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The Star
3 days ago
- Business
- The Star
Tunisia Q2 GDP grows 3.2 pct as agriculture, manufacturing boost output
TUNIS, Aug. 15 (Xinhua) --Tunisia's economy grew 3.2 percent year-on-year in the second quarter of 2025, driven by strong performances in agriculture and manufacturing, the National Institute of Statistics (INS) said on Friday. GDP reached 24.8 billion Tunisian dinars (around 8.6 billion U.S. dollars) in the quarter, according to the INS's quarterly report. Total GDP for 2024 was 96.5 billion dinars. Agriculture expanded 9.8 percent, manufacturing grew 3.9 percent, domestic demand rose 3.3 percent and services increased 1.9 percent, according to the data. Exports fell 9.6 percent in the second quarter, while imports rose 8.9 percent, the INS said.
African Manager
5 days ago
- Business
- African Manager
Trade deficit continues to widen further
Has Tunisia's trade balance deficit become totally out of control? It would be hard not to think so in view of the succession of episodes of worsening of this deficit, the latest of which has just been recorded, Tuesday, by the National Institute of Statistics, which announced that the trade deficit at current prices widened at the end of July 2025, to -11,904.5 million dinars, against -9,631.8 million dinars during the first seven months of 2024. Therefore, the coverage rate reached 75.6% against 79.4% during the same period in 2024. According to a note published by the INS, this deficit comes mainly from energy (-6,037.2 million dinars), raw materials and semi-finished products (-3,800.4 million dinars), capital goods (-1,959.6 million dinars) and consumer goods (-930.7 million dinars). Conversely, the food group recorded a surplus of (+823.4 million dinars). On the other hand, it should be noted that the trade balance deficit excluding energy was reduced to (-5,867.4 million dinars), while the energy balance deficit stood at (-6,037.2 million dinars), against (-6,591.7 million dinars) during the first seven months of the year 2024. Exports fall by 0.2% The results of Tunisia's foreign trade at current prices during the first seven months of 2025 show that exports fell by 0.2% to.36,973.4 million dinars, from 37,034.9 million dinars during the same period in 2024. By sector, exports recorded an increase in the mining, phosphates and derivatives sector (+8.6%) and in the mechanical and electrical industries sector (+6.5%). Moreover, exports recorded a decrease in the energy sector (-34.8%) due to the drop in sales of refined products (381.3 million dinars against 1,143.1 million dinars), as well as in the agri-food industries sector (-17.5%) following the fall in the value of olive oil sales (2,506.1 million dinars against 3,636.2 million dinars) and in the textile, clothing and leather sector (-0.2%). For Tunisian exports to the European Union, during the first seven months of the year 2025 (70.6% of total exports), they reached the value of 26,120.1 million dinars against 25,914.6 million dinars during the first seven months of the year 2024. Exports increased with Germany (+15.4%), France (+7.5%) and the Netherlands (+11.8%). Conversely, they decreased with Italy (-9.4%) and Spain (-30.4%). To Arab countries, exports increased with Libya (+12.5%), Morocco (+38.5%), Algeria (+20.8%) and Egypt (+48.9%). Imports rise 4.7% As for imports, they reached the level of 48,877.9 million dinars against 46,666.7 million dinars during the same period of the year 2024, thus recording an increase of 4.7%. According to the breakdown of products, imports recorded an increase in imports of capital goods (+18.6%) and of raw materials and semi-finished products (+6.6%); likewise, imports of consumer goods rose by (+12.1%). Conversely, imports of energy products recorded a decrease of (-14.9%) and food products of (-5.1%). With regard to imports from the European Union (44.2% of total imports), they reached 21,591.4 million dinars against 20,639.5 million dinars during the first seven months of the year 2024. Imports increased with France (+12.7%) and with Germany (+10.3%). Conversely, they fell with Italy (-0.7%), with Greece (-29.7%) and with Belgium (-7.6%). Outside the European Union, imports increased with China (+37.2%) and Turkey (+14.9%). Conversely, they recorded a decrease with Russia (-21.9%) and India (-9.2%).
Daily Mirror
10-08-2025
- Daily Mirror
Huge blow to Canary Islands as tourists ignore 'bleak' warning
Despite a wave of anti-tourist protests across Spain in May, international tourism to the country and its islands has reached record-setting heights - with British tourists leading the pack It seems the threat of protests and a lukewarm reception have not been enough to deter holidaymakers from the Canary Islands. In June 2025, the Islands recorded their highest-ever number of international visitors, according to the latest data from the National Institute of Statistics (INE). As reported by Canarian Weekly, the overwhelming tourist flux in June pushed the total number of international arrivals to 7.84 million, an increase of 4% compared to the same period last year. The tourist arrivals also increased spending on the Islands, with international visitors contributing €1.56 billion (£1.35bn) to the Canarian economy in June, nearly 8.5% more than last year. The boom in tourism is not isolated to the Canary Islands, however. Despite major anti-tourist protests in May, international tourism has risen across Spain. The country welcomed 44.5 million tourists in the first half of 2025, with the Canary Islands ranking as the second most visited region so far this year. It comes after a heatwave forecast with maps reveals the exact date a 39C heat plume will scorch the UK. In June specifically, the Balearic Islands were the top destination in Spain, drawing nearly 24% of all international tourists. The Balearics were followed by Catalonia, Andalusia, the Canary Islands respectively. In the lead up to peak tourist season, fed up Canary Island locals made their frustrations clear when an estimated 7,000 people marched through the streets and promenades in Santa Cruz, the capital of Tenerife, in mid-May. The massive protests were echoed on each of the territory's six other islands, including Lanzarote, Gran Canaria and Fuerteventura, with organisers saying the Spanish islands "have a limit". As part of the protests, huge crowds invaded seafronts and beaches, with a large crowd of holidaymakers lining the route as spectators. The Canary Islands' campaigners protested the mass tourism model that supports the economy of the islands. One of the slogans chanted during the demonstrations was: "El dinero del turismo, donde está?" The phrase translates to: "The money from tourism, where is it?". Protesters could be heard blowing through shell-like horns to create loud noises while banging on drums, chanting slogans critical of the local tourism industry. That said, based on the INE data, tourists are spending less time in Spain, with the average stay dropping to 6.6 days (down 2.8%). This is may represent a desire for higher value tourism. The UK continues to be Spain's top source of tourists, with nearly 9 million Britons visiting so far this year, followed by Germany and France. British tourists also account for the highest spending, making up 17.6% of all international tourist spending in Spain. While tourism continues to drive economic growth in the Canary Islands, concerns around overcrowding, housing pressure, and low wages remain pressing. Central demands from campaigners include a tourist moratorium, the implementation of an eco tax, and strict new regulation on holiday rentals - especially on platforms like Airbnb.
African Manager
12-07-2025
- Business
- African Manager
The runaway spiral of Tunisia's trade deficit
Tunisia's foreign trade reached 31,773.7 million dinars (MD) in exports and 41,674.2 MD in imports, in the first half of 2025, There was no relief for Tunisia's trade deficit during this period. Exports slightly decreased to 31,773.7 MD (from 31,953.8 MD in H1 2024), while imports rose to 41,674.2 MD (from 39,971.2 MD). As a result of this export decline (-0.6%) and import increase (+4.3%), the trade deficit widened to -9,900.5 MD, compared to -8,017.4 MD during the same period in 2024. The coverage rate fell to 76.2% (down from 79.9%), according to the National Institute of Statistics (INS). By sector, exports in the mining, phosphates, and derivatives sector increased by (+11.2%), the mechanical and electrical industries sector by (+6.2%), and the textiles, clothing, and leather sector by (+0.4%). In contrast, exports declined in the energy sector by (-36.3%) due to reduced sales of refined products (245.6 million dinars compared to 950.4 million dinars), as well as in the agri-food industry sector by (-19.1%) following a drop in olive oil sales (2,346.6 million dinars compared to 3,406 million dinars). By product category, imports increased in capital goods (+17.6%), raw materials and semi-finished products (+6.2%), and consumer goods (+11.6%). On the other hand, imports of energy products decreased by (-16.3%), and food products declined by (-2%). Exports to Egypt surge by 44.7% Tunisian exports to the European Union during the first half of 2025 (representing 70.3% of total exports) reached 22,348.9 MD, compared to 22,332.6 MD in the same period of 2024. Exports increased to Germany (+15.2%), France (+4.8%) and the Netherlands (+12.4%). However, they fell to Italy (-7.1%) and Spain (-31.9%). In Arab countries, exports rose to Libya (+18.7%), Morocco (+40.9%), Algeria (+27.8%) and Egypt (+44.7%). Regarding imports from the European Union (44% of total imports), they reached 18,354 MD in the first half of 2025, compared to 17,601.9 MD during the same period in 2024. Imports increased from France (+13.4%), Italy (+1.4%) and Germany (+10.6%). However, they decreased from Greece (-28.5%) and Belgium (-4.1%). Outside the EU, imports rose from China (+37.7%) and Turkey (+15.4%), while they declined from Russia (-20.1%) and India (-16.5%). Deficit Driven Mainly by Energy The trade balance recorded a deficit of -9,900.5 MD), primarily due to the energy sector: -5,214.8 MD, raw materials & semi-finished goods: -3,257.9 MD, capital goods: -1,588.1 MD and consumer goods: -663.8 MD. In contrast, the food products group posted a surplus of +824.1 MD. It should be noted that the non-energy trade deficit narrowed to -4,685.7 MD. The energy trade deficit stood at -5,214.8 MD, compared to -5,794.1 MD in the first half of 2024.
African Manager
09-07-2025
- Business
- African Manager
Tunisia: Prices still rising but at slower pace, says expert
Academic and economist Habib Zitouna explained that consumer price inflation is measured monthly by the National Institute of Statistics (INS) and that a survey of the Tunisian consumer is conducted every five years by tracking the consumption of several families over an entire year, while monitoring the evolution of the prices of goods and services. Thus, inflation corresponds to the average growth of prices, weighted by average consumption. He added that the inflation rate is calculated year-over-year and currently stands at 5.4% compared to the previous year, specifying that prices have not decreased, but rather that the pace of their increase has slowed. In February 2023, Tunisia had reached a record inflation rate of over 10%, an unprecedented level in 40 years. Speaking to Expresso on Monday, July 7, 2025, Zitouna emphasized that the inflation rate should be lower, noting that 5% remains a high rate for several reasons. He explained that inflation is linked to the increase in the money supply, that is, the amount of money in circulation and in banks. Inflation occurs when the money supply exceeds production. In this case, the money supply increased by 15%, which poses a significant risk. He noted that the inflation rate rose by 0.4% in June compared to May, and that the 5.4% rate is in comparison to June 2024. This figure is an average, as some prices increased more sharply, particularly **food products, with an approximate increase of 6%, especially fresh vegetables and fruits, whose prices rose by more than 20%. This is due to higher demand than supply, problems in distribution channels and rising prices in cafés and hotels. He stressed the need to reduce the inflation rate, while clarifying that a drop in prices can be more dangerous than an increase, but that any increase must remain moderate. Zitouna mentioned the possibility of imported inflation, but believed that the dinar has remained relatively stable in recent years and that the real issue in Tunisia is the budget deficit. He pointed out that banks borrowed 14.6 billion dinars from the Central Bank, highlighting the connection between this and inflation rates and reiterating that reducing inflation requires budgetary stability and a reduction of the deficit, according to Express FM.
