(Ecofin Agency) - Over the first three months of 2020, Algeria’s trade deficit grew by 26% YoY to $1.5 billion compared with $1.19 billion in Q1 2019. Figures were provided by the Directorate of Customs (DGD).

Export revenues during the period reviewed slid by 24.85% to $7.62 billion, against $10.14 billion in Q1 2019. Hydrocarbons accounted for 92.40% of exports and generated $7.04 billion, down 25.78% compared with the $9.48 billion in Q1 2019. Non-oil revenues reached $578.7 million in Q1 2020, compared with $658.04 million in Q 2019.

Import revenues over the period reached $9.12 billion, down 19.52% compared with the $11.3 billion generated in Q1 2019.

The export/import coverage ratio dropped by 6 points to 83.5% between the two periods. Algeria’s major buyers in Q1 2020 were Italy ($1.17 billion), France ($1bln), Turkey ($705.03 million), Spain ($627.8 million), and China ($417.2 million).

The main suppliers over the period were China ($1.55 billion), France ($951.9 million), Italy ($741.7 million), Spain ($570.3 million), and Germany ($558.7 million).

André Chadrak