Tunisia Economic Forecast
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Tunisia is the northernmost country in Africa with a diverse economy and several viable industry sectors that include agriculture, agrarian, fisheries, farming, mining, tourism, transportation, and industrial manufacturing.
For a long time, Tunisia’s government had too much control over the economy, but in the past 10 years, this situation has lessened to some degree. Increased privatization, has lead to a less complicated tax structure and a more sensible approach to relieving Tunisia’s public debt.
Tunisia is the northernmost country in Africa with a diverse economy and several viable industry sectors that include agriculture, agrarian, fisheries, farming, mining, tourism, transportation, and industrial manufacturing.
For a long time, Tunisia’s government had too much control over the economy, but in the past 10 years, this situation has lessened to some degree. Increased privatization, has lead to a less complicated tax structure and a more sensible approach to relieving Tunisia’s public debt.
Although Tunisia’s economic growth shrank during the world financial crisis of 2008, its export trade remained strong. The non-textile industrial manufacturing sector has helped the country recover quickly with improved production of agriculture, agrarian, fisheries, and farming. The services sector also offset declines in exports during the financial crisis.
The future of the Tunisia economy, with stable employment, increases in Foreign Direct Investment (FDI), more efficient government, lower trade deficits, and less impoverished areas in the south and west – will enable Tunisia to continue on the path to a stable economy in years to come.
Table of Contents
Tunisia GDP Forecast
Tunisia has a very diverse economy, one that depends on a number of sectors.
In addition, the country has recently opened up to foreign investment, which is a serious change from its situation 20 years earlier when the government controlled most aspects of the economy. While the government still needs to be more efficient, industry privatization is needed to boost the economy, trade deficit should be lowered, and economic disparities need to be reduced.
Tunisia’s GDP in 2010 was US$ 43.863 billion, growing 3.79 percent and is expected to increase 3.83 percent to US$ 45.543 billion in 2011. 2015 forecasts predict Tunisia’s GDP will grow to US$ 57.201 billion, increasing at a rate of about 6 percent per year from 2012 onwards.
Tunisia Unemployment Forecast
Tunisia’s population in 2010 was 10.544 million living in an area covering 103,000 square miles. The country has a unique demographic with some of it running along the Atlas mountain range, on the Saharan Desert, and partly along 8,000 miles of coastline. The population is expected to grow to 11.108 million by 2015.
As at 2010, Tunisia’s unemployment rate was 13.2 percent, however its expected to decline to 12.9 percent by 2015. The latest figures indicate 55 percent of the labor force is employed in agriculture, 23 percent in industry and 22 percent in services.
Tunisia Inflation Rate & Current Account Balance Forecast
Tunisia’s inflation rate in 2010 was 4.2 percent, up from 3.98 percent in 2009 and expected to decrease to 3.5 percent in 2011 and down to 3 percent in 2015, dwindling 3-5 percent per year.
Tunisia’s current account balance in 2010 was reported at US$ -1.943 billion and predicted to shrink 2.97 percent to US$ -1.853 billion in 2011, and down to US$ -1.58 billion by 2015.
