Algeria posts GDP growth of 2.3pc in Q1

Algeria's gross domestic product (GDP) grew 2.3 per cent in the first quarter of this year helped by a better performance from the energy sector, official data showed on Saturday, after a 3.9 per cent contraction a year earlier.

OPEC member Algeria's economy relies heavily on oil and gas which account for 9 per cent of its total export revenue and 60 per cent of the state budget.

The country's oil and gas sector grew 7.5 per cent in the January-March period after a 13.3 per cent contraction a year earlier, figures issued by the National Statistics Bureau showed. The non-energy sector grew by 1.4 per cent after shrinking 1.2 per cent a year earlier, the figures showed.