Trade Deficit Narrows by 23.5% in First Four Months of 2024

According to the latest report on external trade at current prices published by the National Institute of Statistics (INS), the trade deficit has decreased by 23.5% to reach -4772 billion dinars (Mtnd) as of the end of April 2024, compared to -6238.2 Mtnd during the same period last year.

Deficit with Certain Countries

The deficit is primarily attributed to trade with specific countries, including China and Russia, with respective values of -2538.1 Mtnd and -2197 Mtnd. Other countries contributing to the deficit include Algeria, Turkey, Greece, and Ukraine.

Surplus with Other Countries

On the other hand, the trade balance of goods has recorded a surplus, mainly with France, with a value of 1940.2 Mtnd, as well as with other countries such as Italy, Germany, Libya, and Morocco.

Export Growth

Exports have increased by 4.8%, primarily driven by a 56.4% growth in sales in the agro-food industry sector.

Stable Imports

Imports have remained relatively stable, with a decrease of 1.8% compared to the same period in 2023.

Geographical Breakdown

Exports to the European Union, which account for over 70% of total exports, have increased by 2.9%. This growth is attributed to increased exports to several European partners, particularly Spain and Italy, with respective values of 47.6 and 12.3%.

Trade with Arab Countries

The INS report shows a growth in exports to Algeria and Egypt.

Note: Mtnd stands for million Tunisian dinars.