As disclosed on Monday 21 by Algeria’s Trade Minister Kamal Rizik, the country’s non-oil exports exceeded $6 billion in the period between the beginning of the year and the end of November.
In a country which relies greatly on oil and gas export revenues, this is the highest achievement in its history since independence in 1962 from France.
The Trade Minister’s remarks came on the sidelines of the launch of the Algerian Production Exhibition which is scheduled to take place in Algiers, the country’s capital until 24th December.
He attributed this accomplishment to the growth recorded by several local industrial sectors as well as the quality of exported products, although he did not give details of the sectors he referred to.
He stated that the Algerian Government plans to double this figure by 2023 bringing it to approximately $15 billion in non-hydrocarbon exports.
According to official data, 90% of Algeria’s foreign exchange income heavily depends on the export revenues generated from oil and gas.