Algeria is the largest country in Africa and the most populous in the Maghreb region. The vast country is the leading gas producer in Africa and the second largest gas supplier for Europe. It is one of the three largest oil producers in Africa.

Considerable oil and gas revenues together with economic opening, liberalisationand privatisation have created constant GDP growth in most of the past few years.

With a GDP of US$ 195 billion in 2022, Algeria is the economic powerhouse on the African continent, ranking fourth after Nigeria, Egypt and South Africa.

Strong demand for gas, especially from Europe, and high world market prices for energy raw materials are currently giving the North African country a good economic starting position. In 2022, the state-owned oil and gas company Sonatrach achieved unprecedented export revenues of around US$ 60 billion.

The state budget also benefits from this. According to estimates by the Economist Intelligence Unit (EIU), GDP growth is expected to be around 3 per cent in 2023.

Foreign trade with positive balance

Oil and gas continue to determine Algeria's exports and thus its trade balance. High world market prices have ensured a significant surplus in 2022. Algeria's exports amounted to US$ 65.1 billion in 2022, while imports accounted for US$ 38.7 billion. Thus, the trade balance was clearly positive in 2022.

Algeria is a major importer of capital and consumer goods. At the same time, diversification efforts are showing results.