Tunisia's External Accounts Deteriorate in 2025
Despite the continued recovery of the tourism sector and the increase in transfers from Tunisians living abroad, Tunisia's external accounts deteriorated in 2025. According to the Central Bank of Tunisia's (BCT) 2025 annual report, the current account deficit stood at 4.038 billion dinars, equivalent to 2.3% of GDP, compared to 2.576 billion dinars and 1.6% of GDP the previous year.
Deterioration of the Trade Deficit
This development is mainly explained by the worsening of the trade deficit, which reached 21.8 billion dinars (FOB-CAF), an increase of 15.2% year-on-year. Imports rose by 5.5% to 85.5 billion dinars, while exports only increased by 2.6% to 63.7 billion dinars. The Central Bank highlights that this widening is essentially due to a volume effect: imports grew much faster than exports. The terms of trade also deteriorated by 2%, due to a 1.5% decline in export prices combined with a 0.5% increase in import prices.
Support from Tourism and Remittances
In the face of this deterioration, several sources of foreign exchange continued to support the external accounts. The main driver remains tourism. Tourist receipts increased by 7.1% to reach 8.137 billion dinars. Tunisia welcomed over 11 million visitors, a 10.4% increase, while non-resident overnight stays rose by 9.2% to 23.3 million.
Remittances from Tunisians Abroad
Another determining factor is the income of Tunisians working abroad. Labor income increased by 15.2% to reach 11.445 billion dinars, accounting for nearly 80% of the income balance receipts. Overall, the surplus of this balance reached 6.696 billion dinars, compared to 5.125 billion in 2024. The services balance continues to play a crucial role, with a surplus of 23.796 billion dinars, thanks in particular to the growth of manufacturing activities carried out on behalf of foreign companies and travel receipts.
