Tunisia's Trade Exchanges Show Signs of Growth in First Nine Months of 2024
During the first nine months of 2024, Tunisia's trade exchanges have shown signs of growth, both in terms of exports and imports.
According to the National Institute of Statistics (INS), Tunisian exports have increased by 2.1%, reaching 46,404.6 million dinars. Although this figure is positive, it remains lower than the 7.5% growth observed during the same period in 2023.
Imports, on the other hand, have recorded a modest increase of 0.8%, totaling 59,901.5 million dinars. This represents a recovery, but also a certain caution in trade exchanges.
The trade deficit has slightly decreased, from 13,976.1 million dinars to 13,496.9 million dinars. This indicates better management of external trade and a coverage rate of imports by exports of 77.5%, which is an encouraging signal for the Tunisian economy.
Key Export Sectors
The growth in exports is mainly driven by the agro-food (+28.9%), energy (+26.4%), and mechanical and electrical industries (+0.9%) sectors.
These sectors are showing a positive dynamic, which could indicate an increase in international demand for Tunisian products.
On the other hand, sectors such as mines and phosphates (-24.4%) and textiles (-6.3%) have experienced significant declines.
This highlights the importance of diversifying exports and not relying on a few vulnerable sectors.
Main Export Destinations
The majority of Tunisian exports are directed towards the European Union, representing 69.6% of the total. While trade with certain European countries such as Italy and Spain is on the rise, others like France and Germany are experiencing declines.
Exports to Arab countries have also progressed, particularly to Algeria (+43.3%) and Egypt (+8%), demonstrating a growing interest in Tunisian products in the region.
Challenges Ahead
The trade deficit, although decreasing, remains a concern, particularly due to high energy imports.
Tunisia has recorded significant deficits with countries like China and Russia. However, trade surpluses with countries like France and Germany suggest that certain segments of the Tunisian economy are competitive on an international scale.
