Portuguese / Spanish / English

Algeria's non-oil exports exceed $6bn at end of November

Algerian flags flutter in front of the People's National Assembly (parliament) building in the capital Algiers, on 10 September 2020. [RYAD KRAMDI/AFP via Getty Images]
Algerian flags. [RYAD KRAMDI/AFP/Getty Images]

Algeria's non-oil exports exceeded $6 billion in the period between the beginning of the year and the end of November, the highest achievement in the country's history since its independence from France in 1962, Trade Minister Kamal Rizik said yesterday.

Rizik's remarks came on the sidelines of the launch of the Algerian Production Exhibition, which will take place in the capital until 24 December, Anadolu Agency reported.

The Algerian minister attributed this achievement to the growth recorded by several local industrial sectors as well as the quality of exported products. He did not provide details of which sectors he was referring to.

He noted that the authorities aim to double this figure and bring it to $15 billion in non-hydrocarbon exports by 2023.

Algeria's economy suffers from excessive dependence on oil and gas export revenues, which make up about 90 per cent of the country's foreign exchange income, according to official data.

The government expects revenues from oil and gas exports to exceed $50 billion by the end of the year, up from $35 billion last year.

READ: Tunisia says to have priority in sourcing gas from Algeria

Categories
AfricaAlgeriaNews
Show Comments
Order your copy of our latest book - Engaging the World: The Making of Hamas's Foreign Policy - Palestine
Show Comments