91% of Spanish imports to Algeria are concentrated in fuel

Spanish exports to Algeria amounted to 472.9 million in the first quarter and imports to 1,789.6 million

MADRID, 9 Jun. (EUROPA PRESS) -

90.7% of Spanish imports to Algeria are concentrated in fuels, oils and minerals and reached 1,623.9 million euros between January and March 2022, according to data from the Ministry of Industry, Commerce and Tourism collected by Europa Press.

In the first three months of 2022, Spanish imports to Algeria amounted to 1,789.6 million euros, which represents 1.7% of the total. Along with fuels, which account for 90.7%, Spain also imports chemical products (3.8%), fertilizers (2.7%) and, to a lesser extent, oilseeds and industrial plants (0.8%) and glass and its manufactures (0.4%).

For its part, Spain exported goods to Algeria for 472.9 million euros between January and March 2022, which represents 0.5% of total exports during the quarter. The main headings of exports were fats, animal or vegetable oil (12.1%); paper and cardboard (11.4%); machines and mechanical devices (7.6%), plastic materials and their manufactures (6%) and electrical devices and material (6%).

Throughout the year 2021, Spanish imports to Algeria amounted to 4,768 million euros, almost double compared to 2020 and rising 24% compared to 2019, the year before the pandemic. As for exports, the volume reached 1,887 million euros, 1.5 less than in 2020 and 35% less than in 2019.

SECOND GAS SUPPLIER BEHIND THE USA

Although historically Algeria has been the main supplier of gas to Spain, the trend has reversed since the beginning of this year and that position is now occupied by the United States.

According to data from Enagás, in the first quarter of the year natural gas imports from the United States multiplied almost sixfold (459.9%) in relation to the same period of the previous year, going from 7,472 GWh in the three first months of 2021 to 41,839 GWh in the accumulated between January and March of this year.

On its side, gas purchases from Algeria, historically Spain's leading supplier, in the first three months of 2022 have been reduced by 35.35%, although it continues to be an outstanding supplier --the second--, by covering the 26.1% of the country's total consumption so far this year.

The US thus remains for the third consecutive month as the main supplier of natural gas to Spain and the weight of imports from the North American country accounted for 36.9% of the total in the accumulated quarterly figure.

SUSPENSION OF THE FRIENDSHIP TREATY

Algeria announced yesterday the suspension of the Treaty of Friendship with Spain, after the President of the Government, Pedro Sánchez, confirmed in the parliamentary headquarters his turn regarding the Sahara, which will have important repercussions in economic and commercial terms.

Specifically, chapter two of the Treaty, which was signed in 2002, contemplates economic and financial cooperation, committing Spain and Algeria to promote and strengthen them in order to try to revitalize and modernize the Algerian economy by promoting reciprocal investments . To do this, they planned to promote contacts between the productive and service sectors of both countries, as well as investment projects and joint ventures.

Among the areas of economic cooperation, special attention was paid to infrastructure projects, particularly in the fields of energy, public works and housing, transport and communications, maritime fishing, environmental protection and natural resource management.