Algeria’s trade surplus fell by 19.4% to $3.9bn in the first half of 2014, from $4.84bn in the corresponding period of 2013, latest official customs statistics show. This comes on the back of a 2.2% fall in the value of hydrocarbon exports to $32.23bn in the first six months of the year.
According to OPEC’s latest Monthly Oil Market Report (MOMR), the average export price for Algerian Saharan Blend crude was $110.09/B for the first half of 2014, up $2.20/B on the same period last year. Given this, the fall in revenue appears to indicate that export volumes fell by close to 5%. Hydrocarbon exports revenue represents around 96% of total exports. (CONTINUED - 231 WORDS)