Tunisia’s trade deficit continued to deteriorate in the first nine months of 2017, amounting to 11.5 billion dinars.
This situation is explained by the continuous amplification of the level of imports of all product groups, while that of exports is still insufficient to redress the equilibrium.
This is what was indicated in a note published by the Central Bank of Tunisia (BCT) during this month of November 2017.
The trade deficit of resident companies has widened by nearly 3 billion dinars compared to the same period of 2016 to reach 16.5 billion dinars, a situation that impacts the level of foreign currency reserves and exerts strong pressure on the foreign exchange market.
“This situation has further contributed to the depreciation of the Tunisian Dinar against major currencies,” noted the BCT, before stressing that control of the trade deficit remains largely dependent on the promotion of exports through the diversification of exported goods, the improvement of competitiveness as well as the conquest of new external markets, particularly those of sub-Saharan Africa and the Gulf countries.
At the same time, actions will have to be multiplied to encourage the consumption of locally manufactured products.