Tunisia’s industrial production dropped 0.8% y/y in the first three months of the year, slightly improving from a 0.9% y/y contraction at end-February, as manufacturing industries, which have the largest weight in the index, remained in the red, the statistics office, INS, said. Tunisia’s industrial output rose 2.2% y/y in Q1 2013.
Overall manufacturing output (77.7% of the index) fell 1.0% y/y in January-March (down 1.1% at end-February) dragged down by a 12.2% y/y contraction in food and agriculture production. Chemicals production grew 5.3% y/y in Q1 but slowed from a 14.3% y/y growth in January-February. Strong EU and regional demand for fertilisers continue to support the reading.
A strong EU demand also boosted textiles production in the first three months of the year, rising 1.9% y/y.
The mining output (3.39% of the basket) climbed 44.2% y/y over the period boosted by higher phosphate production. The energy output (18.9% of the index), however, continued to dent Tunisia’s overall industrial production, falling 2.6% y/y in January-March.
Late in May, Tunisia's central bank (CBT) left the benchmark interest rate unchanged at 4.5%, underscoring negative economic trends, including sluggish industrial output and weakening tourism activity.
The odds on the Trump administration attempting to kill the Iran nuclear deal substantially shortened on March 13 with the firing-by-tweet of US Secretary of State Rex Tillerson and his replacement ... more
Algerian national energy company Sonatrach has struck a deal with Turkey's Ronesans and Bayegan to build a petrochemical plant worth $1bn in Turkey, Turkish President Recep Tayyip Erdogan said on ... more
Romanian civil engineering company Hidroconstructia has won a $115mn contract with Jordan’s Arab Potash Company, the world’s eighth largest potash producer. Hidroconstructia was founded in ... more