WORLD TRADE CENTERS

Location: Algeria

Algeria is a gateway between Africa and Europe with the Sahara desert covering more than four-fifths of the land.  Oil and gas reserves were discovered here in the 1950s, but most Algerians live along the northern coast.  Algeria was originally inhabited by Berbers until the Islamic Empire conquered North Africa in the 7th century.  The Berbers stayed mainly in the mountainous regions and resisted the spreading Islamic influence, managing to preserve much of their language and culture.  They make up some 30% of the population.

Official name:  The People's Democratic Republic of Algeria
Population:  40,263,711 (July 2016 est.)
Capital:  Algiers
Area:  2.4 million sq km (919,595 sq miles)
Major languages:  Arabic, French, Berber
Major religion:  Islam

Hydrocarbons have long been the backbone of the economy, accounting for roughly 60% of budget revenues, 30% of GDP, and over 95% of export earnings. Algeria has the 10th-largest reserves of natural gas in the world and is the sixth-largest gas exporter and ranks16th in oil reserves.

GDP: $168.3 billion (2015 est.)

GDP by Sector: Agriculture: 13.1%, industry: 38.7%, services: 48.2% (2016 est.)

Exports: $26.91 billion (2016 est.)

Main Exports: Petroleum, natural gas, and petroleum products 97%

Imports: $44.6 billion (2016 est.)

Main Imports: Capital goods, foodstuffs, consumer goods.

Taft Investments Ltd holds the license for Algiers, which is the largest city as well as the capital of Algeria.  Algiers was first settled over 1000 years ago and has now grown to a large city with a metropolitan population.  At one time or another, Algiers has been a Phoenician, Carthaginian, Roman, Berber and Ottoman Turk city.  The arrival of French colonials in the 19th century brought not only a change of government to the city, but also the arrival of European architecture and culture.  Algiers is an important economic, commercial and financial center with a stock exchange that has a capitalisation of €60 million.