Economy of Tunisia

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Economy of Tunisia

Amen Bank, one of the biggest banks in the country
Currency	Tunisian dinar (TND, د.ت)
Fiscal year	calendar year
Trade organisations	African Union, AfCFTA (signed), WTO, COMESA, CEN-SAD, AMU
Country group	Developing/Emerging[1] Lower-middle income economy[2]
Statistics
Population	12,352,187 (2023)[3]
GDP	$53.482 billion (nominal est, 2024)[4] $178.928 billion (PPP, 2024)[4]
GDP rank	92nd (nominal, 2024) 81st (PPP, 2024)
GDP growth	4.2% (2021f)[5]
GDP per capita	$4,136 (nominal, est, 2024)[4] $14,294 (PPP, 2024)[4]
GDP per capita rank	(nominal, 2024) (PPP, 2024)
GDP by sector	agriculture: 10.05% industry: 21.69% services: 68.26% (2020)[6]
Inflation (CPI)	6.53% (2022 est.)[4][7]
Population below poverty line	15.2% (2015)[8] 17.5% on less than $5.50/day (2015)[9]
Gini coefficient	32.8 medium (2015)[10]
Human Development Index	0.731 high (2021)[11] (97th) 0.588 medium IHDI (2021)[12]
Labour force	4,080,000 (Q2, 2022)[13] 46% employment rate (Q2, 2022)[14]
Labour force by occupation	agriculture: 14.8% industry: 33.2% services: 51.7% (2014 est.)[6]
Unemployment	15.3% (Q2, 2022)
Average net salary	$360 monthly (2023)[15]
Main industries	petroleum, mining (particularly phosphate, iron ore), tourism, textile, footwear, agriculture, beverages, olive oil
External
Exports	$19.06 billion USD (2019)[16]
Export goods	clothing, semi-finished goods and textiles, agricultural products, mechanical goods, phosphates and chemicals, hydrocarbons, electrical equipment
Main export partners	France 24.8%  Italy 17.2  Germany 13.8%  Spain 3.95%  Libya 3.43%  United States 3.43%  Netherlands 2.24%   Switzerland 2.08%  Turkey 1.59%  United Kingdom 1.51% (2021)[17]
Imports	$21.57 billion USD (2019)[18]
Import goods	textiles, machinery and equipment, hydrocarbons, chemicals, foodstuffs
Main import partners	France 14.9%  Italy 13.2%  China 9.39%  Germany 7%  Turkey 6%  Greece 4.53%  Spain 4.07%  Algeria 3.3%  Azerbaijan 2.48%  United States 2.19 (2021)[17]
FDI stock	$37.95 billion (31 December 2017 est.)[6] Abroad: $285 million (31 December 2017 est.)[6]
Current account	−$2.690 billion (2019)
Gross external debt	$30.19 billion (31 December 2017 est.)[6]
Public finances
Government debt	70.3% of GDP (2017 est.)[6]
Budget balance	−5.8% (of GDP) (2017 est.)[6]
Revenues	10.957 billion (2022 est.)[6]
Expenses	12.523 billion (2022 est.)[6]
Credit rating	Standard & Poor's:[19][20] BBB (Domestic) BBB- (Foreign) BBB (T&C Assessment) Outlook: Negative Moody's:[20] Baa3 Outlook: Negative Fitch:[20] BBB Outlook: Negative
Foreign reserves	$8.5 billion (23 December 2023 est.)[6]
All values, unless otherwise stated, are in US dollars.

The economy of Tunisia is in the process of being liberalized after decades of heavy state direction and participation in the country's economy. Prudent economic and fiscal planning has resulted in moderate but sustained growth for over a decade. Tunisia's economic growth historically has depended on oil, phosphates, agri-food products, car parts manufacturing, and tourism. In the World Economic Forum Global Competitiveness Report for 2015–2016, Tunisia ranks in 92nd place.^[21]

The year 2015 was marked by terrorist attacks in Tunisia which are likely to affect economic growth, especially in tourism, one of the main sectors.^[22]