Algeria is the largest country in Africa and the most populous in the Maghreb region. The vast country is the leading gas producer in Africa and the second largest gas supplier for Europe. It is one of the three largest oil producers in Africa.

Considerable oil and gas revenues together with economic opening, liberalisationand privatisation have created constant GDP growth in most of the past few years.

With a GDP of US$ 267 billion in 2023, Algeria is the economic powerhouse on the African continent, ranking fourth after Egypt, South Africa and Nigeria.

Strong demand for gas, especially from Europe, and high world market prices for energy raw materials are currently giving the North African country a good economic starting position. In 2023, the state-owned oil and gas company Sonatrach achieved unprecedented export revenues of around US$ 50 billion.

Foreign trade with positive balance

Oil and gas continue to determine Algeria's exports and thus its trade balance. High world market prices have ensured a significant surplus in 2023. Algeria's exports amounted to US$ 55.5 billion in 2023, while imports accounted for US$ 38.7 billion. Thus, the trade balance was clearly positive in 2023, amounting to US$ 16.8 billion. 

Algeria is a major importer of capital and consumer goods. At the same time, diversification efforts are showing results.