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Economy of Algeria

Algeria is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developing nation, Algeria may not be able to offer consistent social services to its citizens. These social services may include things like public education, reliable healthcare, and law enforcement. Citizens of developing nations may have lower life expectancies than citizens of developed nations. Each year, Algeria exports around $68.25 billion and imports roughly $55.02 billion. 10% of population in the country are unemployed. The total number of unemployed people in Algeria is 4,200,805. In Algeria, 23% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Algeria is fairly high, but is not reason for complete concern with regard to investments. Potential financial backers should look at other economic markers, including GDP, urbanization rate, and strength of currency, before making any decisions regarding investments. Government expenditure on education is 4.3% of GDP. The Gini Index of the country is 35.3. Algeria is experiencing good equality. The majority of citizens in Algeria fall within a narrow range of income, although some cases may show significant differences. Algeria has a Human Development Index (HDI) of 717. Algeria has a very high HDI score. This indicates that nearly all citizens are able to attain a desirable life because of social and economic support; citizens with a low standard of living receive aid and support and have the opportunity to advance in society. The Global Peace Index (GPI) for Algeria is 2.131. The strength of legal rights index for Algeria is 2. Overall, it is considered to be rather weak - bankrupcy and collateral laws are unable to protect the rights of borrowers and lenders in case of credit-related complications; credit information, if any at all, is scarce and hardly accessible.

Currency

The currency of Algeria is Algerian dinar. The plural form of the word Algerian dinar is dinars. The symbol used for this currency is د.ج, and it is abbreviated as DZD. The Algerian dinar is divided into Santeem; there are 100 in one dinar.

Credit rating

Credit rating is the extent to which international investors trust a country in paying debts and upholding the country's obligations in terms of crediting. There is no information on the credit rating of Algeria.

Central bank

The prime lending rate of Algeria's commercial banks is 8. In Algeria, the institution that manages the state's currency, money supply, and interest rates is called Bank of Algeria. Locally, the central bank of Algeria is called بنك الجزائر. The average deposit interest rate offered by local banks in Algeria is 1.8%.

Public debt

Algeria has a government debt of 47.9% of the country's Gross Domestic Product (GDP), as assessed in 2012.

Tax information

The corporate tax in Algeria is set at 23%. Personal income tax ranges from 0% to 35%, depending on your specific situation and income level. VAT in Algeria is 17%.

Finances

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Algeria is $551.72 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Algeria was last recorded at $0 million. PPP in Algeria is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Algeria is 228 billion. Based on this statistic, Algeria is considered to have a small economy. Countries with small economies generally support less industries and opportunities for investment. However, worthwhile investment opportunities may be found. The Gross Domestic Product (GDP) per capita in Algeria was last recorded at $0 million. The average citizen in Algeria has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Algeria averaged 4% in 2014. According to this percentage, Algeria is currently experiencing significant growth. Countries that are experiencing significant growth offer the best chance for a substantial return on investment, as GDP growth rate is the most important indicator of economic health. As GDP grows, business, jobs, and personal income grow as well. To read more about financial information click on finances of Algeria.

Industry

Major industries in the country are petroleum, natural gas, light industries, mining, electrical, petrochemical, food processing. The total labor force of Algeria is 12,106,190 people, wherein 10% of population in the country are unemployed. The total number of unemployed people in Algeria is 4,200,805. The Industrial Production growth rate of Algeria is 4.8%.To read more about industrial information within Algeria click on industry of Algeria.

Agriculture

There are 75501 km2 of arable land in Algeria, and it comprises 3% of the country's total territory. There are 82170 km2 of cultivated land in Algeria. The country's major agricultural crops and products are wheat, barley, oats, grapes, olives, citrus, fruits, sheep, cattle.To read more about agriculture click on agriculture of Algeria.