Algeria’s energy earnings up 16.5 pct in 2017 – Customs

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Algeria’s energy earnings, the main source of state finances, rose 16.45 percent in 2017, helping to reduce the trade deficit by 34.4 percent, according to official figures reviewed by Reuters on Monday.

The decline in the deficit pushed up the coverage of imports by exports to 76 percent, against 64 percent in 2016, customs data showed.

Oil and gas exports, which accounted for 94.54 percent of total exports, stood at $32.86 billion in 2017, up from $28.22 billion the previous year.

The value of overall exports reached $34.76 billion, a 15.8 percent rise from 2016, while imports declined by 2.4 percent to $45.95 billion.

Fuel was among the main products imported last year, with its cost climbing by 23 percent to $2 billion from $1.61 billion in 2016.

Samira SALAH

Reuters

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