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Algerian customs data for the first two months of 2016 show that the country’s earnings from oil and gas exports are on target to be just 40% of 2014 levels.
Total exports for the first two months of 2016 were worth just $4.19bn, $25.6bn on an annualized basis, down from $62.9bn for 2014 and $37.8bn for 2015 (see table).
Though the value of imports is also down, as a strong dollar reduces the cost in dollar terms of imports from key suppliers China and the EU, the country is on course to rack up a record trade deficit of $20.3bn, almost 50% higher than 2015’s record $13.7bn (see chart 1 and MEES, 29 January).
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