Algeria | BACB

Algeria

People's Democratic Republic of Algeria

Key facts

  • Capital: Algiers
  • Population: 41 million
  • Area: 2.4 million sq km (919,595 sq miles)
  • Major languages: Arabic, French, Berber
  • Major religions: Islam
  • Currency: Dinar

Algeria is a large, predominantly Muslim country of North Africa. From the Mediterranean coast, along which most of its people live, Algeria extends southward deep into the heart of the Sahara, a forbidding desert where the Earth’s hottest surface temperatures have been recorded and which constitutes more than four-fifths of the country’s area. The Sahara and its extreme climate dominate the country.

Economy

Algeria’s economy is dominated by its export trade in petroleum and natural gas, commodities that, despite fluctuations in world prices, annually contribute roughly one-third of the country’s gross domestic product (GDP). Until 1962 the economy was based largely on agriculture and complemented France’s economy. Since then the extraction and production of hydrocarbons have been the most important activity and have facilitated rapid industrialisation. The Algerian government instituted a centrally planned economy within a state socialist system in the first two decades after independence, nationalising major industries and implementing multiyear economic plans. However, since the early 1980s the focus has shifted toward privatisation, and Algeria’s socialist direction has been modified somewhat. Standards of living have risen to those of an intermediately developed country, but food production has fallen well below the level of self-sufficiency.

Imports & exports

Virtually all of Algeria’s foreign-exchange earnings are derived from the export of petroleum and natural gas products, both of which are refined domestically at an increasing rate. Other exports include phosphates, vegetables, dates, tobacco, and leather goods.

The major imports are capital goods and semifinished products, consisting mostly of industrial equipment and consumer goods, followed closely by foodstuffs. About two-thirds of all trade is with countries of the European Union, and the United States is next in importance.

BACB's Trade Finance Expertise in Algeria

With more than 20 years' history of supporting trade there, BACB's International Trade Finance expertise is unrivalled in Algeria. In partnership with our representative office in Algiers, our locally-recruited team provide intimate knowledge and expertise of the Algerian market.

This expertise is supported by in our London office where many of our people are multi-lingual, or native to the countries where we do business.

To find out more about how we can help with your Trade Finance requirements in the Algerian market please contact our friendly team today on +44 20 7648 7777, or make an enquiry below.

BACB Local Representative Offices

Algeria

Tour Algeria Business Center
12 Eme Etage
Pins Maritimes
El Mohammadia
16212 Algiers

Rep: Abdelaziz Izri

Phone: +213 21 89 14 34

Fax: +213 21 89 14 36

Email: abdelaziz.izri@bacb.co.uk

Cô​​te D'ivoire

15 bis, Avenue Franchet d'Esperey
Immeuble Ollo
1er Etage Escalier B
Abidjan – Plateau
Cô​​te D'Ivoire

Rep: Patrick Porquet

Phone: +225 20 20 24 88

Email: patrick.porquet@bacb.co.uk

Libya

Floor 11
Office no. 111
PO Box 91051
Tripoli

Rep: Abdulhadi Attoghar

Phone: +218 21 335 1489

Fax: +218 21 335 1732

Email: abdulhadi.attoghar@bacb.ly

Latest news from BACB