| Date - Field | Tunisia - Economy - overview |
2009 January
Economy - overview | Tunisia has a diverse economy, with important agricultural, mining, tourism, and manufacturing sectors. Governmental control of economic affairs while still heavy has gradually lessened over the past decade with increasing privatization, simplification of the tax structure, and a prudent approach to debt. Progressive social policies also have helped raise living conditions in Tunisia relative to the region. Real growth, which averaged almost 5% over the past decade, declined to 4.7% in 2008 and probably will decline further in 2009 because of economic contraction and slowing of import demand in Europe - Tunisia's largest export market. However, development of non-textile manufacturing, a recovery in agricultural production, and strong growth in the services sector somewhat mitigated the economic effect of slowing exports. Tunisia will need to reach even higher growth levels to create sufficient employment opportunities for an already large number of unemployed as well as the growing population of university graduates. The challenges ahead include: privatizing industry, liberalizing the investment code to increase foreign investment, improving government efficiency, reducing the trade deficit, and reducing socioeconomic disparities in the impoverished south and west. |
2008 January
Economy - overview | Tunisia has a diverse economy, with important agricultural, mining, tourism, and manufacturing sectors. Governmental control of economic affairs while still heavy has gradually lessened over the past decade with increasing privatization, simplification of the tax structure, and a prudent approach to debt. Progressive social policies also have helped raise living conditions in Tunisia relative to the region. Real growth, which averaged almost 5% over the past decade, reached 6.3% in 2007 because of development in non-textile manufacturing, a recovery in agricultural production, and strong growth in the services sector. However, Tunisia will need to reach even higher growth levels to create sufficient employment opportunities for an already large number of unemployed as well as the growing population of university graduates. Broader privatization, further liberalization of the investment code to increase foreign investment, improvements in government efficiency, and reduction of the trade deficit are among the challenges ahead. |
2007 January
Economy - overview | Tunisia has a diverse economy, with important agricultural, mining, energy, tourism, and manufacturing sectors. Governmental control of economic affairs while still heavy has gradually lessened over the past decade with increasing privatization, simplification of the tax structure, and a prudent approach to debt. Progressive social policies also have helped raise living conditions in Tunisia relative to the region. Real growth slowed to a 15-year low of 1.9% in 2002 because of agricultural drought and lackluster tourism. Increased rain helped to push GDP growth to an average rate of 5% in 2003-06. However, a recession in agriculture, weak expansion in the tourism and textile sectors, and increasing import costs due to rising world energy prices cut growth to 4% in 2006. Tunisia is gradually removing barriers to trade with the EU. Broader privatization, further liberalization of the investment code to increase foreign investment, improvements in government efficiency, and reduction of the trade deficit are among the challenges ahead. |
2006 January
Economy - overview | Tunisia has a diverse economy, with important agricultural, mining, energy, tourism, and manufacturing sectors. Governmental control of economic affairs while still heavy has gradually lessened over the past decade with increasing privatization, simplification of the tax structure, and a prudent approach to debt. Progressive social policies also have helped raise living conditions in Tunisia relative to the region. Real growth slowed to a 15-year low of 1.9% in 2002 because of agricultural drought and lackluster tourism. Better rains in 2003 and 2004, however, helped push GDP growth above 5% for these years. Tourism also recovered after the end of combat operations in Iraq. Tunisia is gradually removing barriers to trade with the European Union. Broader privatization, further liberalization of the investment code to increase foreign investment, improvements in government efficiency, and reduction of the trade deficit are among the challenges ahead. |
2005 January
Economy - overview | Tunisia has a diverse economy, with important agricultural, mining, energy, tourism, and manufacturing sectors. Governmental control of economic affairs while still heavy has gradually lessened over the past decade with increasing privatization, simplification of the tax structure, and a prudent approach to debt. Progressive social policies also have helped raise living conditions in Tunisia relative to the region. Real growth slowed to a 15-year low of 1.9% in 2002 because of agricultural drought and lackluster tourism. Better rains in 2003 and 2004, however, helped push GDP growth above 5% for these years. Tourism also recovered after the end of combat operations in Iraq. Tunisia is gradually removing barriers to trade with the European Union. Broader privatization, further liberalization of the investment code to increase foreign investment, improvements in government efficiency, and reduction of the trade deficit are among the challenges ahead. |
2004 January
Economy - overview | Tunisia has a diverse economy, with important agricultural, mining, energy, tourism, and manufacturing sectors. Governmental control of economic affairs while still heavy has gradually lessened over the past decade with increasing privatization, simplification of the tax structure, and a prudent approach to debt. Real growth, averaging 5 percent for the latter half of the last decade, slowed to a 15-year low of 1.9% in 2002 because of agricultural drought, slow investment, and lackluster tourism. Better rains in 2003, however, pushed GDP growth up to an estimated 6 percent, and tourism also recovered after the end of combat operations in Iraq. GDP growth is likely to ease to the 5-5.5 percent range in 2004 as the agricultural sector is unlikely to continue to expand as rapidly. Tunisia has agreed to gradually remove barriers to trade with the European Union over the next decade. Broader privatization, further liberalization of the investment code to increase foreign investment, improvements in government efficiency, and reduction of the trade deficit are among the challenges for the future. |
2003 January
Economy - overview | Tunisia has a diverse economy, with important agricultural, mining, energy, tourism, and manufacturing sectors. Governmental control of economic affairs while still heavy has gradually lessened over the past decade with increasing privatization, simplification of the tax structure, and a prudent approach to debt. Real growth averaged 5.4% in 1997-2001 but slowed to 1.9% in 2002 because of agricultural drought, slow investment, and lackluster tourism. Increased rainfall portends higher growth levels for 2003, but continued regional tension from the war in Iraq will most likely continue to suppress tourism earnings. Tunisia has agreed to gradually remove barriers to trade with the European Union over the next decade. Broader privatization, further liberalization of the investment code to increase foreign investment, improvements in government efficiency, and reduction of the trade deficit are among the challenges for the future. |
2002 January
Economy - overview | Tunisia has a diverse economy, with important agricultural, mining, energy, tourism, and manufacturing sectors. Governmental control of economic affairs while still heavy has gradually lessened over the past decade with increasing privatization, simplification of the tax structure, and a prudent approach to debt. Real growth averaged 5.4% in the past five years, and inflation is slowing. Growth in tourism and increased trade have been key elements in this steady growth, although tourism revenues have slowed since 11 September 2001 and may take a year or more to fully recover. Tunisia's association agreement with the European Union entered into force on 1 March 1998, the first such accord between the EU and a Mediterranean country. Under the agreement Tunisia will gradually remove barriers to trade with the EU over the next decade. Broader privatization, further liberalization of the investment code to increase foreign investment, and improvements in government efficiency are among the challenges for the future. |
2001 January
Economy - overview | Tunisia has a diverse economy, with important agricultural, mining, energy, tourism, and manufacturing sectors. Governmental control of economic affairs while still heavy has gradually lessened over the past decade with increasing privatization, simplification of the tax structure, and a prudent approach to debt. Real growth averaged 5.5% in the past four years, and inflation is slowing. Growth in tourism and increased trade have been key elements in this steady growth. Tunisia's association agreement with the European Union entered into force on 1 March 1998, the first such accord between the EU and Mediterranean countries to be activated. Under the agreement Tunisia will gradually remove barriers to trade with the EU over the next decade. Broader privatization, further liberalization of the investment code to increase foreign investment, and improvements in government efficiency are among the challenges for the future. |
2000 January
Economy - overview | Tunisia has a diverse economy, with important agricultural, mining, energy, tourism, and manufacturing sectors. Governmental control of economic affairs while still heavy has gradually lessened over the past decade with increasing privatization, simplification of the tax structure, and a prudent approach to debt. Real growth averaged 5.0% in the 1990s, and inflation is slowing. Growth in tourism and increased trade have been key elements in this steady growth. Tunisia's association agreement with the European Union entered into force on 1 March 1998, the first such accord between the EU and Mediterranean countries to be activated. Under the agreement Tunisia will gradually remove barriers to trade with the EU over the next decade. Broader privatization, further liberalization of the investment code to increase foreign investment, and improvements in government efficiency are among the challenges for the future. |
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This page was last updated on 24 June, 2009 |
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