Tunisia Industry Sectors
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Tunisia’s industry sectors depend mainly on the country’s industrial sector. The country has one of the most developed education systems in Northern Africa.
Although Tunisia lacks the volume of oil production compared to Algeria and Libya, Tunisia has sizeable deposits of natural gas that helps limit its dependence on energy imports.
Tunisia’s industry sectors depend mainly on the country’s industrial sector. The country has one of the most developed education systems in Northern Africa.
Although Tunisia lacks the volume of oil production compared to Algeria and Libya, Tunisia has sizeable deposits of natural gas that helps limit its dependence on energy imports.
Tunisia traditionally has been a hub of trade between Africa and Europe for more than 2,000 years. Tunisia’s industries have attracted the Phoenicians, Arabs, Romans, Carthaginians, Ottomans and the French, and the trend continues to this day as Tunisia pulls in investors from all corners of the globe.
Latest statistics for Tunisia in 2010 indicate 10.8 percent of the labor force is employed in agriculture, 28.3 percent in industry and 61 percent in services.
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Tunisia Industries: Banking
Tunisia’s banking industry withstood the onslaught of the global meltdown due to regulations that have restricted its banking institutions from making loans abroad, investing in derivative products, and participating in international currency markets. According to the Central Bank of Tunisia, the non-performing loans (NPL) that were accumulated were down to 17 percent of gross assets in 2008, down from 24 percent in 2004.
In 2010, Tunisia had 20 commercial banks and two merchant banks, 10 leasing companies, 2 factoring firms and 8 offshore banks. The three main public banks, Société Tunisienne de Banque (STB), Banque Nationale Agricole (BNA) and Banque de l’Habitat (BH), dominate the sector with a combined market share of about 30 percent. According to industry experts, increased investments from the Gulf and Transition towards Basel II compliance would reinforce the performance of this sector in 2010.
Tunisia Industries: Tourism
Tourism has been a major industry sector in the Tunisian economy. The government’s 11th economic development plan (2007-11) seeks to achieve growth of 6.1 percent by 2011. The sector contributes 6.5 percent to the GDP, constitutes more than 16 percent of the total foreign exchange revenues and employs more than 350,000 people.
Apart from seaside and package tourism, the new niches are likely to be golf, medical and adventure tourism. Already a number of projects have been launched to realize the 2020 vision, where 10 new golf courses would be built in the country. Joint ventures with French and Japanese companies have helped launch the projects.
Tunisia Industries: Transport
Tunisia’s air, maritime and road improvement projects have been progressing and are on track to increasing connectivity to Asia and Europe substantially. The Enfidha Airport, which underwent a facelift in mid-2009, handles more than 5 million passengers per year. In the 11th economic development plan, over $1 billion has been earmarked for the railway sector. The construction of a new deep-water port at Enfidha is underway to ease the strain of other ports, especially the one at Rades.
