Algerian Economy Sees Slowed Growth in Q2 2024
According to the National Statistics Office (ONS), the growth rate of the Algerian economy has significantly slowed down in the second quarter of this year, reaching 3.6%, compared to 5% during the same period in 2023.
Partially, this can be explained by the decline of extractive industries, the main driver of the country's economy.
Despite this, the GDP has increased, reaching 8,784.5 billion dinars in the second quarter of 2024, compared to 8,288.4 billion dinars during the same period last year.
Furthermore, the volume of Algeria's imports of goods and services has seen a 13.3% increase in the second quarter of the current year, compared to 9.6% during the same period in 2023.
