Portuguese / Spanish / English

Algeria expects its foreign trade surplus to exceed $17bn

Algerian Prime Minister and Minister of Finance Aymen Benabderrahmane holds a press conference during his to the province of Oran, where the Mediterranean Games of 2022 will be held, on October 4, 2021. [RYAD KRAMDI/AFP via Getty Images]
Algerian Prime Minister and Minister of Finance Aymen Benabderrahmane holds a press conference during his to the province of Oran, where the Mediterranean Games of 2022 will be held, on October 4, 2021. [RYAD KRAMDI/AFP via Getty Images]

Algeria expects its foreign trade surplus to exceed $17 billion by the end of the year and for exports of non-oil products to reach $7 billion.

Prime Minister Ayman Ben Abdel Rahman said yesterday that "the trade balance obtained a surplus estimated at $14 billion at the end of August, and we expect it to exceed $17 billion by the end of 2022," according to the official news agency.

He explained that "the currently adopted foreign trade policy aims to control and streamline imports, not curb them, as some malicious parties are trying to claim."

He pointed out that the value of non-oil exports amounted to $4.4 billion at the end of August, adding that he expects them to reach $7 billion by the end of the year.

In 2021, Algeria's non-oil exports reached $5 billion, the highest rate in the country's history since its independence from France in 1962.

Ben Abdel Rahman said foreign exchange reserves "recorded a significant increase in the recent period, exceeding the percentages that were predicted," without giving details of their current value.

READ: Tebboune: Palestine is 'national issue' for Algeria

Categories
AfricaAlgeriaEurope & RussiaFranceNews
Show Comments
The JNF/KKL A Charity Complicit With Ethnic Cleansing book launch
Show Comments