Algeria's energy income plummets 41 percent

Algeria's energy earnings dropped 40.8 percent in 2015 from the previous year, causing a trade deficit of $13.71 billion after a $4.306 billion surplus in 2014, the Finance Ministry said. Energy earnings reached $35.72 billion in 2015 against $60.3 billion the previous year, because of the sharp fall in global crude oil prices, according to figures released by the ministry and published by state media on Tuesday.
The value of overall exports declined 40 percent to $37.78 billion, while imports fell 12 percent to $51.501 billion in 2015, the data showed. The North African Opec member country has been trying to reduce imports as part of efforts to rein in spending after the crude price drop. It has cut public spending, raised prices on some subsidised fuels and frozen infrastructure projects.