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October 20, 2022 | 1 year ago

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The Government is working to increase non-hydrocarbon exports to USD 10 billion by 2023

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In a speech at the opening of the Export Forum organized by the Council of Algerian Economic Renewal (CREA) under the patronage of President of the Republic, Mr. Abdelmadjid Tebboune, Mr. Benabderrahmane stressed that "by combining efforts, we will be able to increase the volume of our non-hydrocarbon exports to USD 10 billion at the end of 2023".

Mr. Benabderrahmane recalled that the value of non-hydrocarbon exports was $5 billion until 30 September last year, the same volume recorded in 2021, which testifies to the continuation of reforms in the country's foreign trade.

Non-hydrocarbon exports are on track to reach $7 billion by the end of the current year, he added, stressing that "Algeria is moving, within the framework of the new economic approach, in firm steps and in a more realistic way, towards the diversification of the national economy, through which we aspire to lay the solid foundations of a new strong and sustainable national economy, free from dependence on hydrocarbon revenues".

In this context, he pointed out that the reforms in the foreign trade sector have led to a reduction of importers from 43,000 to 13,000 at present, and at the same time an increase in the number of exporters from 200, mostly illegal, to more than 3,000 registered exporters, including 1,500 exporters carrying out effective export operations.

October 20, 2022 | algeria-logo

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