Tunisia Economy - 2024

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.)

Unemployment rate

16.82% (2021 est.)
16.59% (2020 est.)
15.13% (2019 est.)

Youth unemployment rate (ages 15-24)

total: 38.3% (2021 est.)

male: 37.1%

female: 41.2%

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.)

Remittances

5.57% of GDP (2020 est.)
4.89% of GDP (2019 est.)
4.46% of GDP (2018 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 -

Exchange rates:
2.794 (2021 est.)
2.812 (2020 est.)
2.934 (2019 est.)
2.647 (2018 est.)
2.419 (2017 est.)