Algeria’s trade balance swings to $341mn deficit in January-February on falling exports

By bne IntelliNews March 22, 2015

Shrinking exports, mainly of hydrocarbons, continue to constrain Algeria’s foreign trade parameters with the overall balance recording a $341mn deficit in the first two months of 2015, swinging from a $1.71bn the year before, the state APS news agency reported, citing the National Centre for Informatics and Statistics. In January, the trade balance reported a $483mn surplus, meaning Algeria’s trade balance worsened sharply in February. The pattern will continue in H1 2015, weighing further on Algeria’s current account balance and budget proceeds.

Exports dropped 28.6% y/y (down 11.1% y/y in January) to $7.72bn in the first two months of the year while imports fell 11.4% y/y to $8.06bn.

Hydrocarbon exports shrank by a worrying 30.3% y/y to $7.24bn at end-February, accounting for 94% of total exports on declining crude oil prices.

Falling energy income will cut Algeria’s ability to cope with rising spending needs in 2015 despite the ample buffer accumulated in recent years.

Earlier in March, central bank governor Mohammed Laksaci said that Algeria’s trade surplus plunged to just $590mn in 2014 from $9.73bn the year before, in the lowest reading since 1998. Total exports reached $60.04bn last year while imports totalled $59.44bn, according to Laksaci. 

Related Articles

Turkish Airlines' share price falls further after UK follows US with electronics flight ban

The share price of Turkish Airlines (THY) was down 2.88% by the end of trading on March 21 after the UK joined the US in banning electronic devices larger than smartphones in hand luggage on flights ... more

Turkish Airlines' share price slides after US bans electronic devices on flights

Flag carrier Turkish Airlines (THY) saw its share price fall 1.69% on March 21 after confirming it is among the nine airlines affected by a US cabin baggage ban on large electronic devices on flights ... more

Iran, Syria sign raft of memoranda and deals

Following the purge of foreign-backed rebels in the devastated Syrian city of Aleppo by Iranian, Lebanese and Russian forces, Damascus’s prime minister Imad Khamis was in Tehran to sign five ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss