Tunisia Economy - 2023

GEOGRAPHICAL NAMES 

Economic overview

lower middle-income North African economy; drafting reforms for foreign lenders; high unemployment, especially for youth and women; hit hard by COVID-19; high public sector wages; high public debt; protectionist austerity measures; key EU trade partner

Real GDP (purchasing power parity)

$127.509 billion (2021 est.)

$122.226 billion (2020 est.)

$133.757 billion (2019 est.)

note: data are in 2017 dollars

Real GDP growth rate

4.32% (2021 est.)

-8.62% (2020 est.)

1.5% (2019 est.)

Real GDP per capita

$10,400 (2021 est.)

$10,100 (2020 est.)

$11,100 (2019 est.)

note: data are in 2017 dollars

GDP (official exchange rate)

$38.884 billion (2019 est.)

Inflation rate (consumer prices)

5.71% (2021 est.)

5.63% (2020 est.)

6.72% (2019 est.)

Credit ratings

Fitch rating: B (2020)

Moody's rating: B2 (2018)

Standard & Poors rating: N/A (2013)

note: The year refers to the year in which the current credit rating was first obtained.

GDP - composition, by sector of origin

agriculture: 10.1% (2017 est.)

industry: 26.2% (2017 est.)

services: 63.8% (2017 est.)

GDP - composition, by end use

household consumption: 71.7% (2017 est.)

government consumption: 20.8% (2017 est.)

investment in fixed capital: 19.4% (2017 est.)

investment in inventories: 0% (2017 est.)

exports of goods and services: 43.2% (2017 est.)

imports of goods and services: -55.2% (2017 est.)

Agricultural products

wheat, milk, tomatoes, barley, olives, watermelons, green chillies/peppers, potatoes, dates, green onions/shallots

Industries

petroleum, mining (particularly phosphate, iron ore), tourism, textiles, footwear, agribusiness, beverages

Industrial production growth rate

8.6% (2021 est.)

Labor force

4.226 million (2021 est.)

Labor force - by occupation

agriculture: 14.8%

industry: 33.2%

services: 51.7% (2014 est.)

Unemployment rate

16.82% (2021 est.)

16.59% (2020 est.)

15.13% (2019 est.)

Youth unemployment rate (ages 15-24)

total: 38.3%

male: 37.1%

female: 41.2% (2021 est.)

Population below poverty line

15.2% (2015 est.)

Gini Index coefficient - distribution of family income

32.8 (2015 est.)

Average household expenditures

on food: 21.9% of household expenditures (2018 est.)

on alcohol and tobacco: 3.2% of household expenditures (2018 est.)

Household income or consumption by percentage share

lowest 10%: 2.6%

highest 10%: 27% (2010 est.)

Budget

revenues: $10.866 billion (2019 est.)

expenditures: $12.375 billion (2019 est.)

Budget surplus (+) or deficit (-)

-5.8% (of GDP) (2017 est.)

Public debt

70.3% of GDP (2017 est.)

62.3% of GDP (2016 est.)

Taxes and other revenues

24.7% (of GDP) (2017 est.)

Fiscal year

calendar year

Current account balance

-$2.781 billion (2021 est.)

-$2.533 billion (2020 est.)

-$3.391 billion (2019 est.)

Exports

$19.743 billion (2021 est.) note: data are in current year dollars

$16.017 billion (2020 est.) note: data are in current year dollars

$19.175 billion (2019 est.)

Exports - partners

France 29%, Italy 17%, Germany 13% (2019)

Exports - commodities

insulated wiring, clothing and apparel, crude petroleum, olive oil, vehicle parts (2019)

Imports

$24.269 billion (2021 est.) note: data are in current year dollars

$19.603 billion (2020 est.) note: data are in current year dollars

$23.546 billion (2019 est.)

Imports - partners

France 17%, Italy 16%, Germany 8%, China 8%, Algeria 7% (2019)

Imports - commodities

refined petroleum, natural gas, low-voltage protection equipment, cars, insulated wiring (2019)

Reserves of foreign exchange and gold

$8.846 billion (31 December 2021 est.)

$9.811 billion (31 December 2020 est.)

$7.92 billion (31 December 2019 est.)

Debt - external

$35.911 billion (2019 est.)

$33.79 billion (2018 est.)

Exchange rates

Tunisian dinars (TND) per US dollar -

2.794 (2021 est.)

2.812 (2020 est.)

2.934 (2019 est.)

2.647 (2018 est.)

2.419 (2017 est.)

NOTE: The information regarding Tunisia on this page is re-published from the 2023 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Tunisia 2023 information contained here. All suggestions for corrections of any errors about Tunisia 2023 should be addressed to the CIA or the source cited on each page.