China is now Algeria’s largest trade supplier, France ranks second
China has marked its position as the largest trade supplier of Algeria in 2018.
The report released by the Algerian Customs states that the country imported from China goods and services worth USD 7.85 billion in the previous year, representing 17 percent of the total import of the North African nation.
China has remained the top exporter to Algeria for the past six years, it added. France is the second largest exporter to Algeria with USD 4.78 billion, followed by Italy (USD 3.65 billion), Spain (USD 3.53 billion) and Germany (USD 3.18 billion), Xinhua reported.
However, Algeria witnessed a 53.73-percent decline in its trade deficit to USD 5.03 billion in the previous year, against USD 10.87 billion in 2017, the reported noted.
The decrease in trade deficit is the result of improved oil prices combined with the policy of restricting import adopted since the beginning of 2017 by the Algerian government, the report said.
The report further stated that Algeria's exports amounted to USD 41.16 billion in 2018, up 16.98 percent from 2017.
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