Algeria Oil & Gas Revenues Collapse Further

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). (CONTINUED - 580 WORDS)

DATA INSIDE THIS ARTICLE

chart Algeria On Target For $20Bn Deficit In 2016
chart Algeria LNG Exports Fall 5% In 2015 (Mn Tons)
chart Algeria's Oil Output Set To Fall By 190,000 B/D Between 2015 & 2021 ('000 B/D, IEA Forecasts)
table Algeria Customs Figures ($Bn)