Algeria’s first quarter energy earnings fell 1.68 percent year on year, official figures showed on Sunday.
That increased the OPEC member country’s trade deficit by 11 percent to $1.37 billion, the data released by customs showed.
Oil and gas exports, which accounted for 93.59 percent of the country’s exports, fell to $9.153 billion from $9.310 billion, the figures showed.
The overall value of exports fell to $9.78 billion from $10.02 billion for the January-March quarter last year. Imports fell 0.83 percent to $11.15 billion.
Algeria has imposed import restrictions on some goods, including foodstuffs in a bid to cut spending after a fall in global oil prices since mid-2014.
Former Algerian Prime Minister Ahmed Ouyahia revealed in February that the country’s reserve of foreign monetary dropped to less than USD80 billion.
According to Bloomberg, Algerian authorities have projected international reserves would drop further to $68 billion in 2019, based on a conservative budget that assumed an average oil price of $50 per barrel.
