In Algeria, according to statistics published on June 20 by Algerian customs, there was a deficit of $9.8 billion in the trade balance in 2016’s first five months, against $7.23 billion over the same period the year before.

The deficit was mainly due to oil export earnings falling by 37% as global oil prices slumped significantly.

Exports, including oil which makes 92.96% of total, generated from January 1 to May 31, 2016, $9.82 billion against $15.39 billion for the first five months of 2015.

Imports have also decreased but less significantly, to $19.62 billion in 2016’s first five months from $22.62 billion over the same period in 2015.

Hence, coverage rate of imports by exports slipped from 68% to 50% between the two periods of comparison.