Algeria Reports Huge Surplus

Algeria reported a massive balance of trade a surplus of USD 10.83 bln in 2003, the national statistics office announced.

Thus, Algeria's traditional surplus on the balance of external trade, generated by hydrocarbon exports, grew massively by 46.4%, underpinned by the growth of oil prices throughout 2003. Exports reached USD 23.84bn last year, recording an increase of 26.62% y/y, while imports increased by 8.32% to USD 13bn. The value of hydrocarbon export was USD 23.17bn in 2003 against USD 18.09bn the previous year.