Algeria is the largest country in Africa, in the Mediterranean and in the Arab world with an immense potential in its subsoil not just hydrocarbons but other minerals in huge quantities. It’s one of the largest economies in Africa. It has a modern infrastructure with a network of tens of thousands of kms of roads of international standard, it’s the largest in Africa. 99 % of Algerians have electricity, it is among the highest in the world. With a population of 42 million people, of which 10 millions go to school and 1,5 million are university students. We have well trained labour. The minimum wage is about 180 pounds a month (purchasing power). Algeria has the highest index of human development in Africa Algeria has more than a million small and medium enterprises and many firms of international stature.
Even though, Algeria has been experiencing a big fall of its oil revenues, for the past years, which constitute a large part of its income and is facing the huge challenges posed by COV19, its macroeconomic parameters remain relatively positive with a 2,6 % growth in 2019, inflation of 2 %, unemployment of 12 % and foreign exchange reserves of 57 billion dollars.
As far as Algeria-UK aggregates are concerned, in 2019, the bilateral trade was approximately 2,9 billion dollars, Algeria exporting about 2,4 billion dollars in oil and gas and importing around 500 million dollars in British equipment. We see that the trade volume between the two countries is a fraction of its level of few years ago.
Export non hydrocarbon : 5 millions
Imports 470 millions: equipment industrial, mechanical, chemical
Hundreds of Algerians in UK universities preparing PhD’s
Opening of international British school in Algiers
127 British working in Algeria: oil and gas: BP, Petrofac, British Gas, Neptune and Petroceltic
Pharmaceutic: Astra Zeneca / Glaxcosmithkline
Banking: HSBC, British Arab commercial bank
Others like Rolls Royce et Unilever (cosmetics)