Econostrum | Economic News in the Mediterranean

Tunisia has a deficit of 16.2 billion dinars in its trade balance in 2021

Written by Eric Apim on Thursday, January 13th 2022 à 11:45 | Read 294 times

TUNISIA. With exports and imports on the rise, Tunisia has a trade balance deficit of 16.21 billion dinars or €4.97 billion in 2021 (compared to -12.75 billion dinars in 2020).

According to the figures published by the National Institute of Statistics (INS) on Wednesday 12 January 2022, exports recorded an increase of 20.5% (against a fall of 11.7% in 2020) to reach 46.65 billion dinars (14.30 billion euros). 70.2% of them went to the European Union, an increase of 13.9% between 2020 and 2021. "This development is explained, on the one hand, by the increase in our exports to some European partners, such as France (+10.7%), Italy (+31.4%) and Germany (+24.9%); and on the other hand, by the decline in our sales to other countries, including Spain (-16.4%) and Greece (-5.6%), "says the INS in its survey. Exports are also progressing with Libya (+43.5%) and Morocco (+24.5%) but show a strong decrease with Algeria (-20.2%).

The strongest increases were in the energy (+39%), mining, phosphates and derivatives (+83.2%), mechanical and electrical industries (+21.9%) and to a lesser extent textiles, clothing and leather (+14.4%) sectors. The most affected were the exports of the agro-food industries, which fell by 3.9%.

The EU accounts for 47.7% of total imports

The deficit of 2021 causes a loss of one point of coverage (graphs: NSI)
The deficit of 2021 causes a loss of one point of coverage (graphs: NSI)
Imports have soared similarly to exports with an increase of 22.2% (-18.7% in 2020) to 62.86 billion dinars (19.27 bn €) based mainly on raw materials and semi-finished products (+29.7%), energy (+29.3%), consumer goods (+17%) and capital goods (+16%). The European Union accounted for 47.7% of total imports, i.e. 30.01 billion dinars (9.21 billion euros), with an increase of 16.9% compared to 2020. It is particularly attributed to trade with Italy (+15.8%), Germany (+15.4%) and France (+9%).

From one year to the next, the coverage rate falls by one point, from 75.2% in 2020 to 74.2% in 2021. China (- 6.32 billion dinars), Turkey (- 2.65 billion), Algeria (-1.55 billion) and Russia (-1.44 billion) show the largest trade deficits with Tunisia. Conversely, France (+4 billion dinars), Germany (+1.86 billion) and Libya (+1.58 billion) bring a surplus.

Over the whole year 2021, the balance of trade excluding energy is reduced to -10.99 billion dinars (3.36 billion €) and that of the energy balance is established at -5.21 billion (1.59 billion € or 32.2% of the total deficit) against - 4.2 billion (1.29 billion €) in 2020.

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