Economic growth (gross domestic product/ GDP) boosted by 4.2 percent during first half of 2021

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ALGIERS- The recovery of economic activity, in several sectors in 2021 boosted Algeria’s gross domestic product GDP, which recorded a significant growth of 4.2 percent during the first semester of 2021 compared to the same period last year, after the decline recorded last year due to the direct repercussions of Covid-19.

After recording an increase of 2 percent during the first quarter and 6.4 percent during the second quarter, economic growth reached 4.2 percent during the first six months of the current year. This improvement is due to a “strong recovery” of the activities of most sectors, with the exception of the agriculture sector, which recorded a “slight decline” of 0.3 percent during the second quarter, compared to an increase of 0.6 percent during the first quarter, according to the data of the National Statistics Office.

This economic growth was mainly recorded in the sectors of hydrocarbons, industry, construction and public works and irrigation, especially petroleum services and public works, commercial services and non-commercial services, according to the same source.

The added value of hydrocarbons “contributed strongly” to achieving economic growth, especially in the crude oil and natural gas activities, with an increase of 41.2 percent.

The easing of the lockdown procedures for the sector of services allowed the achievement of “good results”: hotels, cafes and restaurants with +124 percent, transportation and communications with +10.4 percent, trade and services provided to families with 10.3 percent and finally services provided to companies with 3.5 + percent.

As for the high growth in the industrial sector, it is mainly due to the increase in the added value of energy (+10.5%), iron and metallurgical, mechanical, and electrical industries (+38.9%), building materials (+8.9%) and textiles (+9.5%). ) and food industries (+3%).

During the second quarter of the current year, imports of goods and services recorded a growth in volume of 3.7 percent, compared to -22.3 percent during the same period in 2020, due to an increase in goods imports by 3.8 percent and services imports by +3.6 percent, according to the same source.

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