September 29, 2018 / 3:47 PM / 21 days ago

Higher energy exports help cut Algeria's Jan-Aug trade deficit

ALGIERS, Sept 29 (Reuters) - Algeria’s energy earnings rose 21.23 percent in the first eight months of 2018 compared with the same period a year ago, helping to reduce the trade deficit by 75 percent, official data showed on Saturday.

Oil and natural gas exports, which accounted for 93 percent of the country’s total sales abroad, reached $26.33 billion, up from $21.72 billion in January-August last year, according to customs figures.

The overall value of exports reached $28.342 billion versus $22.952 billion in the first eight months of 2017, while imports fell 2.4 percent to $30.394 billion.

Algeria’s government has imposed import restrictions for some products in an attempt to reduce spending on foreign-made goods. (Reporting by Hamid Ould Ahmed Editing by Helen Popper)

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