Algeria is a big player in international trade, like most economies in the world it exports and imports goods to and from other countries. Oil and natural gas form the bulk of Algerian exports although they have started to look for different ways of generating more revenue and to reduce their reliance on oil. Despite some strict regulations and restrictions on imports by the sitting government Algeria still engages in trade with countries like China, France, Italy and others, and in terms of imports Algeria gets most of its products from the following states.
Algeria's Biggest Import Partners
17% of all Algerian imports originate from China. In 2016 alone, Algeria spent $8.41 billion in imports from China with machinery and electrical equipment making up 23% of the products. Other products from China include nuclear reactors, vehicles, rubbers, iron and steel, plastics, aluminum, footwear, and toys among many others.
For a while, France was Algeria's largest supplier of goods until Algeria turned east and embraced China, a move that did not go down so well with the European Union. Despite that, however, Algeria still engages in trade with France with imports from the European powerhouse accounting for 10% of the total imports in the year 2016. Some of the products shipped in include cereals, machinery, pharmaceutical products, vehicles, iron and steel, electrical equipment, dairy products, and mineral fuels among others.
Italy is the third most significant source of Algerian imports, the two countries have shared an amicable trade partnership for years with Italy accounting for 9.8% of all the products that get shipped into Algeria. Machinery and nuclear reactors formed 34% of the imports amounting to $1.6 billion followed by iron and steel, electrical equipment, vehicles, medical apparatus and others.
Spain and Algeria are part of the Union of Mediterranean and have been engaged in trade for ages. Imports from Spain make up 7.6% of the imports with plans to increase that already underway through trade pacts that have been agreed upon by the two states. For instance, in 2017 Sonatrach from Algeria and Repsol from Spain decided to cooperate in energy exploration ending a feud that had been hampering trade. Imports from Spain include machinery, vehicles, and iron and steel among other assorted goods.
Other Trade Partners
Other sources of Algerian imports include Germany which accounts for 6.4% of the imports that go into the North African nation. German products that come in, include machinery, vehicles, pharmaceutical products, cereals and others. Algeria also imports from the United States which accounts for 4.9% of the total imports. Turkey is another critical source of Algerian goods with trade volume between the two countries amounting to $3.5 billion. Algeria has even invited Turkey to set up local factories that will process some of the goods that have been banned from being imported.
Algerian Import Regulations and Restrictions
To insulate local production, the Algerian government imposed some rules like high tariffs on certain types of goods that come into the country. As of January 2018, there were approximately 851 goods that are subjected to these high tariffs with most of them being food products. On top of these regulations, the Algerian government imposed a temporary ban on the import of phones and household appliances in a bid to cut down on spending after the prices of oil and gas collapsed.
Which Countries Are The Biggest Import Partners Of Algeria?
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