After months of remaining within tolerable limits, Tunisia’s trade deficit surged in January 2025, skyrocketing to -1,765.5 million dinars (MD), compared to -577.6 MD during the same period in 2024, according to a report released Wednesday by the National Institute of Statistics (INS).
Excluding energy, the trade deficit narrowed to -687 MD, while the energy deficit reached -1,078.4 MD, up from -683.6 MD in January 2024, the INS revealed in a detailed note on foreign trade at current prices for January 2025.
The institute attributed the deficit primarily to trade imbalances with several countries, including China (-971.2 MD), Russia (-647.1 MD), Algeria (-281.6 MD), Turkey (-220.8 MD), Greece (-197.6 MD), and India (-103.6 MD).
However, Tunisia’s trade balance showed a surplus with other countries, notably France (361.7 MD), Germany (276.6 MD), Italy (268 MD), Libya (180.5 MD), and Morocco (79.4 MD).
The coverage ratio, which measures exports relative to imports, dropped to 74% in January 2025, compared to 89.9% in January 2024.
Tunisia’s trade data for January 2025 shows exports reached 5,025.8 MD, down from 5,148.5 MD in January 2024, while imports rose to 6,791.3 MD, up from 5,726.1 MD during the same period last year.
The decline in exports is largely due to a -52.8% drop in energy sector exports, driven by reduced sales of refined products (28.5 MD compared to 191.5 MD), and a -9.7% decline in the agri-food sector, mainly due to lower olive oil exports (518.4 MD compared to 607.8 MD).
On the other hand, exports increased in the mining, phosphates, and derivatives sector (+20.5%) and the textiles, clothing, and leather sector (+2.5%).
Exports to the EU Decline by -9.8%
Tunisian exports to the European Union (67.9% of total exports) fell by -9.8%. This decline is attributed to reduced exports to key European partners, including France (-6.2%), Italy (-7.5%), and Spain (-59%), despite increases to Germany (+13%) and the Netherlands (+18.8%).
Exports to Arab countries, however, saw significant growth, with Libya (+62.3%), Morocco (+58.9%), Algeria (+0.8%), and Egypt (+176.5%) recording increases.
Rise in imports driven by energy and other sectors
The increase in imports is largely due to a +24% rise in energy product imports, fueled by higher purchases of refined products (1,219.2 MD compared to 623.2 MD).
Imports also rose for capital goods (+14.1%), raw materials and semi-finished products (+13.2%), consumer goods (+18.5%), and food products (+37.9%).
Imports from the European Union (41.7% of total imports) increased by +4.2%, reaching 2,830.5 MD. While imports from France (+1.8%) and Italy (+8.7%) grew, they declined from Germany (-0.4%), Spain (-2%), and Belgium (-14.6%).
Outside the EU, imports increased significantly from China (+62.3%), Russia (+51.2%), India (+12.2%), and Turkey (+10.4%).
