(Ecofin Agency) - The rise in exports from the smallest country in the Maghreb is mainly due to the strong performance of the agri-food and energy industries.

Tunisia’s trade deficit decreased by 2.2% during the first eight months of 2024, dropping to 11.92 billion dinars ($3.93 billion), compared to 12.19 billion dinars during the same period in 2023. The figures were recently reported by the National Institute of Statistics (INS).

From January 1 to August 31, 2024, Tunisia’s exports reached 41.51 billion dinars ($13.67 billion), up from 40.63 billion dinars in the same period last year, marking a 2.1% increase. Imports rose by 1.1%, reaching 53.43 billion dinars (USD 17.6 billion), compared to 52.83 billion dinars in 2023.

This improvement led to a 0.8 percentage point increase in the export-to-import coverage ratio, bringing it to 77.7%. The boost in exports is largely due to the strong performance of Tunisia’s agri-food industry (+33%) and energy sector (+20.7%). Meanwhile, the rise in imports was driven by energy products (+16.6%) and capital goods (+2.5%).

Tunisia’s largest trade deficits were recorded with China (-5.58 billion dinars), Russia (-4.03 billion), Algeria (-2.52 billion), and Turkey (-1.72 billion). Meanwhile, trade surpluses were observed with key partners, including France (+3.51 billion dinars), Germany (+1.47 billion), Libya (+1.42 billion), and Italy (+1.38 billion).