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Saturday 26 November 2022
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Tunisia: economy grows by 2.9% in Q3

Tunisia’s economy grew 2.9% at an annual rate in the third quarter of 2022, from 2.6% in the second quarter, according to the results of the quarterly national accounts, the National Institute of Statistics announced Tuesday.

In terms of quarterly changes, Q3 2022 real GDP increased by 0.4% from the previous quarter.

According to the INS, the economic growth recorded in the third quarter is driven by the dynamics of the service branches (+4.3% annualized), especially in the accommodation and catering sector (+16.7%) and transport (+17.7%). The agricultural and fishing sector also saw an acceleration of about 1.1% of its growth rate.

As for the industrial sector, the pace of growth was down with an increase of 4.4% in manufacturing industries, against 5% in the second quarter.

On the other hand, the energy and mining sector shows a negative growth of -7.6% in annual rate, due to lower production in the oil and natural gas extraction sectors by 13.6% and mining of 19.9%. Similarly, the INS data show a negative growth in the construction sector (-3.3%).

The INS stressed that it has revised the economic growth rates for the years 2019, 2020 and 2021 to now stand at 1.5% (against 1.3%), -8.6% (against -8.7%) and 4.3% (against 3.1%) respectively.

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