Algeria's trade deficit hit 4.13 billion of dollars in the first 11 months of 2018, compared to 10.55 billion of dollars in the same period of the previous year, registering a decline of 6.42 billion of dollars, or 60 percent, according to the Algerian Customs Figures.
The trade deficit was driven by a rise in exports accounting for $37.25 billion, against $31.59 billion last year, thus registering an increase of $5.64 billion, or 17.86 percent. This rise was benefiting from the rise in oil prices, accounting for 96 percent of Algeria's exports.
Meanwhile, Imports fell slightly to $41.37 billion against $42.14 billion in the previous year, a drop of $776 million.
Algeria has imposed import restrictions in an effort to cut spending after a drop in energy revenues since 2014, with imports of locally manufactured materials subject to an additional tax ranging between 30 to 200 percent.
Source: (Al-Arabi Al-Jadeed Newspaper, Edited)
