Tunisia’s GDP growth ticks down to 2.3% y/y in Q4, averages 2.6% in 2013

By bne IntelliNews February 20, 2014

Tunisia's real GDP growth cooled to 2.3% y/y in the fourth quarter of 2013 from 2.4% in Q3 on shrinking agriculture and oil and gas output, the statistics office INS said in a flash statement. In 2013, real GDP growth reached 2.6% y/y, retreating from 3.6% the year before. The reading undershoots the EBRD’s forecast of 2.9% GDP growth in 2013 and the IMF’s 3.0% projection. The slowdown reflects weaker domestic and external demand, and the sharp impact of social unrest on production, especially in the mining and energy sectors.

Political and security developments in Tunisia have weighed on the economic activity in 2013. The economic activity will likely not recover before 2015 as the transition period has taken much longer time, according to central banker Chedly Ayari. 

The 2014 draft budget tables 4.0% GDP growth.

The manufacturing sector remained strong in Q4 2013, expanding by 3.1% y/y. The output was supported by a 3.9% y/y growth in the textile and clothing sector, a 1.2% rise in the mechanical and electrical industries and a 13.9% expansion in the chemical sector. The mining and energy sector, however, shrank 4.2% y/y in Q4 on lower phosphate output and strikes in exploration sites. The agriculture output dropped 4.1% y/y in Q4 widening from 3.9% contraction the previous quarter on poor harvest. 

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Trump warns US pullout from "horrible" Iran nuclear deal might still be ahead

US President Donald Trump on October 16 warned that the termination of the Iran nuclear deal is still a clear possibility even though he ... more

Pentagon chief suggests staying in Iran nuclear deal is in US interests

US Defence Secretary Jim Mattis on October 3 told the Senate Armed Services Committee that it currently appears to be in the strategic interest of Washington to remain in the Iran nuclear deal. ... more

Iran will in six years accept stricter nuclear inspections if US behaves, says foreign minister

Iran’s foreign minister has said the country is willing to formally accept a tougher nuclear inspection regime in six years. However, Mohammad Javad Zarif continued to rule out any renegotiation of ... more

Most Read

  1. Moldova's Ascom moves ahead with recovering $500mn from Kazakh state
    7 days ago
  2. INTERVIEW: The quiet thunder of Ruben Vardanian
    9 days ago
  3. INTERVIEW: de Villepin says Ukraine should declare itself neutral
    9 days ago
  4. KRUK REPORT: Is Ukraine changing its Donbas policies?
    4 days ago
  5. MOSCOW BLOG: Russia’s import substitution has not been a great success
    7 days ago
  1. STOLYPIN: Russia balances wargames with mindgames in Zapad exercises
    27 days ago
  2. Russia to bring in record breaking harvest of 127mn tonnes
    18 days ago
  3. Investors ask which Russian bank domino will be the next to topple
    24 days ago
  4. Eastern Europe’s blockchain revolution
    12 days ago
  5. INTERVIEW: de Villepin says Ukraine should declare itself neutral
    9 days ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

Dismiss