Tunisia's Trade Balance Shows Slight Improvement in First Seven Months of 2024
According to the latest data published by the National Institute of Statistics (INS), Tunisia's trade balance has shown a slight improvement in the first seven months of 2024.
Exports and Imports on the Rise
Exports have increased by 2.4%, reaching 37,034.9 million dinars (Mtnd), while imports have progressed by 0.6%, amounting to 46,668.2 Mtnd.
Persistent Trade Deficit
Despite this improvement, the trade deficit remains significant, standing at 9,633.3 Mtnd, compared to 10,225.8 Mtnd during the same period in 2023.
Sectors Driving Growth and Those Facing Challenges
The slight growth in exports has been primarily driven by the dynamism of the agro-food sector, which has surged by 39.2%, fueled by increased demand for olive oil. The energy sector (+19.4%) and mechanical and electrical industries (+0.8%) have also contributed positively to this trend.
On the other hand, certain key sectors have posted notable declines. Exports from the mining, phosphates, and derivatives sector have plummeted by 27.9%, while the textile, clothing, and leather sector has recorded a 7.6% drop, highlighting persistent difficulties in these areas.
Imports on the Rise, but Imbalances Persist
The moderate increase in imports is attributed to the rise in purchases of energy products (+16.5%), equipment goods (+1.9%), and consumer goods (+3.7%). These increases have been partially offset by a 5.5% decline in imports of raw materials and semi-finished products, which account for 34% of total imports.
