Diplomatic representation from the US: chief of mission: Ambassador Robert S. FORD embassy: 04 Chemin Cheikh Bachir Ibrahimi El-Biar 16030, Algiers mailing address: B. P. 408, Alger-Gare, 16030 Algiers telephone: [213] (021) 69-12-55 FAX: [213] (021) 69-39-79
Flag description:
two equal vertical bands of green (hoist side) and white; a red,
five-pointed star within a red crescent centered over the two-color
boundary; the crescent, star, and color green are traditional
symbols of Islam (the state religion)
Economy Algeria
Economy - overview:
The hydrocarbons sector is the backbone of the economy, accounting
for roughly 60% of budget revenues, 30% of GDP, and over 95% of
export earnings. Algeria has the seventh-largest reserves of natural
gas in the world and is the second-largest gas exporter; it ranks
14th in oil reserves. Sustained high oil prices in recent years,
along with macroeconomic policy reforms supported by the IMF, have
helped improve Algeria's financial and macroeconomic indicators.
Algeria is running substantial trade surpluses and building up
record foreign exchange reserves. Algeria has decreased its external
debt to less than 10% of GDP after repaying its Paris Club and
London Club debt in 2006. Real GDP has risen due to higher oil
output and increased government spending. The government's continued
efforts to diversify the economy by attracting foreign and domestic
investment outside the energy sector, however, has had little
success in reducing high unemployment and improving living
standards. Structural reform within the economy, such as development
of the banking sector and the construction of infrastructure, moves
ahead slowly hampered by corruption and bureaucratic resistance.
GDP (purchasing power parity):
$253.4 billion (2006 est.)
GDP (official exchange rate):
$92.22 billion (2006 est.)
GDP - real growth rate:
5.6% (2006 est.)
GDP - per capita (PPP):
$7,700 (2006 est.)
GDP - composition by sector: agriculture: 9.4% industry: 58.1% services: 32.5% (2006 est.)
Labor force: 9.31 million (2006 est.)