Tunisia's trade gap widens 20% y/y to USD 3.5bn in Jan-May 2014

By bne IntelliNews June 11, 2014

Tunisia’s trade gap expanded 20% y/y to TND 5.69bn (USD 3.44bn) in the first five months of the year on falling exports, mainly those of food and energy, and rising imports, the statistics office (INS) said on June 11. The trade deficit expansion, however, narrowed from 31% y/y at end-April. The central bank recently warned of the widening current account deficit, which reached 3.8% of the forecast GDP in the first four months of the year compared with 2.6% of GDP during the same period a year earlier.

The current account balance was pressured by an expanding trade gap given high energy and food imports. Such negative parameters, coupled with falling FDI into Tunisia, and despite the government’s external borrowing, cut FX reserves to TND 10.615bn as of May 27. The latter covered 95 days of imports, down from 106 days during the same period of 2013.

Exports fell 2.0% y/y to TND 11.54bn in January-May, whereas imports rose 4.3% y/y to TND 17.22bn.

Exports were dragged down by a 32% y/y drop in food and agro sales to TND 830mn in January-May on falling foreign sales of value-added olive oil. Energy exports also fell 5.3% y/y to TND 1.53over the period .

Energy imports, however, climbed 16% y/y to TND 3bn in January-May while consuming goods purchases rose 5.4% y/y to TND 4.1bn on strong private consumption. Food imports dropped 4.3% y/y to TND 1.52bn on a strong local harvest season.

Related Articles

Egypt could return to emergency rule amidst deadly bomb explosions

A spate of explosions in Egypt over the long weekend marking the birthday of Prophet Mohamed culminated in the detonation of a bomb at a church attached to the Coptic Christian Cathedral that ... more

Egypt’s inflation spikes post November currency floatation, rate hike expected

Egypt’s annual inflation rate spiked in November to hit its highest levels since July 2008, reflecting the effects of the general rise in price levels of goods since the Egyptian pound’s ... more

Samba said to take Saudi Oger to court, torpedoing talks on standstill deal on $3.5bn debts

Saudi Arabia’s Samba Financial Group has taken Saudi Oger to court, torpedoing efforts by the latter to negotiate a standstill agreement on at least SAR13bn ($3.5bn) of debt, which could have major ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss