Creating new perspectives since 2009

Tunisia: trade deficit increases by 57.1% so far this year

August 16, 2022 at 12:37 pm

A man retrieves cash from an ATM in the capital Tunis, Tunisia on March 27, 2020 [FETHI BELAID/AFP via Getty Images]

Tunisia’s trade deficit has increased by 57.1 per cent on an annual basis in the first seven months of this year, Anadolu has reported. The increase comes amid a sharp rise in import costs due to inflation and the rising prices of basic commodities.

According to the Tunisian National Institute of Statistics, the trade deficit — the difference between exports and imports — amounted to 13.70 billion dinars ($4.3bn) compared with 8.72bn dinars ($2.78bn) recorded during the same period last year.

The value of Tunisia’s exports increased by 23.1 per cent on an annual basis to 32.545 bn dinars ($10.4bn) while the value of imports increased by 31.6 per cent, at 46.253bn dinars ($14.78bn).

Tunisia is suffering from an economic and financial crisis exacerbated by the repercussions of the coronavirus pandemic and the Russian war in Ukraine. The country has experienced political instability since President Kais Saied imposed exceptional measures in July last year.

Tunisia: judges celebrate dismissal victory