Algeria-SANA
The Algerian Ministry of Finance announced a decrease in the country's trade deficit by 87.9 percent to reach $926 million since the beginning of the year until last August, in light of the rise in oil and gas revenues and the decline in imports.
The Algerian Ministry of Finance said in a statement today, "The total value of exports rose to $23.7 billion during the period from January to August of this year, after it was $151 billion in the same period of the previous year, while imports declined sharply during the first eight months."
Algeria is working to reduce the proportion of imports to reduce the trade deficit.
Algeria's oil and gas revenues represent about 90 percent of its total exports and 60 percent of its budget.
The state-owned Sonatrach Oil and Gas Company expects oil and gas revenues to rise to 33 billion dollars this year from last year, when revenues amounted to 20 billion dollars, thanks to the rise in crude oil prices in international markets.
