Algeria’s trade balance recorded a $10.83 billion deficit in the first half of 2016, up 27.2% compared to the same period the previous year, according to statistics released on July 20, by Algerian customs.

As revenues from oil and gas exports fell by 33.62% amid global oil price slump, imports in the country exploded despite all of the government’s efforts to “rationalize spending”.

Indeed, imports reached $21.53 billion in the first half of 2016, down 14.34% compared to the same period in 2015.

As for exports, in which oil and gas’ represent 93.55%, they totaled $12.68 billion from January 1 to June 30, 2016, against $18.93 billion over the same period the year before (-33.02%).

Coverage rate of imports by exports thus fell to 54% from 69% between the periods considered.