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this Maghreba dynamic crossroads between Africa wait Europeshines with its economic prosperity. This region, made up of Moroccoof Algeriaof Tunisiaof Libya and mauritaniashowing a continuous growth and increasing diversification of its activities. Each country makes its own contribution: Morocco relies on its automotive industry and renewable energy, Tunisia stands out in information technology, and Mauritania is developing its mining sector. At the heart of this economic mosaic, Algeria stands out for its excellent business performance, demonstrating the potential of the entire region.
A trade surplus is a reflection of economic prosperity
Algeria’s economy is in very good shape, as evidenced by the latest trade balance data. In the first seven months of 2024, the country recorded a trade surplus. $3.75 billionThis impressive result is based on exports reaching 30.36 billion USD, Facing imports 26.62 billion. Like a ship sailing confidently in stormy seas, Algeria Maintained growth momentum and emerged from the long-term deficit era after the oil price drop in 2014.
National strategy to consolidate achievements
The Algerian government does not intend to stop there. Taib ZitouniThe Minister of Trade and Export Promotion recently established the External Trade Monitoring Committee. This body is a veritable control tower of the national economy, bringing together representatives from 16 ministries and 12 official agencies. Its mission? To examine trade flows, propose reforms and assess current trade agreements. The goals are clear: Maintain trade balance by stimulating non-hydrocarbon exports and regulating imports to protect local production.
The country’s economic future prospects are bright
Algeria’s economic indicators are green in all respects. Bank of Algeria Report shows positive trade surplus By the end of 2023, it will be US$12.713 billionwhile the balance of payments showed a surplus 6.347 billion. These performances have enabled the country to rebuild its foreign exchange reserves, which currently stand at almost $69 billionor more than 16 months of imports. This comfortable financial cushion far exceeds international recommendations and is a testament to the robustness of the Algerian economy. Like a well-fortified fortress, Algeria Strengthen its position on the global economic stage and open up new opportunities for growth and development across the Maghreb region.
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