Algeria: sharp drop in exports in the first half of 2009

ALGIERS- Algeria exported 24.695 billion dollars during the first seven months of 2009, against $ 47.369 billion during the same period of 2008, a decrease of 47.87%, said Sunday the National Centre for Informatics and Statistics (CNIS).

•     From January to July 2009, Algeria imported $ 23.246 billion against $ 22.516 billion during the same period in 2008, an increase of 3.24%, said the agency CNIS to the Algerian press agency APS.
  
      During this period, the trade balance of Algeria has recorded a surplus of 1.449 billion dollars against 24.853 billion from January to July 2008, according to the CNIS.
  
      Algerian exports are made up to 97.06% of hydrocarbons, said CNIS.
  
      The imports are mainly capital goods industry (37.96%), semi-finished products (25.67%) and food (15.98%), consumer goods (15.74%), raw products (3%), energy products and lubricants (1.17%) and agricultural equipment goods (0.49%), according to the CNIS.
  
       In addition, imports of Algeria have reached $ 3.03 billion in July 2009, a decrease of 15.21% over the same months of 2008.
  
      Exports fell by 54.11% to $ 3.98 billion in July 2009 over the same period in 2008, added the CNIS.
  
       Algeria ended in July a series of measures to reduce imports by 5% in 2009 including in particular the prohibition of vehicle credit and consumer credit and the establishment of documentary credits as the sole means of payment imports.
  
      Ennaharonline/ M. O.