Algeria's Natural Resources

The nation of Algeria possesses two of the world’s most lucrative natural resources to be found in the world: oil and natural gas. In the 1970’s oil prices rose greatly with economic growth that topped 20 percent annually, proving for oil to be an excellent resource for Algeria. During the mid 1980’s oil maintained an average growth rate of 4.5 percent proving to be one of the nations most reliable resources. The growth rates maintained by Algeria’s oil in the 21^st century were supported greatly by export growth. Since 2005 Algeria has had a very successful trade surplus, great foreign exchange reserves, and has managed to reduce its foreign debt because of this lucrative resource. In addition to this, Algeria’s production and exportation of oil and gas has continued to supply a very large portion of Europe’s energy requirements.

            Apart from oil and natural gas, Algeria also relies on mining to provide a portion of the country’s resources. Algeria’s phosphate mines in the Northeast are one of the largest collections in the world covering over eight hundred square miles and providing approximately one million tons annually. In addition to these phosphate mines, Algeria also contains deposits of high-grade iron ore located near the Tunisian border. Apart from the large collections of phosphate and iron ore, Algeria also include mineral production providing zinc concentrate, bentonite, lead concentrate, mercury, crude barite, salt, hydraulic lime, marble, silver, kaolin, sulfur, and strontium. With this wide array of different minerals, minerals are another one of Algeria’s most profitable natural resources.

            Although Algeria does contain many valuable minerals, the nation primarily depends on producing oil and gas as its number one export. Needless to say, Natural gas and petroleum completely dominate Algeria’s economy. In 1985 to 1986, Algeria was facing a very large debt. The government did its best to try and diversify the nation’s economy and to create more prove businesses. During the late 1990s and 2000s, Algeria suffered due to inefficient agricultural methods and unemployment. Fortunately, due to the oil prices rising at this time, Algeria was able to increase its exports and trade.

            Oil, natural gas, and minerals have proved to be sufficient natural resources for the nation of Algeria. Although the country has struggled financially at times due to the change in value of these resources, they have allowed the country to maintain its existence due to their lucrative exportation values.

 "Algeria Facts and Information" Encyclopedia, accessed June 5, 2015, http:// http://www.encyclopedia.com/topic/Algeria.aspx.

"Algeria: Land” Encyclopedia Britannica, http://www.britannica.com/EBchecked/topic/15001/Algeria#toc46503.

Pictures:

Algeria 1983 Minerals, Accessed June 5, 2015, http://www.brumstamp.com/

Oil Peak, Accessed June 5, 2015, http://www.endofcrudeoil.com/

Algeria Profile: Back on the Gas, Accessed June 5, 2015, http://www.arabianoilandgas.com/