Algeria Q1 trade deficit widens on low energy earnings

ALGIERS: Algeria's trade deficit widened to $5.616 billion in the first quarter from $3.464 billion a year earlier due to lower energy earnings, official figures showed on Wednesday.

Oil and gas exports, which account for about 93 percent of sales abroad, dropped 39.7 percent to $5.511 billion, according to customs data. Overall exports declined by 39.65 percent while imports were down 13.07 percent.

The North African OPEC member country has been trying to reduce imports since crude prices started sliding, a development it expects will cause its energy earnings to fall to $26.4 billion this year from $35.72 billion in 2015.