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REUTERS
OPEC member Algeria’s trade deficit widened to $10.83 billion in the first six months of 2016, 27.2 percent more than in the same period last year due to a fall in energy earnings as oil prices tumbled, data showed. Oil and gas exports, which accounted for 93.55 percent of Algeria’s sales abroad, dropped 33.6 percent to $11.86 billion in the first half, the customs figures showed.
The overall value of exports during the period fell 33.02 percent to $12.68 billion, while imports declined 14.35 percent to $23.51 billion in the January-June period this year, the figures showed. Algeria has been trying to reduce its imports bill in a bid to counter the loss in energy revenues since world oil prices began falling in June 2014.