Lower Energy Revenue Deepens Algeria's Trade Deficit

Algeria's energy earnings dropped 14.65 % in the first 11 months of 2019, widening the trade deficit to US$5.75 billion, up 48 % from a year earlier, customs data showed. The OPEC member and gas exporter has been trying to cut spending on imports after a sharp drop in energy revenue.

The value of oil and gas exports reached US$30.25 billion, accounting for 92.76 % of total sales abroad. Those exports compared with US$35.45 billion in the first 11 months of 2018. Overall exports stood at US$32.62 billion, against US$38.12 billion during the same period of 2018, while imports fell by 8.66 % to US$38.37 billion in the January-November period of 2019.