes, watermelons, wheat, milk, onions, tomatoes, vegetables, oranges, dates, barley (2023).
More about the economy of Algeria
| Labor force | 13.294 million (2024 est.) |
|---|---|
| Industrial production growth rate | 3.9% (2023 est.) |
| Industries | petroleum, natural gas, light industries, mining, electrical, petrochemical, food processing |
| Population below poverty line | |
| Taxes and other revenues | |
| Fiscal year | |
| Exchange rates | |
| Currency | Algerian dinars (DZD) per US dollar - |
| Exchange rates 2024 | 134.053 (2024 est.) |
| Exchange rates 2023 | 135.843 (2023 est.) |
| Exchange rates 2022 | 141.995 (2022 est.) |
| Exchange rates 2021 | 135.064 (2021 est.) |
| Exchange rates 2020 | 126.777 (2020 est.) |
| Debt - external | |
| Debt - external 2023 | $4.764 billion (2023 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2024 | $83.007 billion (2024 est.) |
| Reserves of foreign exchange and gold 2023 | $81.217 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $71.852 billion (2022 est.) |
| Current account balance | |
| Current account balance 2023 | $6.359 billion (2023 est.) |
| Current account balance 2022 | $19.433 billion (2022 est.) |
| Current account balance 2021 | -$4.513 billion (2021 est.) |
| Public debt | |
| Public debt 2017 | 27.5% of GDP (2017 est.) |
| Budget | |
| Revenues | $55.185 billion (2019 est.) |
| Expenditures | $64.728 billion (2019 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 0.8% of GDP (2023 est.) |
| Remittances 2022 | 0.8% of GDP (2022 est.) |
| Remittances 2021 | 1% of GDP (2021 est.) |
| Average household expenditures | |
| On food | 37.2% of household expenditures (2023 est.) |
| On alcohol and tobacco | 1% of household expenditures (2023 est.) |
| Imports | |
| Imports 2023 | $51.131 billion (2023 est.) |
| Imports 2022 | $46.613 billion (2022 est.) |
| Imports 2021 | $44.287 billion (2021 est.) |
| Imports (partners) | China 24%, France 12%, Italy 8%, Turkey 7%, Brazil 6% (2023) |
| Comodities Imports force | wheat, plastics, cars, milk, corn (2023) |
| Exports | |
| Imports 2023 | $51.131 billion (2023 est.) |
| Imports 2022 | $46.613 billion (2022 est.) |
| Imports 2021 | $44.287 billion (2021 est.) |
| Exports (partners) | Italy 29%, France 14%, Spain 13%, USA 6%, Netherlands 4% (2023) |
| Comodities Exports force | natural gas, crude petroleum, refined petroleum, fertilizers, iron bars (2023) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2024 | $722.912 billion (2024 est.) |
| Real GDP (purchasing power parity) 2023 | $699.818 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $672.256 billion (2022 est.) |
| GDP (official exchange rate) | $263.62 billion (2024 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2024 | $15,400 (2024 est.) |
| Real GDP per capita 2023 | $15,200 (2023 est.) |
| Real GDP per capita 2022 | $14,800 (2022 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 13.1% (2023 est.) |
| Industry | 37.8% (2023 est.) |
| Services | 45.6% (2023 est.) |
| GDP - composition, by end use | |
| Household consumption | 40.8% (2023 est.) |
| Government consumption | 17.9% (2023 est.) |
| Investment in fixed capital | 32.8% (2023 est.) |
| Investment in inventories | 4.9% (2023 est.) |
| Exports of goods and services | 23.6% (2023 est.) |
| Imports of goods and services | -20.1% (2023 est.) |
| Unemployment rate | |
| Unemployment rate 2024 | 11.5% (2024 est.) |
| Unemployment rate 2023 | 11.8% (2023 est.) |
| Unemployment rate 2022 | 12.4% (2022 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 29.8% (2024 est.) |
| Male | 26.8% (2024 est.) |
| Female | 45.8% (2024 est.) |
All Important Facts about Algeria
Want to know more about Algeria? Check all different factbooks for Algeria below.
