Algeria/Economy

Economy of Algeria

An overview of key economic indicators. Select a category for detailed trends, charts, and insights.

Explore Economic Domains

Growth & Output

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GDP (USD)
$247.6B(2023)
GDP PPP (USD)
$776.7B(2023)
GDP per Capita (USD)
$5,364(2023)
GDP Growth (inflation-adjusted)
4.1%(2023)
Inflation (CPI Annual %)
4%(2024)

Trade & Finance

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Exports (as share of GDP)
23.6%(2023)
Imports (as share of GDP)
20.1%(2023)
FDI Inflows (as share of GDP)
0.5%(2023)
Remittance Inflow (USD)
$1.9B(2023)

Labor & Income

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Unemployment Rate
11.4%(2024)
Employment in Services
59.9%(2023)
Poverty Rate
5.5%(2011)
GINI Index
27.6(2011)
GNI per Capita (USD)
$4,950(2023)

Energy & Environment

Coming Soon
Energy Use per Capita
1500 kg oil eq.(2022)
Renewable Energy Consumption (%)
0.1%(2021)

Economic Snapshot Overview

A summary of key economic indicators for Algeria

  • The economic architecture of Algeria is substantial, anchored by a Gross Domestic Product (GDP) of approximately $247.63B
    2023
    . This places it as the 52nd largest economy out of 191 countries measured, underscoring its significance on the world stage. On a per capita basis, GDP stands at $5.36K
    2023
    , while its GDP in Purchasing Power Parity (PPP) terms is estimated at $776.69B, reflecting the population's domestic purchasing power. The economy demonstrates solid growth, expanding at a rate of 4.1%
    2023
    , while managing moderate inflation, with a CPI of 4.0%
    2024
    .
  • On the global stage, the nation's trade and financial dynamics reveal a complex interplay of factors. The country maintains a strong trade surplus, with exports representing 23.6% of GDP and imports 20.1%
    2023
    . Foreign Direct Investment (FDI) inflows are significant, constituting 0.49% of the economy
    2023
    . This performance positions the country 143rd globally out of 186 nations, indicating its relative attractiveness to foreign capital. Additionally, personal remittances received amount to a substantial $1.87B annually
    2023
    , highlighting the economic importance of its diaspora.
  • The socio-economic landscape is characterized by a Gross National Income (GNI) per capita of $4,950
    2023
    . Globally, this ranks the nation 109th out of 190 in terms of GNI per capita, providing a clear measure of its national wealth relative to others. The country faces significant labor market challenges, with an unemployment rate of 11.4%
    2024
    . The services sector is a primary driver of the labor market, accounting for 59.9% of total employment
    2023
    . Poverty remains a key issue, with 5.5% of the population living below the national poverty line
    2011
    . The country has a relatively equitable distribution of income, with a Gini index of 27.6
    2011
    .
  • On the environment and energy front, energy consumption per capita is 1,500.346 kg of oil equivalent
    2022
    . The energy mix is still heavily reliant on traditional sources, with renewables contributing 0.1%
    2021
    . Its commitment to clean energy places it 4th among 190 countries for its share of renewable energy consumption.

Key Economic Insights

Macroeconomic Health

Maintaining a balance between growth, inflation, and employment is the central challenge for economic policymakers.

Trade & Investment Profile

The degree of openness to trade and foreign investment is a major determinant of economic structure and resilience.

Social Equity & Distribution

The benefits of growth appear to be broadly shared, with relatively low poverty and a more equitable income distribution.

Energy & Sustainability

Heavy reliance on fossil fuels creates significant long-term risks related to climate change, price volatility, and energy security.

More About This Country

Neighbors & Regional Peers

Note: The information on this page has been compiled from authoritative sources. While every effort is made to ensure accuracy, please note that some figures may not be current or entirely precise.