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, wheat, milk, watermelons, onions, tomatoes, barley, vegetables, dates, oranges (2022).
More about the economy of Algeria
| Labor force | 13.425 million (2023 est.) |
|---|---|
| Industrial production growth rate | 3.74% (2023 est.) |
| Industries | petroleum, natural gas, light industries, mining, electrical, petrochemical, food processing |
| Population below poverty line | |
| Taxes and other revenues | 32.3% (of GDP) (2017 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Algerian dinars (DZD) per US dollar - |
| 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.) |
| Exchange rates 2019 | 119.354 (2019 est.) |
| Debt - external | |
| Debt - external 2022 | $671.248 million (2022 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2023 | $81.217 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $71.852 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $56.211 billion (2021 est.) |
| Current account balance | |
| Current account balance 2023 | $5.424 billion (2023 est.) |
| Current account balance 2022 | $19.448 billion (2022 est.) |
| Current account balance 2021 | -$4.51 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 | 0.74% of GDP (2023 est.) |
| Remittances 2022 | 0.74% of GDP (2022 est.) |
| Remittances 2021 | 0.96% of GDP (2021 est.) |
| Average household expenditures | |
| On food | 37.1% of household expenditures (2022 est.) |
| On alcohol and tobacco | 1% of household expenditures (2022 est.) |
| Imports | |
| Imports 2023 | $51.516 billion (2023 est.) |
| Imports 2022 | $46.63 billion (2022 est.) |
| Imports 2021 | $44.297 billion (2021 est.) |
| Imports (partners) | China 18%, France 14%, Italy 7%, Turkey 6%, Brazil 6% (2022) |
| Comodities Imports force | wheat, milk, plastics, corn, iron ore (2022) |
| Exports | |
| Imports 2023 | $51.516 billion (2023 est.) |
| Imports 2022 | $46.63 billion (2022 est.) |
| Imports 2021 | $44.297 billion (2021 est.) |
| Exports (partners) | Italy 29%, Spain 12%, France 12%, US 5%, South Korea 5% (2022) |
| Comodities Exports force | natural gas, crude petroleum, refined petroleum, fertilizers, ammonia (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $699.947 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $672.379 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $649.015 billion (2021 est.) |
| GDP (official exchange rate) | $239.899 billion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $15,300 (2023 est.) |
| Real GDP per capita 2022 | $15,000 (2022 est.) |
| Real GDP per capita 2021 | $14,700 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 13.2% (2023 est.) |
| Industry | 38% (2023 est.) |
| Services | 45.1% (2023 est.) |
| GDP - composition, by end use | |
| Household consumption | 41.2% (2023 est.) |
| Government consumption | 16.9% (2023 est.) |
| Investment in fixed capital | 33.2% (2023 est.) |
| Investment in inventories | 4.6% (2023 est.) |
| Exports of goods and services | 25.2% (2023 est.) |
| Imports of goods and services | -21% (2023 est.) |
| Unemployment rate | |
| Unemployment rate 2023 | 11.81% (2023 est.) |
| Unemployment rate 2022 | 12.44% (2022 est.) |
| Unemployment rate 2021 | 13.61% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 30.8% (2023 est.) |
| Male | 27.4% (2023 est.) |
| Female | 46% (2023 est.) |
All Important Facts about Algeria
Want to know more about Algeria? Check all different factbooks for Algeria below.
