Tunisia, Economy and Foreign Trade


With a population of 11.8 million inhabitants, Tunisia is the smallest country in the Maghreb region, also known as Northwest Africa. The region includes Algeria, Libya, Mauritania, Morocco and Tunisia.

The Tunisian economy is in the process of diversification and reform, in order to address unemployment rate and public debt. Ties with the European market, Tourism potential and natural resources are the drivers to boost Tunisian recovery.

 

With regard to foreign trade, Tunisia was the 75th largest exporting economy in 2020, with a total of $13.98 billion, according International Trade Centre.

Behind the Democratic Republic of the Congo (74) with $14.1 billion and followed by Azerbaijan (76) with 13.7 billion. The countries within its geographical area of influence like Morocco, Egypt and Algeria were placed in positions 61st, 62nd and 66th respectively.

Imports reached 16.27 billion in 2020. The trade balance deficit stood at 2.28 billion.

Tunisia Trade in Goods Export Wings

 

In 2020, the top exports of Tunisia was:

  1. Wires, cables, coaxial, and other conductors: $1.8 billion (12%)
  2. Olive oil: $883 million (6%)
  3. Textile (Suits, long pants): $848 million (6%)
  4. Textile (Dresses, skirts): $547 million (4%)
  5. Parts for tractors, motor vehicles for transportation: $399 million (3%)

 

As for the imported products in 2020, the top 5 of imports was:

  1. Petroleum or bituminous mineral oils: $1.03 billion (5%)
  2. Wheat: $466 million (2%)
  3. Cars and other vehicles: $464 million (2%)
  4. Switches, relays, circuit breakers: $451 million (2%)
  5. Wires, cables, coaxial, and other conductors: $394 million (2%)

 

The main destinations of exports were:

  • France 29%
  • Italy 16%
  • Germany 13%
  • Spain 4%
  • Libya 4%

 

The main origins of imports were:

  • Italy 15%
  • France 14%
  • China 9%
  • Germany 7%
  • Algeria 7%

 

In 2020, GDP per capita (PPP) was $3,320 and GDP reached $39.23 billion.

Tunisia GDP per capita Export Wings

In the period 2015-2019 GDP grew by 1.6% on average per year.

Tunisia GDP Growth Export Wings

 

Useful information:

 

Need more information about the Tunisian market, please contact me xavireverter@exportwings.com. Data from 2020, other years are stated.

 

Sources:

 

Photo by Haythem Gataa on Unsplash

You may also like