The economy of Algeria advanced 1.2 percent year-on-year in the third quarter of 2019, quickening from a 0.3 percent expansion in the previous period, as the oil sector rebounded (1.4 percent vs -8.3 percent in Q2), mainly supported by refining (33.6 percent) and liquefaction (22.6 percent) activities. On the other hand, growth slowed in industry (4.5 percent vs 4.6 percent); construction (3 percent vs 3.5 percent); commercial services (2.6 percent vs 3.1 percent), such as internal trade (0.8 percent vs 2.6 percent) and household services (2.7 percent vs 6 percent) and non-commercial services (0.9 percent vs 2.3 percent), namely public administration (0.6 percent vs 3.3 percent) and finance (4.8 percent vs 5.5 percent). Also, agricultural activity declined (-3 percent vs 1.8 percent), largely explained by a drop in crop production, especially those of cereals. GDP Annual Growth Rate in Algeria averaged 2.88 percent from 2001 until 2019, reaching an all time high of 6.70 percent in the fourth quarter of 2003 and a record low of -0.40 percent in the fourth quarter of 2017.
GDP Annual Growth Rate in Algeria is expected to be 1.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Algeria to stand at 1.70 in 12 months time. In the long-term, the Algeria GDP Annual Growth Rate is projected to trend around 1.50 percent in 2020, according to our econometric models.