Algeria’s economy is abundant in natural resources, with their biggest asset being natural gases and oil. Not only that, but Algeria’s economy is growing strongly as they have a large pool of foreign currency reserves, low external debt and a thriving energy industry. These have help Algeria change from being a porr nation to rise to economic power. Algeria’s master plan has been to diversify their economy throughout the years to make sure they are be resilient over different circumstances. Their agriculture sector had slowly been growing, however that alone would have left them vulnerable to changes in weather. Therefore, Algeria has diversified their economy by increasing job opportunities in the hydrocarbon industry. With such strength in extraction hydrocarbons, their industry makes up 19% of their GDP, which contributed up to 90% of the country’s exports. Algeria’s economy is now focusing on reducing their over-reliance on their hydrocarbons and petroleum since roughly 66% of their budgetary income is made up from this sector. Thanks for watching the video! If this video was helpful or entertaining to you, please leave a like, comment your thoughts and subscribe to the channel to see more content like this in the future! Disclaimer Some of the footage used in this video is not original content produced by Macro Mates. Portions of stock footage were gathered from multiple
sources : https://www.youtube.com/watch?v=H3e2CznR3Bc&pp=ygUHYWxnZXJpYQ%3D%3D
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