Algeria's GDP: A Comprehensive Overview

Nominal and PPP-Adjusted Estimates

In 2023, Algeria's nominal GDP is estimated to be US$224.10 billion, according to data from the World Bank and OECD National Accounts. Using purchasing power parity (PPP), the estimated GDP is US$628.99 billion, which translates to US$13,680 per capita.

Recent GDP Growth Trends

Algeria's GDP has witnessed steady growth in recent years:

• In 2022, GDP stood at US$195.00 billion, a 19.29% increase from 2021.
• In 2021, GDP was US$163.47 billion, a 12.16% increase from 2020.
• In 2020, GDP was US$145.74 billion.

2023 GDP Growth: 4.1%

In 2023, Algeria's GDP grew by 4.1% compared to the previous year. This rate is 0.9% higher than the 3.2% growth recorded in 2022, indicating a continued economic recovery.

International Comparison

Algeria's GDP value of US$239.90 billion in 2023 represents 0.23% of the global GDP. This places Algeria among the top 60 economies in the world in terms of GDP.

Conclusion

Algeria's GDP has shown consistent growth in recent years, supported by its rich natural resources, particularly in the hydrocarbon sector. The country's ongoing efforts to diversify its economy and attract foreign investment are expected to further drive economic growth in the years to come.