“The deterioration of the trade balance has had direct repercussions on the overall balance of payments, worsening the country’s external imbalance by the end of the first four months of the current year.
According to the Central Bank of Tunisia (BCT), the current account deficit widened significantly, reaching 3,260 million dinars by the end of April 2025, equivalent to 1.8% of GDP, compared to 1,074 million dinars (0.6% of GDP) a year earlier.
Indeed, the trade deficit (FOB-CAF) deepened to 7,294 million dinars, up from 4,735 million during the same period the previous year.
This deterioration is primarily explained by a sharp acceleration in the pace of imports, driven by increased domestic demand for consumer goods and industrial inputs, while exports declined due to weaker external demand and disruptions in key export sectors, particularly agriculture and textiles.
This trend highlights the persistent vulnerability of external accounts, despite encouraging performances in tourism revenues and remittances from Tunisians living abroad.”
This concerning trend in the current account underscores the need to enhance the competitiveness of Tunisian exports, curb the import bill, and continue structural reforms to improve the external sustainability of the national economy.
