Algeria GDP to grow 4.5%

The Gross Domestic Product (GDP) in Algeria may grow 4.5 % and reach 18.2 trillion dinars ($227.3 billion) in 2014, compared to last year. This represents an increase of 3 % and 3.3 % against 2012, according to figures released by the Algerian Ministry of Finance.

The growth of the economic sectors unrelated to oil and gas industry is expected to be 5.4% this year against 6.3% in 2013 and 7.1% in 2012. As so, the level of growth forecast for 2014 is mainly due to the evolution in terms of real value added in the hydrocarbon sector (oil and gas), whose share in GDP is expected to advance 2.6% after two consecutive years of decline : -3.9 % in 2013 and -3.4% in 2012 .

The oil and gas is expected to account for 27.5 % of the country’s GDP in 2014, according to projections by the ministry. The government has estimated an increase of 2.1% in exports of hydrocarbons this year.

In the years 2012 and 2013, economic growth in Algeria suffered from the fall in production of oil and gas.

ON the other hand, the agricultural sector is expected to grow 6.4% in 2014, down from 10% in 2013 and 7.2% in 2012. Its share in the GDP is forecast to hit 10.1%.  And finally in the field of construction and public works, Algeria true engine of growth outside the hydrocarbon sector, is forecast to increase 6.8% this year, against 7.8 % in 2013.

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