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November 27, 2024 | 1 month ago

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Production of $37 billion by 2024: figures still rising

“Agriculture produced $37 billion this year, which bodes well for the future and is the right approach for our country to free itself from dependence on hydrocarbons”.

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President Abdelmadjid Tebboune, speaking at the 50th anniversary of the creation of the National Union of Algerian Farmers (UNPA), revealed that agriculture accounts for 15% of GDP, while industry accounts for only 5%. In 2023, agricultural production will reach 35 billion dollars, representing 18% of GDP. However, in 2024, although agricultural products increased by $2 billion, its contribution to GDP fell to 15% due to the significant increase in overall GDP.

Agriculture in Algeria has developed considerably in recent years, despite climatic challenges. The sector has performed well and continues to grow thanks to significant investments. In 2024, the agricultural industry is expected to grow by 6.1%, up from 2.8% in the previous year.

Investment in Saharan agriculture is also on the rise, with major projects such as the $3 billion Baladna project in Adrar and a $400 million Italian project in Timimoun to improve cereal production. These initiatives transform the Saharan regions into centres of agricultural excellence, attracting local and foreign investment and creating numerous jobs.

November 27, 2024 | algeria-logo

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