Tunisia’s trade deficit grew 12% in May compared to April, according to the National Institute of Statistics (INS). The deficit reached TND 1.44 billion, up from TND 1.27 billion the previous month.
This widening gap reflects a decline in exports (down 1.3%) and a slight increase in imports (up 1.5%). Notably, exports in key sectors like agriculture and agri-food (down 10.9%) and energy (down 26.1%) fell significantly.
However, there were some bright spots. Exports of textiles, clothing, and leather grew 13.9%, with strong performances in textiles and clothing (up 15.7%) and leather and footwear (up 6.7%). Additionally, the mining and phosphates sector saw exports jump 18.3%.
Geographically, exports to the European Union rose 6.1%, driven by a surge to Germany (up 28.3%). Exports to other nearby countries like Spain (up 7.9%) and Italy (up 1.7%) also increased.
On the other hand, exports to major trading partners like the United States (down 22.5%), the United Kingdom (down 14%), and Russia (down 20.4%) fell.
Imports Rise, Led by Raw Materials
Import growth was primarily driven by a 14.6% increase in raw materials and semi-finished goods. Additionally, food imports rebounded 20% after two months of decline.
While capital goods purchases remained stable (up 0.6%), energy product imports continued to fall (down 15.4%) for the second consecutive month. Consumer goods imports also declined (down 5.4%).
Imports from the European Union remained flat overall. However, some European countries saw significant increases, like Italy (up 39.1%) and Spain (up 33.7%).
Imports from the Maghreb region rose 9.3%, with a notable rise from Egypt (up 35.3%). Meanwhile, imports from major partners like Russia (down 35.6%), China (down 2.6%), and the UK (down 6.6%) fell. Interestingly, imports from Switzerland skyrocketed 113.1%, and the United States saw a 36.1% increase.
Overall, Tunisia’s trade deficit widened in May due to a decline in exports and a slight increase in imports. While some sectors showed promising export growth, falling exports from key partners and rising import costs remain areas of concern.
. The deficit reached TND 1.44 billion, up from TND 1.27 billion the previous month.){kind=link}