Algeria’s trade surplus in the first eight months of 2014 has fallen by 20.4% to $4.67bn from $5.87bn in the corresponding period of 2013, official customs statistics show.

In 2013 the trade surplus fell to $11.1bn from $21.49bn in 2012. As recently as February the IMF projected only a moderate worsening to $10.4bn this year; the actual numbers for January-August suggest $7bn will be closer to the mark. Algeria posted a $20bn surplus as recently as 2011 (see graph). (CONTINUED - 622 WORDS)