Algeria Economic Forecast

In Algeria, nearly 60 percent of the country’s budget earnings come from the oil sector; 95 percent from export revenues, and 30 percent from GDP. Algeria currently has the eighth largest natural gas reserve in the world.

Although the country has faced economic challenges; sustained high oil and gas prices have helped the economy improve.

In addition to oil and gas reserves, Algeria has maintained a significant surplus of trade imports and exports, as well as built substantial reserves for foreign exchange.

In Algeria, nearly 60 percent of the country’s budget earnings come from the oil sector; 95 percent from export revenues, and 30 percent from GDP. Algeria currently has the eighth largest natural gas reserve in the world.

Although the country has faced economic challenges; sustained high oil and gas prices have helped the economy improve.

In addition to oil and gas reserves, Algeria has maintained a significant surplus of trade imports and exports, as well as built substantial reserves for foreign exchange.

Algeria GDP Forecast

Algeria’s GDP in 2010 was US$ 158.969 billion, growing 3.843 percent and is expected to increase to US$ 171.606 billion in 2011. 2015 forecasts predict Algeria’s GDP will reach US$ 211.499 billion growing 3-5 percent per year between 2010 and 2015.

 
A large portion of Algeria’s economy is driven by the industrial sector; extraction and processing of gas and natural oil. Recent data shows 60 percent of the country’s labor force is employed in the services sector and governance.

Algeria Population & Labor Forecast

In 2010, Algeria’s population was recorded at 35.502 million with an unemployment rate of 10 percent.  Forecasts for 2015 predict Algeria’s population will increase to 38.245 million with unemployment decreasing to 8.429 percent.

 
Unfortunately, 23 percent of people in Algeria live below the poverty line. Poverty and unemployment is attributed to high growth in population and other related problems. While significant efforts have been made to improve the unemployment rate for Algeria, and some positive changes have occurred, the country continues to struggle in this area.

Algeria Inflation Rate & Current Account Balance Forecast

Algeria’s inflation rate in 2010 was 5.253 percent, 3.81 percent lower than the previous year and is expected to reduce a further 3.96 percent in 2011 to 5.053 percent. 2015 forecasts predict Algeria’s inflation rate to shrink to 4.453 percent.

 
Algeria’s account balance in 2010 was US$ 5.374 billion, increasing 15.37 percent from the previous year and is expected to increase by 18.16 percent to US$ 6.2 Billion in 2011. 2015 forecasts predict Algeria’s current account balance to increase significantly to US$ 14.906 billion, growing 703.04 percent between 2009 and 2015.