Inflation (CPI) 6.04% (July 2014) Gini coefficient 36.1 (2010) Currency Tunisian dinar Gross domestic product 46.99 billion USD (2013) GNI per capita 10,610 PPP dollars (2013) | Population below poverty line 15.5% (2010) Labour force 3.315 million (2013) GDP per capita 4,316.69 USD (2013) GDP growth rate 2.5% annual change (2013) | |
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GDP by sector agriculture: 11%; industry: 35.3%; services: 53.7% (2009 est.) Labour force by occupation agriculture: 18.3%; industry: 31.9%; services: 49.8% (2009 est.) Internet users 43.8% of the population (2013) Gross national income 115.5 billion PPP dollars (2013) | ||
Tunisia is in the process of economic reform and liberalization after decades of heavy state direction and participation in the economy. Prudent economic and fiscal planning have resulted in moderate but sustained growth for over a decade. Tunisia's economic growth historically has depended on oil, phosphates, agri-food products, car parts manufacturing, and tourism. In the World Economic Forum Global Competitiveness Report for 2015-2016, Tunisia ranks in 92nd place. Based on HDI latest report (for 2014), Tunisia ranks 96th globally and 5th in Africa.
Contents
Map of Tunisia
The year 2015 was marked by terrorist attacks in Tunisia which are likely to impact economic growth, especially in tourism, one of the main sectors.
Historical trend
GDP per capita soared by more than 380% in the seventies (1970–1980: USD 280–1,369). But this proved unsustainable and it collapsed to a cumulative 10% growth in the turbulent eighties (1980–1990: USD 1,369–1,507), rising again to almost 50% cumulative growth in the nineties (1990–2000: USD 1,507–2,245), signifying the impact of successful diversification.
Growing foreign debt and the foreign exchange crisis in the mid-1980s led the government to launch a structural adjustment program to liberalize prices, reduce tariffs, and reorient Tunisia toward a market economy in 1986. Tunisia's economic reform program was lauded as a model by international financial institutions. The government liberalized prices, reduced tariffs, lowered debt-service-to-exports and debt-to-GDP ratios, and extended the average maturity of its $10 billion foreign debt. Structural adjustment brought additional lending from the World Bank and other Western creditors. In 1990, Tunisia acceded to the General Agreement on Tariffs and Trade (GATT) and is a member of the World Trade Organization (WTO).
In 1996 Tunisia entered into an "Association Agreement" with the European Union (EU) which removed tariff and other trade barriers on most goods by 2008. In conjunction with the Association Agreement, the EU is assisting the Tunisian government's Mise A Niveau (upgrading) program to enhance the productivity of Tunisian businesses and prepare for competition in the global marketplace.
The government totally or partially privatized around 160 state-owned enterprises after the privatization program was launched in 1987. Although the program is supported by the GATT, the government had to move carefully to avoid mass firings. Unemployment continued to plague Tunisia's economy and was aggravated by a rapidly growing work force. An estimated 55% of the population is under the age of 25. Officially, 15.2% of the Tunisian work force is unemployed.
In 2011, after the Arab Spring, the economy slumped but then recovered with 2.81% GDP growth in 2014. However, unemployment is still one of the major issues with 15.2% of the labor force unemployed as of the first quarter of 2014. Tunisia’s political transition gained new momentum in early 2014, with the resolution of a political deadlock, the adoption of a new Constitution and the appointment of a new government. The national dialogue platform, brokered by key civil society organizations, played a crucial role in gathering all major political parties. This consensus will allow for further reform in the economy and public sector.
In 2015, the Bardo National Museum attack led to the collapse of the third largest sector of Tunisia's economy, tourism. Tunisian tourist workers in Tunis have said that "tourism is dead, it is completely dead" expressing the severe drop in tourism after the attack.
Electricity
Agriculture
Agriculture - products: olives, grain, tomatoes, citrus fruit, sugar beets, dates, almonds,