Economy In Algeria

The hydrocarbons sector is the backbone of the economy, accounting for roughly 60% of budget revenues, 30% of GDP, and over 95% of export earnings. Algeria has the seventh-largest reserves of natural gas in the world and is the second-largest gas exporter; it ranks 14th in oil reserves. Economic policy reforms supported by the IMF and debt rescheduling from the Paris Club in the past decade have helped improve Algeria`s financial and macroeconomic indicators. Because of sustained high oil prices in the past three years, Algeria`s finances have further benefited from substantial trade surpluses and record foreign exchange reserves. Real GDP has risen due to higher oil output and increased government spending. The government`s continued efforts to diversify the economy by attracting foreign and domestic investment outside the energy sector, however, has had little success in reducing high unemployment and improving living standards. Structural reform within the economy moves ahead slowly.

GDP	purchasing power parity - $196 billion (2004 est.)
GDP - real growth rate	7.4% (2004 est.)
GDP - per capita	purchasing power parity - $6,000 (2004 est.)
GDP - composition by sector	agriculture: 10.2% industry: 56.5% services: 33.4% (2004 est.)
Investment gross fixed	24.8% of GDP (2004 est.)
Population below poverty line	23% (1999 est.)
Distribution of family income - Gini index	35.3 (1995)
Labor force by occupation	agriculture 14%, industry 13.4%, construction and public works 10%, trade 14.6%, government 32%, other 16% (2003 est.)
Electricity production	24.69 billion kWh (2001)
Electricity exports	340 million kWh (2001)
Electricity imports	275 million kWh (2001)
Natural gas production	80.3 billion cu m (2001 est.)
Natural gas imports	0 cu m (2001 est.)
Natural gas proved reserves	4.739 trillion cu m (2004)
Imports	$12.42 billion f.o.b. (2003 est.)
Currency	Algerian dinar (DZD)
Currency code	DZD
Exchange rates	Algerian dinars per US dollar - 77.395 (2003), 79.6819 (2002), 77.215 (2001), 75.2598 (2000), 66.5739 (1999)
Fiscal year	calendar year