Tunisia Economy Profile 2009

Economy - overview

Tunisia has a diverse economy, with important agricultural, mining, tourism, and manufacturing sectors. Governmental control of economic affairs while still heavy has gradually lessened over the past decade with increasing privatization, simplification of the tax structure, and a prudent approach to debt. Progressive social policies also have helped raise living conditions in Tunisia relative to the region. Real growth, which averaged almost 5% over the past decade, declined to 4.7% in 2008 and probably will decline further in 2009 because of economic contraction and slowing of import demand in Europe - Tunisia's largest export market. However, development of non-textile manufacturing, a recovery in agricultural production, and strong growth in the services sector somewhat mitigated the economic effect of slowing exports. Tunisia will need to reach even higher growth levels to create sufficient employment opportunities for an already large number of unemployed as well as the growing population of university graduates. The challenges ahead include: privatizing industry, liberalizing the investment code to increase foreign investment, improving government efficiency, reducing the trade deficit, and reducing socioeconomic disparities in the impoverished south and west.

GDP (purchasing power parity)

$81.71 billion (2008 est.)
$78.27 billion (2007 est.)
$73.49 billion (2006 est.)
note: data are in 2008 US dollars

GDP (official exchange rate)

$40.35 billion (2008 est.)

GDP - real growth rate

4.4% (2008 est.)
6.5% (2007 est.)
5.3% (2006 est.)

GDP - per capita (PPP)

$7,900 (2008 est.)
$7,600 (2007 est.)
$7,200 (2006 est.)
note: data are in 2008 US dollars

GDP - composition by sector

agriculture: 10.5%
industry: 37%
services: 52.5% (2008 est.)

Population below poverty line

7.4% (2005 est.)

Labor force

3.66 million (2008 est.)

Labor force - by occupation

agriculture: 55%
industry: 23%
services: 22% (1995 est.)

Unemployment rate

14.1% (2008 est.)
14.1% (2007 est.)

Household income or consumption by percentage share

lowest 10%: 2.3%
highest 10%: 31.5% (2000)

Distribution of family income - Gini index

40 (2005 est.)
41.7 (1995 est.)

Investment (gross fixed)

21.8% of GDP (2008 est.)

Budget

revenues: $9.843 billion
expenditures: $11.3 billion (2008 est.)

Public debt

48.4% of GDP (2008 est.)
59.2% of GDP (2004 est.)

Inflation rate (consumer prices)

5% (2008 est.)
3.1% (2007 est.)

Stock of money

$9.892 billion (31 December 2008)
$9.491 billion (31 December 2007)

Stock of quasi money

$14.72 billion (31 December 2008)
$13.56 billion (31 December 2007)

Stock of domestic credit

$26.5 billion (31 December 2008)
$25.23 billion (31 December 2007)

Industries

petroleum, mining (particularly phosphate and iron ore), tourism, textiles, footwear, agribusiness, beverages

Industrial production growth rate

2.7% (2008 est.)

Electricity - production

12.65 billion kWh (2006 est.)

Electricity - production by source

fossil fuel: 99.5%
hydro: 0.5%
nuclear: 0%
other: 0% (2001)

Electricity - consumption

10.75 billion kWh (2006 est.)

Electricity - exports

135 million kWh (2006 est.)

Electricity - imports

0 kWh (2007 est.)

Oil - production

86,210 bbl/day (2007 est.)

Oil - consumption

91,110 bbl/day (2006 est.)

Oil - imports

89,130 bbl/day (2005)

Oil - exports

73,790 bbl/day (2005)

Oil - proved reserves

400 million bbl (1 January 2008 est.)

Natural gas - production

2.55 billion cu m (2006 est.)

Natural gas - consumption

3.85 billion cu m (2006 est.)

Natural gas - exports

0 cu m (2007 est.)

Natural gas - imports

0 cu m (2005)

Natural gas - proved reserves

65.13 billion cu m (1 January 2008 est.)

Current Account Balance

-$1.755 billion (2008 est.)
-$904 million (2007 est.)

Agriculture - products

olives, olive oil, grain, tomatoes, citrus fruit, sugar beets, dates, almonds; beef, dairy products

Exports

$19.22 billion (2008 est.)
$15.15 billion (2007 est.)

Exports - commodities

clothing, semi-finished goods and textiles, agricultural products, mechanical goods, phosphates and chemicals, hydrocarbons, electrical equipment

Exports - partners

France 28.4%, Italy 18%, Germany 9.6%, Libya 5.8%, Spain 5% (2008)

Imports

$23.23 billion (2008 est.)
$18.02 billion (2007 est.)

Imports - commodities

textiles, machinery and equipment, hydrocarbons, chemicals, foodstuffs

Imports - partners

France 22.4%, Italy 20.1%, Germany 9.4%, Libya 4.8%, Spain 4.6% (2008)

Reserves of foreign exchange and gold

$8.853 billion (31 December 2008 est.)
$7.854 billion (31 December 2007 est.)

Debt - external

$20.81 billion (31 December 2008)
$20.4 billion (31 December 2007)

Stock of direct foreign investment - at home

$28.67 billion (31 December 2008 est.)
$26.22 billion (31 December 2007 est.)

Stock of direct foreign investment - abroad

$130 million (31 December 2008 est.)
$118 million (31 December 2007 est.)

Market value of publicly traded shares

$6.374 billion (31 December 2008)
$5.355 billion (31 December 2007)
$4.446 billion (31 December 2006)

Economic aid - recipient

$376.5 million (2005)

Currency (code)

TND

Currency (code)

Tunisian dinar (TND)

Exchange rates

Tunisian dinars (TND) per US dollar - 1.211 (2008 est.), 1.2776 (2007), 1.331 (2006), 1.2974 (2005), 1.2455 (2004)

Fiscal year

calendar year