OBG highlights Financial Position in Algeria in 2011
The journal Oxford Business Group (OBG) highlights in its latest edition,the strengthening financial position of Algeria in 2011, thanks to a sharp increase in exports during this year.
Source : https://www.marocafrik.com/english/OBG-highlights-...
Based on figures Algerian Customs, the magazine said in an article entitled "Algeria: growth at all levels", the volume of exports was higher than imports throughout the year, thereby strengthening the financial position of Algeria, APS reports.
"The annual surplus in the trade balance reached 20 billion euros in 2011, representing annual growth of 62.4%," reports the International Office of Intelligence.
"The increase in export earnings is largely the result of better performance of oil and gas sector. Although the volume of oil exports showed a slight decrease (-4.89%) in 2011, rising world prices oil supported the economy in general,"writes OBG and also that exports of oil and gas should continue to grow in 2012.
The magazine also devotes a large part of the report to non-oil exports, stating that " the diversification strategy of the country is slowly beginning to bear fruit. For example, the non-oil exports, although they currently represent less than 3 % of total exports, have grown steadily in 2011, continuing an upward trend since 2009. "
Citing figures from the Ministry of Commerce,OBG says in this context that the non-hydrocarbon exports generated 1.2 billion euros over the first three quarters of 2011, an increase of over 40% year on year.
The export of agricultural products is expected to grow further in favor of subsidies andIncentive programs established by the government to boost agricultural production and investment, OBG also mentions promising exports including phosphate production reached 10,870 tons and generated 67.3 million euros in revenues between January and September 2011.
"The annual surplus in the trade balance reached 20 billion euros in 2011, representing annual growth of 62.4%," reports the International Office of Intelligence.
"The increase in export earnings is largely the result of better performance of oil and gas sector. Although the volume of oil exports showed a slight decrease (-4.89%) in 2011, rising world prices oil supported the economy in general,"writes OBG and also that exports of oil and gas should continue to grow in 2012.
The magazine also devotes a large part of the report to non-oil exports, stating that " the diversification strategy of the country is slowly beginning to bear fruit. For example, the non-oil exports, although they currently represent less than 3 % of total exports, have grown steadily in 2011, continuing an upward trend since 2009. "
Citing figures from the Ministry of Commerce,OBG says in this context that the non-hydrocarbon exports generated 1.2 billion euros over the first three quarters of 2011, an increase of over 40% year on year.
The export of agricultural products is expected to grow further in favor of subsidies andIncentive programs established by the government to boost agricultural production and investment, OBG also mentions promising exports including phosphate production reached 10,870 tons and generated 67.3 million euros in revenues between January and September 2011.
Source : https://www.marocafrik.com/english/OBG-highlights-...