External accounts deteriorate as Covid-19 has hit the economy

C4

HIGH RISK for entreprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

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GDP USD 170bn (World ranking 55, World Bank 2019)
Population 43mn (World ranking 34, World Bank 2019)
Form of state Semi-presidential republic
Head of government Abdelmadjid Tebboune (President)
Next elections 2022, legislative
  • Strong hydrocarbon resources, with gas reserves estimated to last a further 54 years at current rates of extraction (and crude oil almost 22 years).
  • Significant potential for renewable solar energy production in Sahara;
  • Large foreign exchange reserves and low levels of external debt mitigate external liquidity tensions;
  • Significant political and social risk, with a divided society;
  • High unemployment (especially youth) and underemployment.
  • Lack of economic diversification. Over-dependence on oil and gas (94% of exports).
  • Banking sector remains dominated by state enterprises that have to absorb losses from State Owned Enterprises.
  • Limited private sector opportunities and perceptions that the business environment (including regulations) is restrictive.
  • Regional dynamics are affected by continued friction;
  • Oil and gas installations are vulnerable to periodic (but localized) attacks by terrorist groups.

Trade structure by destination/origin

(% of total)

Exports Rank Imports
Italy 17%
1
18% China
Spain 13%
2
10% France
United States 13%
3
10% Italy
France 11%
4
8% Spain
Brazil 5%
5
6% Germany

Trade structure by product

(% of total)

Exports Rank Imports
Petroleum, petroleum products and related materials 59%
1
12% Road vehicles
Gas, natural and manufactured 37%
2
7% Other industrial machinery and parts
Inorganic chemicals 1%
3
7% Iron and steel
Fertilizers other than group 272 1%
4
6% Specialised machinery
Sugar, sugar preparations and honey 1%
5
6% Cereals and cereal preparations
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