Viet Nam-Algeria trade soar over 200% in the first 10 months of this year to nearly 500 million USD (Illustrative image. Photo: VNA)

According to Hoang Duc Thuan, Vietnamese Trade Counsellor in Algeria, trade cooperation between the two countries has expanded significantly since the signing of the Bilateral Trade Agreement, last renewed in 1994

He noted that from the 1960s to 2000, trade remained modest and mainly conducted under Viet Nam’s debt repayment schemes. Since 2001, however, bilateral trade has grown sharply with the increasing participation of private enterprises.

Viet Nam’s main exports to Algeria include coffee, cashew nuts, pepper, seafood, chemicals, footwear, textiles, and steel, while Algeria ships computers, electronic components, carob powder, chicken feet, and animal feed to Viet Nam. Algeria is also seeking Vietnamese partners for dates and olive oil imports.

In recent years, numerous business forums and online conferences have been organised to connect the two markets, with enterprises from both sides actively participating in major international exhibitions such as Viet Nam Expo, Viet Nam Food Expo, and the Foire Internationale d’Alger.

Beyond trade, bilateral cooperation has extended into oil and gas exploration and production. A tripartite joint venture, established in 2009 between the Petrovietnam Exploration Production Corporation (PVEP), Sonatrach (Algeria’s National Oil and Gas Company), and PTTEP (Thailand’s Petroleum Exploration and Production Company), operates the Bir Seba oil field in Hassi Messaoud, Ouargla province, about 600 km south of Algiers.

Since its first oil flow in August 2015, the joint venture had produced nearly 57 million barrels as of the end of 2024, with an average output of 17,500–18,000 barrels per day in early 2025. The project is regarded as a highlight in Viet Nam–Algeria cooperation.

The Algerian Government is also inviting Vietnamese businesses to invest in agriculture, agro-processing, aquaculture, textiles, tourism, logistics, mineral exploitation, pharmaceuticals, functional foods, construction, and labour supply.

With their strategic locations, both Viet Nam and Algeria can serve as regional gateways, helping each other’s goods enter neighbouring markets in Africa and Asia. Algeria, located in North Africa, is the largest country on the continent and the 10th largest in the world, with a population of around 47 million.

Its GDP is estimated at over 260 billion USD, ranking fourth in Africa, with per capita GDP of about 5,532 USD in 2025. Agriculture contributes 14.7%, industry 42.3%, and services 43% to the economy. The World Bank forecasts its GDP growth of 3.8% in 2025.

In 2024, Algeria’s exports totalled 49.35 billion USD, while imports reached 46.05 billion USD, resulting in a trade surplus of 3.3 billion USD. The economy remains heavily dependent on oil and gas, which account for nearly 30% of GDP, over 30% of tax revenue, and around 90% of export earnings.