Tunisia’s economic outlook brightens as recent data from the National Statistics Institute (INS) reveals a notable 24.3% reduction in the trade deficit during the first two months of 2024. The deficit, now standing at TND 1,784.1 million, shows a significant improvement compared to the same period last year.
While facing challenges in trade relations with certain nations like China, Russia, and Algeria, Tunisia has managed to secure trade surpluses with key partners such as France, Italy, and Germany. Notably, exports surged by 5.9%, driven by robust performances in sectors like agri-food, mechanical, and electrical industries.
Exports to the European Union, constituting a substantial portion of Tunisia’s trade, witnessed a 4.9% increase, particularly in exports to Italy, Spain, and Belgium. However, imports remained relatively stable with a marginal 0.2% increase, mainly due to rises in energy products, capital goods, and consumer goods.
Despite the positive trade balance excluding energy, there’s a concern over the widening energy deficit, signaling the need for strategic energy planning. Nevertheless, Tunisia’s trade landscape exhibits resilience and adaptability, laying a foundation for sustained growth in the future.
photo source: Google
By: Montel Kamau
Serrari Financial Analyst
14th March, 2024
