about 30% of
government revenues, and nearly 25% of GDP. In 1973-74 the sharp increase in
oil prices led to a booming economy and helped to finance an ambitious
program of industrialization. Plunging oil and gas prices, combined with the
mismanagement of Algeria's highly centralized economy, has brought the
nation to its most serious social and economic crisis since independence in
1988. The government has promised far-reaching reforms, including
privatization of some public- sector companies, encouraging private-sector
activity, boosting gas and nonhydrocarbon exports, and proposing a major
overhaul of the banking and financial systems, but to date it has made only
limited progress.
GDP:
exchange rate conversion - $54 billion, per capita $2,130; real growth rate
2.5% (1990 est.)
Inflation rate (consumer prices):
30% (1991 est.)
Unemployment rate:
30% (1991 est.)
Budget:
revenues $16.7 billion; expenditures $17.3 billion, including capital
expenditures of $6.6 billion (1990 est.)
Exports:
$11.7 billion (f.o.b., 1991 est.)
commodities:
petroleum and natural gas 97%
partners:
Netherlands, Czechoslovakia, Romania, Italy, France, US
Imports:
$9 billion (f.o.b., 1991 est.)
commodities:
capital goods 29%, consumer goods 30%
partners:
France 25%, Italy 8%, FRG 8%, US 6-7%
External debt:
$26.4 billion
Industrial production:
growth rate --3% (1989 est.); accounts for 30% of GDP, including petroleum
Electricity:
6,380,000 kW capacity; 16,700 million kWh produced, 640 kWh per capita
(1991)
Industries:
petroleum, light industries, natural gas, mining, electrical, petrochemical,
food processing
Agriculture:
accounts for 11% of GDP and employs 24% of labor force; net importer of food
- grain, vegetable oil, and sugar; farm production includes wheat, barley,
oats, grapes, olives, citrus, fruits, sheep, and cattle
Economic aid:
US commitments, including Ex-Im (FY70-85), $1.4 billion; Western (non-US)
countries, ODA and OOF bilateral commitments (1970-89), $925 million; OPEC
bilateral aid (1979-89), $1.8 billion; Communist countries (1970-89), $2.7
billion; net official disbursements (1985-89), --$375 million
Currency:
Algerian dinar (plural - dinars); 1 Algerian dinar (DA) = 100 centimes
Exchange rates:
Algerian dinars (DA) per US$1 - 21.862 (January 1992), 18.473