20/07/2006
Algeria's balance of payments grew 95 per cent from an $11.12 billion to $21.72 billion surplus from 2004 to 2005, the Bank of Algeria reported on Tuesday (18 July). The balance of payments benefited from soaring hydrocarbons proceeds, which constitute 95 per cent of total exports. Hydrocarbons exports reached $45.49 billion in 2005, compared to $31.55 billion in 2004. Other exports stood at $790m in 2005, compared to $670 million in 2004.
The Algerian trade surplus is being used to pay debts, finance economic growth support programmes, meet growing social demands, and develop infrastructure to attract investments in non-oil sector areas. (La Tribune, Liberte, APS)