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Non-hydrocarbon exports: “Algeria targets US$7 billion by end of 2022,” President Tebboune says

September 27, 2022

ALGIERS- “As part of the new economic policy, Algeria eyes to make the diversification of its economy a tangible reality and to reach non-hydrocarbon exports worth US$7 billion by the end of 2022,” the President of the Republic, Abdelmadjid Tebboune said Saturday in Algiers.

Chairing the opening ceremony of the Government-Walis meeting at the Palace of Nations (Club des Pins), President Tebboune indicated that “the liberation and diversification of the national economy were only a simple slogan in the past,” observing that “the non-hydrocarbon exports did not exceed 1.3 billion USD”.

“The objective set is to achieve 7 billion USD in non-hydrocarbon exports during the current year”, continued President Tebboune, recalling that Algeria had exported in 2021 nearly 5 billion of non-hydrocarbon goods.

Emphasizing that the level of exports constituted, in any economy, an indicator of development, employment dynamics and increase in added value, the President of the Republic pointed out that the Algerian economy was experiencing a new dynamic.

This dynamic, he noted, was made possible thanks to several industrial sectors whose products were formerly imported by Algeria and which are now exported, like steel products, cement, agricultural and food products and rubber (car tires).

At the same time as the increase in non-hydrocarbon exports, President Tebboune insisted on the orientation of the public authorities in terms of controlling imports.

He recalled, in this regard, the ban on the importation of all locally produced goods, noting that a census of all local products will be carried out “sector by sector”, which will allow, he further explained, an effective implementation of this measure.