Main information about Tunisia
| Country name | Republic of Tunisia |
|---|---|
| The capital | Tunisia |
| Continent | Africa |
| Area | 163,610 km2 |
| Population (2022) | 11.81 million |
| The main language (official) | Arabic, french |
| Currency | The Tunisian Dinar |
| Economic indicators (2021-2022) | Tunisia USD |
|---|---|
| GDP (billion) | 46.7 |
| Growth in GDP (%) | 2.5 |
| GDP per capita | 3,777 |
| Unemployment rate (%) | 16.1 |
| Inflation rate (%) | 8.3 |
| Labor force (million) | 4.2 |
| Export ( billion) | 19.9 |
| Import (billion) | 22.3 |
| Trade balance (billion) | -2.4 |
| Public debt as % of GDP (%) | 80* |
| Budget deficit as % of GDP (%) | -10 |
| External debt (biilion) | 132.5 |
*Source: world Bank,*Refers to statistical data in 2021
The Tunisian economy is among the most competitive economies on the African and Arab levels, and it provides enterprises with a better environment than they can find in the most important competing countries. The level of education of the population, the strictness of the macroeconomic management, and the quality of public institutions are very helpful elements for the competitiveness of enterprises and companies.
Tunisia is a country naturally open to the outside, with its coastline extending over 1,300 km, and the share of its exports is approximately 30% of the gross domestic product, while foreign direct investments represent a share of approximately 10% of the total fixed capital formation.
The Tunisian economy is characterized by increasing liberalization, increasing integration into the global economy, and clearer competition, supported by a new legal framework and a stimulating fiscal framework.
The Tunisian economy managed to achieve a GDP growth rate of 3.1% in 2021, supported by the rapidly growing mining and natural gas sectors.
| Year | Foreign Direct Investment
million USD |
|---|---|
| 2020 | 652 |
| 2021 | 660 |
| 2022 | 713 |
*Source: United Nations Conference on
Trade and Development (UNCTAD)
Tunisia's main assets are its proximity to Europe, Africa and the Middle East, free trade agreements with the European Union and a large part of Africa and an educated workforce. In recent years the Tunisian government has undertaken structural reforms necessary to improve the business climate in Tunisia, including improving the bankruptcy law, the investment law, and a law allowing public-private partnerships. The government has adopted laws that allow starting a business more easily.
These improvements boosted investment returns and helped Tunisia move up the World Bank's rankings. The investors in Tunisia are the UAE, France, Qatar, Italy and Germany. In terms of stocks, manufacturing is by far the most attractive sector for investment, followed by tourism and telecom.
Since the beginning of the seventies, foreign companies and facilities began to be concentrated in Tunisia in large numbers, and the country has become a preferred destination for non-resident companies. More than 3,486 foreign companies have settled in Tunisia, and they provide more than 386,312 jobs.
In 2022, the Tunisian business climate, besieged by problems, received a rare boost with a jump in the flow of direct foreign capital, driven by government efforts to reduce obstacles to investors, including reducing licenses and reducing procedures that hinder investments. Statistics indicate that the flow of foreign direct investment into the local market in Tunisia has grown. By 18.4 percent by the end of 2022 on an annual basis, reaching $2.2 billion (more than $694 million), and investments witnessed varying growth. While they increased in the manufacturing, services, and agricultural sectors, it is noted that they declined in the energy field.
| year | Export Million USD | Import Million USD | Total trade Million USD | Trade balance Million USD |
|---|---|---|---|---|
| 2020 | 20.9 | 11.8 | 32.7 | 9.1 |
| 2021 | 20 | 18.5 | 38.5 | 1.5 |
| 2020 | 20.9 | 11.9 | 32.8 | 9 |
*source: international trade center (ITC).
| The most critical Tunisian exports to Jordan 2021 | Export value
Million USD |
|---|---|
| Fish and crustaceans | 1.8 |
| Edible fats | 1.6 |
| Dairy produce | 0.2 |
| Cereal or flour preparations | 0.4 |
| The most critical Tunisian import from Jordan 2021 | Import value Million USD |
| Edible fruit and nuts | 0.2 |
| Oil seeds and oleaginous fruits | 0.2 |
| Preparations of meat, of fish | 0.3 |
| Cocoa and cocoa preparations | 0.2 |
*Source: international trade center (ITC)
The Tunisian-Jordanian cooperation is an exemplary example. Tunisia represents Jordan's gateway to the European market. Jordan represents a gateway for exports to Iraq and the Arab Gulf markets. It is worth mentioning that bilateral relations between the two countries have improved significantly over the past years.
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