Market overview
Algeria is one of the largest countries in the MENA region, with a population of 41.7mn (source: World Factbook). Since independence from France in 1962, Algeria’s primary political party, the National Liberation Front (FLN) has held sway, with President Abdelaziz Bouteflika in power since 1999.
The Algerian economy relies heavily on hydrocarbons, accounting for roughly 30% of GDP and nearly 95% of export earnings. Algeria’s economy has been hit hard by declining oil prices, which have resulted in public spending cuts and increased taxes, putting pressure on Algerians’ spending power.