Tunisia's real GDP growth speeded up to 3.2% y/y in Q2 from 2.6% in the previous quarter on higher manufacturing and services output, the statistics office INS said in a statement. GDP growth was also 3.2% a year earlier.
Industrial output, which grew 2.9% y/y in January-May has been recording positive growth over the past eleven months underpinned by strong external demand and related exports. The relatively stable security situation has also helped boost the services output. The mining and quarrying sector, however, remained in the red shrinking 2.6% y/y in Q2.
The manufacturing output grew 4.8% y/y during the quarter lifted by an 18.9% expansion in chemicals and a 4.8% growth in the textiles sector. Food industries also remained strong, rising 4.8% in Q2. Textiles (up 3.0% y/y) and mechanical and electrical appliances (up 2.6%) also helped boost GDP growth in Q2.
Tunisia’s GDP growth will quicken to 4.0% in 2013 from 3.6% the year before, the IMF said in its World Economic Outlook published in April 2013.
Related Articles
Egypt brings new gas well online with 10mn cubic feet/day output
Egypt’s Ministry of Petroleum and Mineral Resources is finalising procedures to bring a new natural gas well, North El-Basant-1, into production with an expected output of around 10mn cubic feet ... more
Tunisia kicks off stalled expansion of solar projects with 1.3GW capacity push
Tunisia is finally accelerating the deployment of its large-scale photovoltaic (PV) sector after years of slow progress, with construction now underway across multiple major projects, PV-Magazine ... more
Shell and Petronas seek 20% gas price increase for Egypt’s West Delta marine phase
UK energy major Shell (LON:SHEL) and Malaysia's national oil and gas company Petronas have asked the Egyptian Natural Gas Holding Company (EGAS) to raise the gas price for the upcoming Phase 12 ... more