Tunisia's FDI jumps 84% y/y to $398mn in January-April

By bne IntelliNews May 22, 2015

Tunisia’s external position has so far remained resilient following the successful conclusion of the painstaking transition period with foreign direct investment (FDI) inflows jumping 84% y/y to TND771mn ($398mn) in the first four months of the year, preliminary figures from the investment promotion agency showed.

Despite the prior-year low base, which is also fuelling growth, the reading implies rebounding investor sentiment and the government’s efforts to facilitate the business climate in the country.

Nearly TND582mn worth of FDI went into the real economy (up 48% y/y) and TND190mn were invested on the local bourse, up 629% y/y.

Another good news is that FDI into the energy sector climbed 12.8% y/y to TND330mn in January-April following a period of contraction thus remaining the main contributor to the total FDI into the real sector with a 57% share.

Foreign inflows into the manufacturing industries jumped 78% y/y to TND149mn, mainly due to a low prior-year base and rising GCC inflows. The services sector lured TND101mn of FDI over the period, marking a 449% annual expansion also due to a low prior-year base.

FDI into Tunisia brings real value-added to the economy and helps boost employment. The government is eagerly seeking to create new jobs for the rapidly expanding young population with high education.

Tunisia’s unemployment rate stood at 15.0% in the fourth quarter of 2014, ticking down from 15.1% in Q3 and 15.3% at end-2013, according to the latest official data. Yet, the jobless rate among people with higher education reached 30.4% at end-2014.

Related Articles

Ankara and Tehran join wave of anger directed at Trump’s recognition of Jerusalem as Israel’s capital

US President Donald Trump's December 6 announcement that his administration has decided to unilaterally recognise Jerusalem as Israel's capital was described as “against international law” by ... more

Islamic State is finished declares Iran's President Rouhani

Iranian President Hassan Rouhani on November 21 declared the end of the so-called Islamic State militant and terrorist group following decisive battles in Iraq and Syria. Stating that he wished to ... more

Turkey the loser as Baghdad rewards Iran with control of Kurdish oil exports

Iran is taking control of oil exports from Iraqi Kurdistan's giant Kirkuk field with Baghdad authorising the move as a reward for the Iranians' help in quelling the Kurds' late September push for ... more