Algeria trade surplus down 27 percent in 2002
Algeria has posted a $6.6 billion foreign trade surplus in fiscal year 2002, representing a 27 percent drop from the $9.1 billion surplus reported the previous year. Algeria’s trade balance, while still positive, is minimal, due to a higher import bill for foodstuffs, spare parts and consumer goods.
According to the Algerian Customs Service, the North African state purchased $11.7 billion worth of imports in 2002, up 18.2 percent over the $9.9 billion brought in the previous year. Some 22.5 percent of these imported goods and merchandise originated from France, 16.2 percent were shipped inform Italy and 9.6 percent came from the United States.
At the same time, Algeria’s exports—97 percent of which are made up of oil and gas products—dropped 3.7 percent to $18.4 billion in 2002, from $19.1 billion in 2001. The principal purchaser of Algerian products is Italy, followed by France and the US. — (menareport.com)
© 2003 Mena Report (www.menareport.com)