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October 26, 2024 | 2 months ago

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Algeria: Foreign trade trends for the 1st half of 2024

Algeria's foreign trade in goods recorded a fall in export and import prices in the first half of 2024. Compared with the same period of the previous year, export prices fell by 6.0%, while import prices dropped by 6.9%. This information comes from a report published by the Office National des Statistiques (ONS) on foreign trade unit value indices for the first half of 2024.

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The 5.5% drop in hydrocarbon prices, representing most Algerian exports, led to a contraction in export prices, affecting non-hydrocarbon products with a 10.3% fall. Although exports rose slightly by 0.8%, imports recorded a significant increase of 14.4% in volume.

This situation led to a 45.1% decline in the trade balance compared to 2023, with the import coverage of exports falling from 129.4% to 115.1% in 2024. However, the terms of trade improved slightly from 96.5% to 97.5%.

Import prices fell in most product categories, except for 'machinery and transport equipment', which rose by 0.7%. On the export side, non-hydrocarbon products were particularly affected, especially 'manufactured goods' and 'non-edible raw materials', which fell by 16.6% and 12.6% respectively.

October 27, 2024 | algeria-logo

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