Algeria’s energy earnings in first seven months of year halve trade deficit
Algeria’s energy earnings rose 15.23 percent in the first seven months of this year from the same period in 2017, reducing the trade deficit by 53.5 percent, official data seen by Reuters showed on Sunday.
Oil and gas exports, which accounted for 93.09 percent of total sales abroad, reached $22.021 billion, up from $19.111 billion in January-July last year, according to customs figures.
The overall value of exports reached $23.656 billion against $20.205 billion in the first seven months of 2017, while imports fell 1.06 percent to $26.908 billion.
The government has approved import restrictions for some goods in a bid to cut spending after a fall in oil prices since 2014.