Overview of the national economy
Thanks to an enviable strategic geographical location, at the center of the Mediterranean region, connecting Africa, Europe and the Middle East, Algeria offers tremendous opportunities for its economy as well as to its partners.
Algeria is the only country that connects the Mediterranean area to the heart of Africa through an Algerian-built highway crossing the Sahara Desert. Algeria can rightfully boast immediate access to seven (7) border markets in neighboring countries.
Algeria enjoys a very functional and modern infrastructure meeting world-class standards and including highways, seaports, airports and developed telecommunications.
Public development policies covers all parts of the country, with social transfers from the state budget directed to meet the citizens’ needs in education, healthcare and housing.
In agriculture Government plans have revitalized and diversified through an expansion of cultivated land, sustained momentum given to the development of new agricultural areas and revival of rural regions.
In the sector of industry and services, encouragement of investment has fostered a resurgence of the steel industry, mechanical engineering, and the agro-industry , and contributed to creation of an important number of SMEs.
In 2014, the drop in global oil prices has certainly impacted the economy of the country. Nonetheless, the Government has used the situation to put forth bold policies to diversify the economy and improve the investment climate through greater benefiting local and foreign private investors. The new investment policies are focusing on facilitating investment by streamlining procedures for firm creation, conduct of business, investment projects, and saving time and reducing administrative costs.
- Gross Domestic Product (GDP)
Algeria has enjoyed sustained and continued positive real GDP growth in local currency terms, every year, for more than 15 years.
GDP stood at 16,799.2 Billion AD ( Algerian Dinar) (160 billion usd) in 2015 The economy grew by 3.9 % in real terms in 2015 (National Office of Statistics).
The growth was driven by hydrocarbons and agricultural sectors witch respectively scored 5% and 10%.
- GDP growth by major economic activity 2014-2015 (National Office of Statistics)
|Construction &Public Works + Oil Sector Public Works
The country had a value of 159 billion USD as of June 2015, including gold.(Bank of Algeria)
The country has traditionally maintained a strong trade surplus, which narrowed with the fall of oil prices. In the first six months of 2015 recorded a deficit of 8.2 billion compared to a surplus of 2.3% during the same time in 2014.