ALGIERS – Monday, 03 October 2022 (APS) – Algeria’s non-hydrocarbon exports reached about USD4 billion at the end of August 2022, i.e. annual increase of 42%, Prime Minister Aïmene Benabderrahmane said Monday in Algiers.
Prime minister presented the Government’s general policy statement before the members of the People’s National Assembly in a plenary session chaired by Brahim Boughali, speaker of the parliamentary institution, in the presence of the Government’s members.
“The non-hydrocarbon exports increased from USD2.61 billion in late August 2021 to about USD4 billion during the same period in 2022, up by 42%,” said Benabderrahmane.
“At the end of August 2022, the surplus on trade balance reached about USD14 billion against a deficit of USD862 million during the same period in 2021,” said the minister, underscoring that this deficit reached USD10.6 billion in 2020.
The balance of payments recorded a surplus of USD9.1 billion against a deficit of USD4.4 billion during the same period in 2021, according to the Prime minister.
“Algeria worked in 2021 for the recovery of the economic activity after a significant drop in 2020 because of the Covid-19 pandemic,” he said, adding that “the Algerian economy experienced in 2021 a catch-up effect characterized by an economic growth of +4.7%.”
In this respect, he pointed out that the consumer price index (CPI) “increased by +7.2% at the end of 2021 against +2.4% at the end of 2020,” saying that “this inflation was mainly related to foodstuffs (+10.1%) and manufactured products (+6.3%).
When dealing with the financial situation, Prime minister affirmed that the Government “has focused its efforts in 2021 on maintaining the stability of main macro-economic indicators, the reduction of internal and external imbalances.”