Algeria's trade deficit soars

Algeria's trade balance experienced a deficit of 17.84 billion U.S. dollars in 2016, against 13.71 billion in 2015, a deficit widening of 4.8 percent, the Algerian Customs said on Monday.

Spokesman Djamel Brika said the North African nation's exports declined by 16.7 percent in 2016, as imports also fell but at a slower pace by 9.6 percent.

The government was forced to reduce expenditure for 2017 over oil revenues decline, given that hydrocarbons account for 94 percent of the North African nation's total exports.

Meanwhile, the customs issued a report on the nation's trade in 2016, as China maintained its leading position as the largest trade supplier of Algeria. Endit