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Algeria energy total earnings go up 15 pct in with rise in oil prices


Devdiscourse News Desk Algeria
Updated: 09-02-2019 21:15 IST
Algeria energy total earnings go up 15 pct in with rise in oil prices

Image Credit: Wikipedia

Algeria's energy earnings rose 15.27 per cent in 2018 from the previous year due to higher global oil prices, the government said on Saturday. Stronger revenues helped to reduce the OPEC member's trade deficit by 53.73 per cent to $5.03 billion in 2018, according to customs figures.

Oil and gas exports, which accounted for 93.13 per cent of total sales abroad, reached $38.34 billion, up from $33.26 billion in 2017, the figures showed. The overall value of exports stood at $41.17 billion compared with $35.19 billion in 2017. Imports rose 0.3 per cent to $46.20 billion in 2018, the customs data showed. Algeria has failed to reduce spending on imports despite import restrictions on some goods, including foodstuffs.

(With inputs from agencies.)

COUNTRY : Algeria

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