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The Economy of Tunisia

Tunisian Economy

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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, declined to 4.7% in 2008 and probably will decline further in 2009 because of economic contraction and slowing of import demand in Europe - Tunisia's largest export market. However, development of non-textile manufacturing, a recovery in agricultural production, and strong growth in the services sector somewhat mitigated the economic effect of slowing exports. 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. The challenges ahead include: privatizing industry, liberalizing the investment code to increase foreign investment, improving government efficiency, reducing the trade deficit, and reducing socioeconomic disparities in the impoverished south and west.

GDP:

GDP - real growth rate: 4.7% (2008 est.) 6.3% (2007 est.) 5.4% (2006 est.)

GDP - per capita:

GDP - composition by sector: agriculture: 10.8% industry: 28.3% services: 61% (2008 est.)

Population below poverty line:

Household income or consumption by percentage share: lowest 10%: 2.3% highest 10%: 31.5% (2000)

Distribution of family income - Gini index: 40 (2005 est.)

Inflation rate (consumer prices):

Labor force: 3.676 million (2008 est.)

Labor force - by occupation: agriculture: 55% industry: 23% services: 22% (1995 est.)

Unemployment rate: 14% (2008 est.)

Budget: revenues: $9.652 billion expenditures: $11.03 billion (2008 est.)

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

Industrial production growth rate: 4.5% (2008 est.)

Electricity - production: 12.65 billion kWh (2006 est.)

Electricity - production by source:

Electricity - consumption: 10.75 billion kWh (2006 est.)

Electricity - exports: 135 million kWh (2006 est.)

Electricity - imports: 0 kWh (2007 est.)

Oil - production: 86,210 bbl/day (2007 est.)

Oil - consumption: 91,110 bbl/day (2006 est.)

Oil - exports: 73,790 bbl/day (2005)

Oil - imports: 89,130 bbl/day (2005)

Oil - proved reserves: 400 million bbl (1 January 2008 est.)

Natural gas - production: 2.55 billion cu m (2006 est.)

Natural gas - consumption: 3.85 billion cu m (2006 est.)

Natural gas - exports: 0 cu m (2007 est.)

Natural gas - imports: 0 cu m (2005)

Natural gas - proved reserves: 65.13 billion cu m (1 January 2008 est.)

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

Exports: $19.7 billion f.o.b. (2008 est.)

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

Exports - partners: France 31.3%, Italy 21%, Germany 8.5%, Spain 5.5%, Libya 5.5% (2007)

Imports: $23 billion f.o.b. (2008 est.)

Imports - commodities: textiles, machinery and equipment, hydrocarbons, chemicals, foodstuffs

Imports - partners: France 23.8%, Italy 21.9%, Germany 9.7%, Spain 5%, Libya 4.4% (2007)

Debt - external: $19.33 billion (31 December 2008 est.)

Economic aid - recipient:

Currency:

Currency code:

Exchange rates: Tunisian dinars (TND) per US dollar - 1.211 (2008 est.), 1.2776 (2007), 1.331 (2006), 1.2974 (2005), 1.2455 (2004)

Fiscal year: