Tunisia's Trade Balance Worsens in 2024
The latest data published by the National Institute of Statistics (INS) paints a bleak picture of Tunisia's trade balance in 2024. Despite a slight increase in exports, which reached 62,077.6 million dinars, imports continued to rise, reaching 81,005.2 million dinars. This imbalance has led to a widening of the trade deficit, which now stands at 18,927.6 million dinars.
This situation is all the more worrying because the coverage rate, which measures the ratio of exports to imports, has slightly decreased compared to 2023, falling from 78.4% to 76.6%. This means that Tunisia is still importing more than it exports, putting pressure on its foreign exchange reserves and weakening its balance of payments. The causes of this deterioration are multiple and complex, but they are partly linked to the rise in prices of imported raw materials and the weakness of competitiveness in certain sectors of the Tunisian economy.
To remedy this situation, it is urgent to implement economic policies aimed at diversifying exports, developing local industries, and promoting foreign direct investment. Such a strategy would not only reduce the trade deficit but also strengthen economic growth and create employment.
