Algeria Balance of Payments

Algeria Country Studies index

Algeria - Balance of Payments

Balance of payments

The surpluses of the balance of payments in the 1970s resulted from high levels of hydrocarbon exports, considerable foreign borrowing by the government, and healthy remittances by Algerian workers abroad. The surplus slipped into deficit in the early 1980s, however, as the government decided to ease import restrictions, suspend foreign borrowing temporarily, and repay its external debt more rapidly. The 1986 drop in the world oil price decreased revenues from hydrocarbon sales, while imports of agricultural products were increasing in response to growing domestic demand; the combination of factors further worsened the balance of payments.

Algeria's balance of payments began to improve in 1988, largely because of an unexpected rise in oil prices. However, the price of, and demand for, imports continued to grow, and the government's interest payments on its foreign debt rose from US$1.5 billion in 1988 to nearly US$2 billion in 1989.

You can read more regarding this subject on the following websites:

Algeria | Balance of Payments (BoP): Current Account
Balance of payments - Algeria - import, export, growth
Algeria - Balance of payments (billion $ US) - 2016
Algeria Balance of Payments -
Algeria Balance of Trade | 1992-2018 | Data | Chart

Algeria Country Studies index
Country Studies main page