Reported investments in industry fell 37% in the first two months of 2022, compared to the same period in 2021, to 304 million dinars, according to data from the Agency for the Promotion of Industry and Innovation (APII).<
The latest business report for the manufacturing industry and related services reveals that the number of projects reported in the first two months of the year contracted by 7.4% year-on-year.
The APII’s Industrial Business Barometer also reports a 4.9% decrease in the number of job openings in the first two months of the year.
Nevertheless, the official data show that the leather and footwear industries as well as other industries are on the rise. Indeed, they point to a strengthening in reported investments over the period extending from January to February 2022, compared to the same period last year.
The APII reveals a 31.3% decline in reported creative investments, falling from 197.8 million dinars in the first two months of 2021 to 155.7 million in 2022.
Fully exporting industries saw a 62.5% drying up of reported investments, falling from 279 million dinars to 104.6 million.
As for reported investments in industries targeting the local market, they declined by 2%. The APII also reports respective decreases by 63.2% of 100% foreign industrial investments and 73.8% for partnership investments.
Still, an increase by 83.3% of reported investments in service activities was reported. The tertiary sector has therefore seen a 23.2% growth in the number of projects reported as well as an increase by 17.9% of jobs to be created.
In sum, an increase by 218% of investments reported in service activities fully exported was achieved, with an amount 15.9 million dinars, against 5 million during the first two months of 2021.
At the same time, the number of jobs to be created in the service sector has increased.
In addition, there was an increase by 52.9% of foreign-owned investments reported in service activities, in addition to a 65.3% rise in the number of foreign-owned projects.
The number of jobs to be created has also increased by 58%. APII also reports a 252.3% increase in reported investments in industry-related service activities.
Regarding the investments reported in the regional development areas, they have contracted by 52.2%. The share of these areas in all governorates fell from 68% to 51.6% in the first two months of 2022.