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Algeria

Algerian Economy Stats

Overview:

Algeria's economy remains dominated by the state, a legacy of the country's socialist post-independence development model. Gradual liberalization since the mid-1990s has opened up more of the economy, but in recent years Algeria has imposed new restrictions on foreign involvement in its economy and largely halted the privatization of state-owned industries. Hydrocarbons have long been the backbone of the economy, accounting for roughly 60% of budget revenues, 30% of GDP, and over 95% of export earnings. Algeria has the eighth-largest reserves of natural gas in the world and is the fourth-largest gas exporter. It ranks 16th in oil reserves. Thanks to strong hydrocarbon revenues, Algeria has a cushion of $150 billion in foreign currency reserves and a large hydrocarbon stabilization fund. In addition, Algeria's external debt is extremely low at about 1% of GDP. Algeria has struggled to develop industires outside of hydrocarbons in part because of high costs and an inert state bureaucracy.The government's efforts to diversify the economy by attracting foregin and domestic investment outside the energy sector have done little to reduce high poverty and youth unemployment rates. In 2010, Algeria began a five-year, $286 billion development program to update the country's infrastructure and provide jobs. The costly program will boost Algeria's economy in 2011 but worsen the country's budget deficit. Long-term economic challenges include diversification from hydrocarbons, relaxing state control of the economy, and providing adequate jobs for youger Algerians.

Definitions

  • Budget > Revenues: Revenues calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms
  • Budget surplus > + or deficit > -: This entry records the difference between national government revenues and expenditures, expressed as a percent of GDP. A positive (+) number indicates that revenues exceeded expenditures (a budget surplus), while a negative (-) number indicates the reverse (a budget deficit). Normalizing the data, by dividing the budget balance by GDP, enables easy comparisons across countries and indicates whether a national government saves or borrows money. Countries with high budget deficits (relative to their GDPs) generally have more difficulty raising funds to finance expenditures, than those with lower deficits.
  • Debt > Government debt > Public debt, share of GDP: Public debt as % of GDP (CIA).

    No date was available from the Wikipedia article, so we used the date of retrieval.

  • Exports: This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
  • GDP: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.
  • GDP > Composition, by sector of origin > Services: This entry is derived from Economy > GDP > Composition, by sector of origin, which shows where production takes place in an economy. The distribution gives the percentage contribution of agriculture, industry, and services to total GDP, and will total 100 percent of GDP if the data are complete. Agriculture includes farming, fishing, and forestry. Industry includes mining, manufacturing, energy production, and construction. Services cover government activities, communications, transportation, finance, and all other private economic activities that do not produce material goods.
  • GDP > Per capita: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries. The measure is difficult to compute, as a US dollar value has to be assigned to all goods and services in the country regardless of whether these goods and services have a direct equivalent in the United States (for example, the value of an ox-cart or non-US military equipment); as a result, PPP estimates for some countries are based on a small and sometimes different set of goods and services. In addition, many countries do not formally participate in the World Bank's PPP project that calculates these measures, so the resulting GDP estimates for these countries may lack precision. For many developing countries, PPP-based GDP measures are multiples of the official exchange rate (OER) measure. The difference between the OER- and PPP-denominated GDP values for most of the weathly industrialized countries are generally much smaller. Per capita figures expressed per 1 population.
  • GDP > Per capita > PPP: This entry shows GDP on a purchasing power parity basis divided by population as of 1 July for the same year.
  • GDP > Purchasing power parity per capita: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries. The measure is difficult to compute, as a US dollar value has to be assigned to all goods and services in the country regardless of whether these goods and services have a direct equivalent in the United States (for example, the value of an ox-cart or non-US military equipment); as a result, PPP estimates for some countries are based on a small and sometimes different set of goods and services. In addition, many countries do not formally participate in the World Bank's PPP project that calculates these measures, so the resulting GDP estimates for these countries may lack precision. For many developing countries, PPP-based GDP measures are multiples of the official exchange rate (OER) measure. The difference between the OER- and PPP-denominated GDP values for most of the weathly industrialized countries are generally much smaller. Figures expressed per capita for the same year.
  • GDP per capita: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. Figures expressed per capita for the same year.
  • Gross National Income: GNI, Atlas method (current US$). GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and prop).
  • Inflation rate > Consumer prices: This entry furnishes the annual percent change in consumer prices compared with the previous year's consumer prices.
  • Population below poverty line: National estimates of the percentage of the population lying below the poverty line are based on surveys of sub-groups, with the results weighted by the number of people in each group. Definitions of poverty vary considerably among nations. For example, rich nations generally employ more generous standards of poverty than poor nations.
  • Public debt: This entry records the cumulatiive total of all government borrowings less repayments that are denominated in a country's home currency. Public debt should not be confused with external debt, which reflects the foreign currency liabilities of both the private and public sector and must be financed out of foreign exchange earnings.
  • Unemployment rate: This entry contains the percent of the labor force that is without jobs. Substantial underemployment might be noted.
STAT AMOUNT DATE RANK HISTORY
Budget > Revenues $82.69 billion 2013 36th out of 223
Budget surplus > + or deficit > - -4.7% of GDP 2012 137th out of 182
Debt > Government debt > Public debt, share of GDP 8.8 CIA 2014 142nd out of 153
Exports $71.74 billion 2012 47th out of 189
GDP $207.96 billion 2012 46th out of 177
GDP > Composition, by sector of origin > Services 29.6% 2012 180th out of 189
GDP > Per capita $6,669.02 per capita 2007 95th out of 183
GDP > Per capita > PPP $7,300.00 2012 103th out of 188
GDP > Purchasing power parity per capita $6,872.12 2010 98th out of 181
GDP per capita $5,404.00 2012 89th out of 177
Gross National Income $51.03 billion 2001 41st out of 158
Inflation rate > Consumer prices 8.9% 2012 33th out of 199
Population below poverty line 23% 2006 14th out of 21
Public debt 8.3% of GDP 2012 141st out of 149
Unemployment rate 10.7% 2012 37th out of 112

SOURCES: CIA World Factbooks 18 December 2003 to 28 March 2011; CIA World Factbooks 2010, 2011, 2012, 2013; Wikipedia: List of countries by public debt (List) (Public debt , The World Factbook , United States Central Intelligence Agency , accessed on March 21, 2013.); World Bank national accounts data, and OECD National Accounts data files.; CIA World Factbook 2010, 2011, 2012, 2013; CIA World Factbooks 18 December 2003 to 28 March 2011. Population figures from World Bank: (1) United Nations Population Division. World Population Prospects, (2) United Nations Statistical Division. Population and Vital Statistics Report (various years), (3) Census reports and other statistical publications from national statistical offices, (4) Eurostat: Demographic Statistics, (5) Secretariat of the Pacific Community: Statistics and Demography Programme, and (6) U.S. Census Bureau: International Database.; World Bank national accounts data, and OECD National Accounts data files. Population figures from World Bank: (1) United Nations Population Division. World Population Prospects, (2) United Nations Statistical Division. Population and Vital Statistics Report (various years), (3) Census reports and other statistical publications from national statistical offices, (4) Eurostat: Demographic Statistics, (5) Secretariat of the Pacific Community: Statistics and Demography Programme, and (6) U.S. Census Bureau: International Database.; CIA World Factbooks 18 December 2003 to 28 March 2011

Citation

"Algeria Economy Stats", NationMaster. Retrieved from http://www.nationmaster.com/country-info/profiles/Algeria/Economy

NationMaster

Algeria Economy Profiles (Subcategories)

Adjusted savings 3 Innovation 23
Aid 5 Interest payments 3
Balance of payments 34 International tourism 10
Bank and trade-related lending 4 Long-term debt 4
Budget 15 Merchandise 4
Changes in net 4 Merchandise imports 4
Commercial service 4 Micro 4
Commercial service imports 4 National accounts 100
Companies 29 Natural gas 8
Currency 11 Net current transfers 4
Current account balance 5 Net current transfers from abroad 6
Current transfers 4 Net errors and omissions 4
Debt 74 Net financial flows 20
Economic aid 3 Net income 4
Electricity 8 Net income from abroad 6
Entrepreneurship 12 Net incurrence of liabilities 3
Exports 3 Net trade in goods 4
External balance on goods and services 7 Net trade in goods and services 4
External debt 215 Official development assistance and official aid 4
Final 20 Oil 10
Financial sector 28 Portfolio investment 12
Foreign aid 43 Poverty 24
Foreign direct investment 10 Poverty and inequality 5
GDP 42 Private investment 3
GDP growth 3 Private nonguaranteed debt 4
GDP per capita 4 Public and publicly guaranteed debt service 6
GNI 12 Public and publicly guaranteed (PPG) debt 3
Gold 4 Purchasing power parity 11
Goods 4 Reserves 6
Goods imports 4 Retail 3
Government 12 Royalty and license fees 4
Government debt 8 Savings 44
Government spending 5 Service 4
Gross capital formation 10 Service imports 4
Gross domestic savings 6 Services 10
Gross fixed capital formation 10 Spending 73
Gross national expenditure 9 Stock of direct foreign investment 6
Gross savings 6 Tax 64
Gross value added at factor cost 9 Total 9
High-technology 4 Total debt service 6
Household final 23 Tourism 21
IBRD loans and IDA credits 4 Tourism expenditures 5
Income 24 Tourism receipts 5
Income distribution 4 Tourist arrivals by region of origin 7
Income payments 4 Trade 1269
Income receipts 4 Trademark applications 4
Inequality 8 Use of IMF credit 4
Inflation 9