Official figures have shown a decrease in Tunisia’s trade deficit during the first half of this year to 8 billion dinars, compared to 8.6 billion dinars during the same period in 2023. However, the deficit is still significantly impacted by the energy trade deficit, which stands at 5.7 billion dinars.
According to a statement from Tunisia’s National Institute of Statistics, “the import coverage ratio by exports until June recorded an improvement of about 1.6 points compared to the same period in 2023, reaching 79.7%,” as reported by Tunisia Africa News Agency.
The value of the country’s exports has increased on an annual basis by 2.2%, reaching 31.9 billion dinars in June, compared to about 31.2 billion dinars during the same period in 2023.
Furthermore, the value of imports in the first half of 2024 rose by 0.04% to reach 39.930 billion dinars, despite having registered a slight decline during the same period in 2023.
Tunisia’s economic situation has shown some signs of stabilization in 2024, but challenges remain due to ongoing financial pressures and the impact of external factors. On a broader economic scale, Tunisia faces substantial challenges, including a slow recovery post-COVID-19, affected by factors like a severe drought and tight financing conditions. These issues have kept economic growth rates below regional averages, making it one of the slowest recoveries in the MENA region. The government’s efforts to balance fiscal consolidation with the need to stimulate growth have been crucial, especially in managing the public sector’s borrowing and its impact on private sector financing.
Additionally, Tunisia’s draft budget for 2024 reflects an attempt to maintain social stability by preserving subsidies on essential goods while slightly increasing taxes in some sectors to manage economic pressures.
