Algeria's exports register big drop on weak oil price
Wednesday, 22 July 2009
ALGIERS, July 21 (AFP): Algerian exports plunged by almost half in the first six months of 2009, hit hard by the fall in the oil price, official figures showed yesterday.
Exports dropped by 46.47 per cent to 20.7 billion dollars (14.5 billion euros), according to the Customs National Centre for Information and Statistics.
The price of oil was on average 52 dollars a barrel between January and June, compared to around 110 dollars on average in the first six months of 2008, the centre said.
Oil and gas are Algeria's main exports, representing 97.18 per cent of the total.
Imports showed a slight increase to 4.04 per cent compared to the first half of 2008 and came to 19.7 billion dollars, the centre said.
European Union countries are the main trading partners of the North African state.
Algeria's biggest customers are the United States followed by Italy, and France is the biggest importer.
Exports dropped by 46.47 per cent to 20.7 billion dollars (14.5 billion euros), according to the Customs National Centre for Information and Statistics.
The price of oil was on average 52 dollars a barrel between January and June, compared to around 110 dollars on average in the first six months of 2008, the centre said.
Oil and gas are Algeria's main exports, representing 97.18 per cent of the total.
Imports showed a slight increase to 4.04 per cent compared to the first half of 2008 and came to 19.7 billion dollars, the centre said.
European Union countries are the main trading partners of the North African state.
Algeria's biggest customers are the United States followed by Italy, and France is the biggest importer.