Tunisia Economy Profile 2008

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, reached 6.3% in 2007 because of development in non-textile manufacturing, a recovery in agricultural production, and strong growth in the services sector. However, 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. Broader privatization, further liberalization of the investment code to increase foreign investment, improvements in government efficiency, and reduction of the trade deficit are among the challenges ahead.

GDP (purchasing power parity)

$77.16 billion (2007 est.)

GDP (official exchange rate)

$34.54 billion (2007 est.)

GDP - real growth rate

6.3% (2007 est.)

GDP - per capita (PPP)

$7,500 (2007 est.)

GDP - composition by sector

agriculture: 11.5%
industry: 30%
services: 58.5% (2007 est.)

Population below poverty line

7.4% (2005 est.)

Household income or consumption by percentage share

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

Inflation rate (consumer prices)

2.9% (2007 est.)

Investment (gross fixed)

23.6% of GDP (2007 est.)

Labor force

3.591 million (2007 est.)

Labor force - by occupation

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

Unemployment rate

13.9% (2007 est.)

Distribution of family income - Gini index

40 (2005 est.)

Budget

revenues: $8.355 billion
expenditures: $9.476 billion (2007 est.)

Public debt

54.5% of GDP (2007 est.)

Industries

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

Industrial production growth rate

4.1% (2007 est.)

Electricity - production

12.85 billion kWh (2005)

Electricity - consumption

11.17 billion kWh (2005)

Electricity - exports

0 kWh (2005)

Electricity - imports

0 kWh (2005)

Oil - production

76,900 bbl/day (2005 est.)

Oil - consumption

90,000 bbl/day (2005 est.)

Oil - imports

85,680 bbl/day (2004)

Oil - exports

75,060 bbl/day (2004)

Oil - proved reserves

307.6 million bbl (1 January 2006 est.)

Natural gas - production

2.398 billion cu m (2005 est.)

Natural gas - consumption

4.124 billion cu m (2005 est.)

Natural gas - exports

0 cu m (2005 est.)

Natural gas - imports

1.726 billion cu m (2005)

Natural gas - proved reserves

74.68 billion cu m (1 January 2006 est.)

Current Account Balance

-$935 million (2007 est.)

Agriculture - products

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

Exports

$14.81 billion f.o.b. (2007 est.)

Exports - commodities

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

Exports - partners

France 28.9%, Italy 20.4%, Germany 8.6%, Spain 6.1%, Libya 4.9%, US 4% (2006)

Imports

$17.9 billion f.o.b. (2007 est.)

Imports - commodities

textiles, machinery and equipment, hydrocarbons, chemicals, foodstuffs

Imports - partners

France 25%, Italy 21.9%, Germany 9.7%, Spain 4.9% (2006)

Reserves of foreign exchange and gold

$7.183 billion (31 December 2007 est.)

Debt - external

$18.56 billion (December 2007)

Stock of direct foreign investment - at home

$21.22 billion (2006 est.)

Stock of direct foreign investment - abroad

$57 million (2006 est.)

Market value of publicly traded shares

$4.446 billion (2006)

Economic aid - recipient

$376.5 million (2005)

Currency (code)

Tunisian dinar (TND)

Exchange rates

Tunisian dinars per US dollar - 1.2776 (2007), 1.331 (2006), 1.2974 (2005), 1.2455 (2004), 1.2885 (2003)

Fiscal year

calendar year