Algeria’s growth was robust in 2023, and inflation started to decelerate. GDP growth accelerated to 4.1 percent, supported by hydrocarbon sector growth, as natural gas production compensated for successive crude oil production quota cuts. Non-extractive GDP growth reached 3.7 percent as investment growth accelerated, supported by a marked recovery in public investment, and leading to a surge in imports. Private consumption remained dynamic, stimulated by growing public sector wages, and pulling sectors serving households. Inflation remained at 9.3 percent over 2023 but moderated to 5.0 percent year-on-year in the first quarter of 2024, amidst a sustained decline in fresh food prices, a strong dinar, and lower import prices. Continuing to strengthen data systems would support investment and public policymaking. In 2023 and 2024, digitalization efforts accelerated, as did efforts from the Bank of Algeria and ONS to strengthen their publications, with notably the first GDP rebasing. The alternative data sources used in this report, such as satellite data on crop development or nighttime lights, represent a useful complement to conventional economic and social statistics.
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