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October 24, 2023 | 1 year ago

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Natural Resources: Algeria in the World Top 20

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Algeria is a world leader in natural resources. Indeed, it is one of the few African countries to be in the world’s top 20 richest in natural resources. This is according to a recent study by the website Insider Monkey published in early October. 

The study was based on the difference between the revenues generated by these resources and the costs of production. According to the study, conducted in collaboration with World Bank data, four African countries rank in the world’s top 20 for natural resources. 

These include Libya, Congo, Angola, and Algeria. With Africa’s largest proven oil reserves, Libya ranks first among the world’s richest in natural resources. Its revenues from natural resources account for 61% of GDP. Its most prolific field, Sharara, plays an important role in the country’s oil-production capacity. 

Algeria, the fourth-largest country in Africa in the world’s top 20, ranks 13th with a total income of 22.6% of GDP. Its resource wealth resides primarily in oil and gas, with the fields of Hassi Messaoud and Hassi R’Mel integral to its oil industry, the study found. These deposits, which are important for both domestic consumption and exports, also support Algeria’s leading role in the fertilizer industry because of its large phosphate reserves, the source said. 

October 24, 2023 | algeria-logo

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