Tunisia's Macroeconomic Analysis:
Nominal GDP of USD 48.6 billion in 2023.
Nominal GDP of USD 46.4 billion in 2022.
GDP per capita of USD 3,752 compared to the global average of USD 10,589.
GDP per capita of USD 3,900 compared to the global average of USD 10,589.
Average real GDP growth of 1.1% over the last decade.
Average real GDP growth of 1.5% over the last decade.
Sector Analysis
In 2021, services accounted for 68% of overall GDP, manufacturing 15%, other industrial activity 8%, and agriculture 9%. Looking at GDP by expenditure, private consumption accounted for 74% of GDP in 2021, government consumption 20%, fixed investment 12%, and net exports -6%.International trade
In 2019, manufactured products made up 82% of total merchandise exports, mineral fuels 6%, food 11%, ores and metals 2% and agricultural raw materials 0%, with other categories accounting for -1% of the total. In the same period, manufactured products made up 68% of total merchandise imports, mineral fuels 17%, food 11%, ores and metals 4% and agricultural raw materials 2%, with other goods accounting for -2% of the total. Total exports were worth USD 19 billion in 2022, while total imports were USD 26 billion.Main Economic Indicators
Economic growthThe economy recorded average annual growth of 1.5% in the decade to 2022. To read more about GDP growth in Tunisia, go to our dedicated page.
Fiscal policy
Tunisia's fiscal deficit averaged 6.0% of GDP in the decade to 2022. Find out more on our dedicated page.
Unemployment
The unemployment rate averaged 15.9% in the decade to 2022. For more information on Tunisia's unemployment click here.
Inflation
Inflation averaged 5.6% in the decade to 2022. Go to our Tunisia inflation page for extra insight.
Monetary Policy
Tunisia's monetary policy rate ended 2022 at 7.25%, up from 3.75% a decade earlier. See our Tunisia monetary policy page for additional details.
Exchange Rate
From end-2012 to end-2022 the dinar weakened by 48.4% vs the U.S. dollar. For more info on the dinar, click here.
Economic situation in Tunisia
Annual GDP growth rose to 1.8% in Q3, according to recent data. The print was the strongest since Q4 2022, beating market expectations of 1.4% and the prior quarter’s 1.0%. Domestic demand drove the improvement, with net exports shrinking at a sharper rate. Looking at a breakdown by sector, the agricultural sector grew the most in over 12 years, benefitting from a low base effect created by last year’s drought-afflicted harvest. That said, GDP growth remained below that seen in other emerging markets, as high inflation and political uncertainty continue to weigh on economic activity. Moving to the final quarter of the year, our panelists expect GDP growth to lose steam. Looking at available data, inflation stayed near Q3’s elevated level, while the trade deficit widened to the second-highest level in 18 months.Tunisia Economic Forecasts
Projections out to 2034.46 indicators covered including both annual and quarterly frequencies.
Consensus Forecasts based on a panel of 16 expert analysts.
Want to get insight on the economic outlook for Tunisia in the coming years? FocusEconomics collects projections out to 2034 on 46 economic indicators for Tunisia from a panel of 16 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Tunisia economy. To download a sample report on the Tunisia's economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page.