|07 January, 2020

Lower energy revenue deepens Algeria trade deficit

The OPEC member and gas exporter has been trying to cut spending on imports after a sharp drop in energy revenue.

ALGIERS- Algeria's energy earnings dropped 14.65% in the first 11 months of 2019, widening the trade deficit to $5.75 billion, up 48% from a year earlier, customs data showed on Tuesday.

The OPEC member and gas exporter has been trying to cut spending on imports after a sharp drop in energy revenue.

The value of oil and gas exports reached $30.25 billion, accounting for 92.76% of total sales abroad. Those exports compared with $35.45 billion in the first 11 months of 2018.

Overall exports stood at $32.62 billion, against $38.12 billion during the same period of 2018, while imports fell by 8.66% to $38.37 billion in the January-November period of 2019.

(Reporting by Hamid Ould Ahmed Editing by David Goodman) ((hamid.ouldahmed@thomsonreuters.com;))

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