Algeria

Algeria

The fossil fuels energy sector is the backbone of Algeria's economy, accounting for roughly 60% of budget revenues, 30% of GDP, and over 95% of export earnings. The country ranks 14th in Petroleum reserves, containing 11.8 billion barrels of proven oil reserves with estimates suggesting that the actual amount is even more. The Energy Information Administration reported that in 2005, Algeria had 160 trillion cubic feet (Tcf) of proven natural gas reserves, the 8th largest in the world.

 

Algeria’s financial and economic indicators improved during the mid-1990s, in part because of policy reforms supported by the International Monetary Fund (IMF) and debt rescheduling from the Paris Club.

 

The government's continued efforts to diversify the economy by attracting foreign and domestic investment outside the energy sector has had little success in reducing high unemployment and improving living standards. In 2001, the government signed an Association Treaty with the European Union that will eventually lower tariffs and increase trade.

 

Total GDP: $232.9 billion (2008 est.)

 

GDP Growth Rate: 3.5% (2008 est.)

 

GDP Per Capita: $6,900 (2008 est.)

 

Population: 34,178,188 (July 2009 est.)

 

Population Growth Rate: 1.196% (2009 est.)

 

Fertility Rate: 1.79 children born/woman (2009 est.)

 

Age Structure:

0-14 years: 25.4% (male 4,436,591/female 4,259,729)

15-64 years: 69.5% (male 11,976,965/female 11,777,618)

65 years and over: 5.1% (male 798,576/female 928,709)

(2009 est.)

 

Source: CIA World Factbook