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Algeria Non-Oil Exports Surge 41%

25/01/2012 07:55

Algeria’s non-oil exports soared by 41 percent to reach .15 billion in 2011 according to the National Statistical Information Center.  Non-oil exports were alt="" itemprop="image" src="http://englishstatic.nuqudy.com/ArticleImages/Size1/AlgeriaFlag.jpg" style="float: left; vertical-align: text-top; margin-right: 10px; margin-bottom: 10px; " title="" />Algeria’s non-oil exports soared by 41 percent to reach $2.15 billion in 2011 according to the National Statistical Information Center.  Non-oil exports were $1.52 billion in 2010, which represented another remarkable increase of 52 percent from 2009.
.52 billion in 2010, which represented another remarkable increase of 52 percent from 2009.
 
The center stated that, although this number may seem high, it is actually very low as exports cover only 2.93 percent of net imports. The center added that non-oil export products are mainly fuel derivatives and agricultural products, mainly oils.
 
Other exported products increased dramatically as ammonia surged 91.38 percent to $375 million in 2011 from $195.95 million in 2010, non-periodic alcohol products increased 51.23 percent to $41.77 million, and sugar exports rose 16.54 percent to reach $269.61 million in 2011 compared with $231.35 a year earlier.
 
The Center said that leather was added to the country’s list of non-oil exported products as its exports skyrocketed by 73.31 percent to reach $19.54 million.
 
It is worth noting that Algeria posted a budgetary surplus of $26.93 billion last year, 62.46 percent higher than the 2010 surplus. The country exported $73.39 billion worth of commodities while it imported $46.45 billion.
 
Experts explain the sharp increase in non-oil exports to the country’s investment in petroleum derivatives. Food products also helped boost the country’s exports, increasing 13.02 percent to reach $356 million in 2011 versus $315 million in 2010. The experts said that non-oil exports will maintain their positive trend through 2012 thanks to policies introduced by the government for the purpose of diversifying the national economy and strengthening these exports.  These policies focus primarily on the agricultural sector, which benefits from financial support, long-term bank loans, and the modernization of 200 public organizations in this field.
 
The government has also devised an arsenal of measures to facilitate bank loans and reduce tax costs for small and medium-sized enterprises in all fields.


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Author:    Nuqudy.com
Tags:    Algeria     trade
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