Search within this web site:

 
you are here ::

Algeria, Economy

While Algeria is one of the wealthiest nations of Africa, declining oil prices reduced the annual income per capita to $1,580 in 2000, down from $2,360 in 1988. Agriculture plays a declining but still important role in the Algerian economy. Mineral, especially hydrocarbon, production accounts for the largest part of the gross domestic product (GDP). Since the late 1960s the government has instituted major industrialization programs. The inflation rate averaged 19.5 percent annually in the period from 1990 to 2000. GDP, which measures the total value of goods and services produced, was $53.3 billion in 2000. Economic growth is highly influenced by oil and natural gas prices. The GDP grew an average of 1.87 percent annually in the period from 1990 to 2000.

deeper links ::
 
 

Search within this web site: