Official figures from Algeria's Ministry of Energy and Mining revealed that Algeria’s revenues from energy rose by 15.23 percent y.o.y in the first seven months of 2018, reducing the trade deficit by 53.5 percent in 2018.
Oil and gas exports represented 22.021 billion dollars in the first six months of 2018 accounting for 93.03 percent of total foreign trade, compared to 19.111 billion a year ago, according to the Algerian figures on customs.
Exports amounted to $23.656 billion in July 2018, compared to $20.205 billion in the previous year, while imports fell down by 1.06 percent reaching $26.908 billion in 2018.
However, after the decline in oil prices in 2014, the Algerian Government has decided to restrict imports on some products in an effort to cut spending.
Source (Reuters – Arabic, Edited)
