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.
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