Car imports shrink in Algeria

Algeria’s car imports have fallen by more than 50 percent since the beginning of the year as they stopped at 23,682 while people prefer saving their money for housing projects subsidized by the government.

Figures show that the imports reached $382 million compared to about $607 million in 2013.

A total of 47,858 cars were imported last year compared to 23,682 in 2014, according to customs.

Specialists believe that demand for cars decreased as people spend their money on real-estate following the launching of public housing projects.

A total of 700,000 people applied for the AADL housing program and about 100,000 for promotional housing projects subsidized by the government.