Declining Hydrocarbons Exports in Algeria

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CEIC Macro Watch #32 - May 30, 2014 - In the first quarter of 2014 the proceeds from hydrocarbons exports in Algeria shrank by more than 11.1% compared to the same period in 2013. The latest annual data show that crude oil exports declined to 222 million barrels in 2013, down from 250 million barrels a year earlier. Gas exports fell to 32.7 billion cubic meters – a 12% decrease from the previous year. Lower export volumes were also recorded for liquefied petroleum products and liquefied natural gas. Condensates and refined petroleum products were the only hydrocarbons exports which grew in volume terms in 2013 - by 6.1% and 3.9% respectively. Given the excessive reliance of the Algerian economy on earnings from hydrocarbons, the necessity to diversify away from the oil and gas industry and implement reforms in the sector aimed at improving efficiency and fostering competition has sparked much debate over recent years. From 2007 until 2012, less than 6% of the gross output in the hydrocarbons industries was created in the private sector. As of the first quarter of 2014, energy exports accounted for more than 95.6% of total export proceeds. Since 2000, the gross value added of the hydrocarbons production sector has consistently comprised more than 30% of gross domestic product, and revenue arising from hydrocarbons production and sales has accounted for more than 65% of all government receipts. By Stoyan Kiryazov in Bulgaria - CEIC Analyst Discuss this post and many other topics in our LinkedIn Group (you must be a LinkedIn member to participate). Request a Free Trial Subscription. Back to Blog

30th May 2014 Declining Hydrocarbons Exports in Algeria

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