Background: Algeria is in the North of Africa with a GDP estimated at $167 billion and a population of 40 million people. The country is rich in resources with hydrocarbon resources, gas reserves estimated to last for another 50 years at current extraction rates and crude oil for almost 22 years. The economic activity is more centered towards resources as reflected in the table below in respect of percentage of exports and imports (source: UNCTAD):
Geo-Economic structure: Algeria is still affected by a lack of economic diversification and over-dependence on oil and gas which is 99% of export earnings. The financial sector remains dominated by state enterprises that have to absorb losses from public sector companies and there are limited private sector opportunities for the local residents. The geo-political landscape remains high risk although the size of the economy continues to attract investors. The economy is growing at a rate of 3% per annum with low external debt to GDP of 3%.
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