Algeria’s trade surplus shrank by 21.5% y/y to USD 2.59bn in February 2013 as imports grew while exports declined, the statistics office Centre Natioanl de l’Informatique et des Statistiques (CNIS) said in a monthly bulletin. Imports expanded by 17.91% y/y to USD 3.65bn, while exports contracted by 2.32% y/y to USD 6.25bn in February.
Higher imports came on the back of a 25% y/y jump in food products to USD 690mn, a 23% increase in production inputs to USD 1,17bn and a 18% rise in non-food consumer goods to USD 715mn. The drop in exports was mainly due to lower hydrocarbon exports down by 3.9% y/y to USD 6.05bn, while Algeria’s non-oil exports put on a 105% jump in February to USD 197mn.
Algeria’s top customer in February 2013 was Italy taking up USD 1.07bn of exports, followed by Spain (USD 1.02bn), France (USD 690mn), the Great Britain (USD 621mn) and the Netherlands (USD 435mn). On the other hand, China was lead importer to Algeria with USD 499mn in imports, followed by France (USD 442mn) and Spain (USD 356mn).
Turkish President Recep Tayyip Erdogan has warned the Iraqi Kurds that it is in their interests to call off their planned September 25 independence referendum because it “may lead to a process that ... more
Russia’s Rosneft is exploring the possibility of building a 30bn cubic metre (bcm) pipeline that would from 2020 deliver natural gas supplies from the Iraqi Kurdistan region to Turkey and ... more
An image of a ‘Produced in Iran’ fruit juice brand aboard a Qatar Airways flight might not appear at all exciting but to Iranians discussing the trade opportunities generated for the Islamic ... more