Tunisia's trade deficit spirals

African Manager

14-05-2025

As the months go by, Tunisia's trade deficit shows no sign of abating. Since the beginning of the current year, it has been widening visibly, as imports widen their gap with exports.
According to the National Institute of Statistics (INS), during the first four months of 2025, trade at current prices reached 20,725.2 million dinars (MD) on the export side, compared with 21,245.2 MD four months ago, and 28,019.3 MD on the import side.
As a result of this trend in exports (-2.4%) and imports (+7.8%), the trade deficit stood at (-7,294.1 MD) compared to (-4,734.8 MD) in the first four months of 2024. The coverage rate reached a level of (74%) compared with (81.8%) in the same period of 2024.
Agro-food exports plunge -19.2%
By industry, exports of machinery and equipment rose by 2.6%, mining, phosphates and derivatives by 6.1% and textiles, clothing and leather by 0.1%.
On the other hand, exports fell in the energy sector (-33%) as a result of the drop in the country's sales of refined products (105.8 MD against 621.2 MD) and in the food sector (-19.2%) as a result of lower olive oil sales (1,758.6 MD against 2,450.2 MD).
Imports: capital goods lead the way
By product group, imports of capital goods rose by 22.1%, while imports of raw materials and semi-finished goods increased by 11.3%, pointing to future improvements in investment and production capacity. Imports of consumer goods (+15.7%) and food (+0.6%) also increased. Conversely, imports of energy products fell by 14.2%.
Egypt stands out
Tunisian exports to the European Union in the first four months of 2025 (70.1% of total exports) reached the value of 14,524.3 MD compared with 15,069.2 MD in the first four months of 2024.
Exports increased with Germany (+14.3%) and the Netherlands (+10.2%). On the other hand, they fell with France (-1.7%), Italy (-9.4%) and Spain (-33%).
Exports to the Arab countries increased with Libya (+36.5%), Morocco (+45.6%), Algeria (+23.4%) and Egypt (+81.1%).
Imports with the European Union (43.3% of total imports) reached 12,139.6 MD compared with 11,451.6 MD in the first four months of 2002.
Imports increased with France (+12.3%), Italy (+8.2%) and Germany (+10.5%). Conversely, they fell in Greece (-33.6%) and Belgium (-5.3%).
Outside the European Union, imports increased with China (+54.1%) and Turkey (+14.6%). They fell for Russia (-14.1%) and Ukraine (-15.8%).
Trade balance by product
The trade balance showed a deficit (-7,294.1 MD). This deficit is mainly due to energy (-3,683.3 MD), raw materials and semi-finished goods (-2,462.2 MD), capital goods (-1179.6 MD) and consumer non-durables (-602.4 MD). On the other hand, the food group recorded a surplus (+633.3 MD).
On the other hand, it should be noted that the trade deficit excluding energy narrowed to (-3,610.9 MD), while the energy deficit stood at (-3,683.3MD), compared to (-4,026.3MD) in the first four months of 2024.