FACTBOX-Algeria: its economy and people

May 7 (Reuters) – Here is a look at Algeria, which holds a parliamentary election on Thursday: ALGERIAN OIL AND GAS: — Algeria is an important oil and natural gas producer and a member of the Organization of the Petroleum Exporting Countries (OPEC). — Algeria’s hydrocarbons sector accounted for 60 percent of its budget revenues, 36 percent of its GDP, and over 97 percent of its export earnings in 2010. — In 2010, Algeria was the fourth largest crude oil producer in Africa after Nigeria, Angola, and Libya. According to the Oil and Gas Journal, Algeria held an estimated 12.2 billion barrels of proven oil reserves as of January 2012, the third largest reserves in Africa (behind Libya and Nigeria). — The Hassi Messaoud basin, located in the east, is the country’s largest oil basin and producing oilfield and contains up to 60 percent of Algeria’s oil reserves. Algeria produced an estimated average of 1.27 million bpd of crude oil in 2011 together with 270,000 bpd of condensate and 340,000 bpd of natural gas liquids. — In 2011, Algeria’s estimated crude oil exports were 750,000 bpd, of which the largest portion went to North America, mainly to the United States. ECONOMY DETAILS: — According to official data, unemployment has been declining; reaching 10 percent in 2010, down from 10.2 percent in 2009, but youth unemployment remains high at 21 percent (2010). — The 2009-2014 development plan for the construction of housing and public facilities is expected to create up to 2 million new jobs. Algeria posted an estimated fiscal deficit of 4 percent of GDP in 2011, the third consecutive deficit in over a decade. — However, Algeria holds significant foreign exchange reserves, estimated at $181.5 billion (2011), to finance its deficit and its expansionist fiscal policy. SOME NUMBERS: Income Category – Upper middle income Population – 35.4 million GNI Per Capita (US$) – 4,460.00 GDP Growth percentage – 2008 2009 2010 2011 2.4 2.4 3.3 3.6 2012 2011 Doing Business Rank 148 143 Corruption: Algeria ranked 112 out of 183 countries in Transparency International’s latest corruption perception index in 2011 along with Egypt, Kosovo, Moldova, Senegal and Vietnam. Algeria was ranked 105 in 2010 out of 178 countries. TOURISM: Algeria plans to boost investment in the tourism sector with the aim of attracting some 3.5 million tourists per year starting in 2015, the tourism minister said last month in an effort to move its economy away from reliance on oil and gas. — Though the North African country boasts unspoiled mountains, a long Mediterranean coastline and spectacular deserts, foreign visitors did not exceed 2 million in 2011. Most of them were members of Algeria’s diaspora returning home to visit their relatives. — Visitors were put off by a civil conflict that raged through the 1990s that killed thousands, fear of attacks by Islamist militant groups, a lack of tourism infrastructure and bureaucratic visa rules. — Algeria earned around $70 billion from oil and gas revenues in 2011, compared to $400 million from tourism. COUNTRY DETAILS: Languages: Arabic (official), French, Amazigh (national but not official language) Religion: Sunni Muslim (99 percent), Christian and Jewish (1 percent) Human Development: Algeria’s HDI value for 2011 is 0.698-in the medium human development category, positioning the country at 96 out of 187 countries. Life Expectancy is at 73.1 years for 2011. Sources: Reuters/www.eia.gov/oil <http://www.eia.gov/oil> and gas journal/World Bank/GlobalFinance (Reporting by David Cutler, London Editorial Reference Unit; Editing by Alison Williams)