Economy of Tunisia

GDP per capita soared by more than 380% in the seventies (1970–1980: USD 280–1,369). But this proved unsustainable and it collapsed to a cumulative 10% growth in the turbulent eighties (1980–1990: USD 1,369–1,507), rising again to almost 50% cumulative growth in the nineties (1990–2000: USD 1,507–2,245), signifying the impact of successful diversification.[20]

Olive grove in Sfax, Tunisia

Growing foreign debt and the foreign exchange crisis in the mid-1980s led the government to launch a structural adjustment program to liberalize prices, reduce tariffs, and reorient Tunisia toward a market economy in 1986. Tunisia's economic reform program was lauded as a model by international financial institutions. The government liberalized prices, reduced tariffs, lowered debt-service-to-exports and debt-to-GDP ratios, and extended the average maturity of its $10 billion foreign debt. Structural adjustment brought additional lending from the World Bank and other Western creditors. In 1990, Tunisia acceded to the General Agreement on Tariffs and Trade (GATT) and is a member of the World Trade Organization (WTO).

In 1996 Tunisia entered into an "Association Agreement" with the European Union (EU) which removed tariff and other trade barriers on most goods by 2008. In conjunction with the Association Agreement, the EU is assisting the Tunisian government's Mise A Niveau (upgrading) program to enhance the productivity of Tunisian businesses and prepare for competition in the global marketplace.

The government totally or partially privatized around 160 state-owned enterprises after the privatization program was launched in 1987. Although the program is supported by the GATT, the government had to move carefully to avoid mass firings. Unemployment continued to plague Tunisia's economy and was aggravated by a rapidly growing work force. An estimated 55% of the population is under the age of 25. Officially, 15.2% of the Tunisian work force is unemployed.

In 2011, after the Arab Spring, the economy slumped but then recovered with 2.81% GDP growth in 2014. However, unemployment is still one of the major issues with 15.2% of the labor force unemployed as of the first quarter of 2014. Tunisia's political transition gained new momentum in early 2014, with the resolution of a political deadlock, the adoption of a new Constitution and the appointment of a new government. The national dialogue platform, brokered by key civil society organizations, played a crucial role in gathering all major political parties. This consensus will allow for further reform in the economy and public sector.

In 2015, the Bardo National Museum attack led to the collapse of the third largest sector of Tunisia's economy,[21] tourism. Tunisian tourist workers in Tunis have said that "tourism is dead, it is completely dead" expressing the severe drop in tourism after the attack.[22]

The number of ragpickers is increasing due to the continuing high level of unemployment (15% of the working population), the loss of purchasing power of the most disadvantaged families, and the explosion of plastic waste due to new consumption habits. They do not benefit from any social protection - medical coverage, retirement... - granted to professions with a legal status and may be subject to the exploitation of the recycling industry[23]

The following table shows the main economic indicators in 1980–2017. Inflation under 5% is in green.[24]

Year	GDP (in Bil. US$ PPP)	GDP per capita (in US$ PPP)	GDP growth (real)	Inflation rate (in Percent)	Unemployment (in Percent)	Government debt (in % of GDP)
1980	13.6	2,127	7.4%	10.1%	n/a	n/a
1981	15.8	2,387	5.5%	8.9%	n/a	n/a
1982	16.6	2,463	−0.5%	13.7%	n/a	n/a
1983	18.0	2,618	4.7%	9.0%	n/a	n/a
1984	19.7	2,833	5.7%	8.6%	n/a	n/a
1985	21.5	2,991	5.7%	7.6%	n/a	n/a
1986	21.6	2,894	−1.5%	6.2%	n/a	n/a
1987	23.7	3,101	6.7%	8.2%	n/a	n/a
1988	24.5	3,158	0.1%	7.2%	n/a	n/a
1989	26.1	3,306	2.6%	7.7%	n/a	n/a
1990	29.0	3,560	7.1%	6.5%	16.2%	n/a
1991	31.2	3,756	4.1%	7.7%	16.2%	66.4%
1992	34.5	4,065	8.0%	5.5%	16.2%	65.2%
1993	36.2	4,224	2.5%	4.0%	16.3%	66.9%
1994	38.3	4,362	3.6%	5.4%	16.3%	67.0%
1995	40.2	4,484	2.7%	6.2%	16.2%	68.8%
1996	43.7	4,808	6.9%	3.7%	16.1%	70.1%
1997	47.0	5,100	5.7%	3.6%	15.9%	69.9%
1998	49.9	5,342	5.0%	3.1%	16.1%	61.0%
1999	53.7	5,676	6.0%	2.8%	16.0%	65.0%
2000	57.3	5,993	4.3%	2.8%	15.7%	65.9%
2001	61.4	6,362	4.9%	1.9%	15.1%	54.7%
2002	63.4	6,503	1.7%	1.9%	15.3%	54.2%
2003	68.2	6,931	5.5%	2.1%	14.5%	55.1%
2004	74.3	7,476	6.0%	2.5%	14.2%	54.1%
2005	79.7	7,947	4.0%	2.4%	12.8%	52.4%
2006	86.8	8,570	5.7%	3.2%	12.5%	47.8%
2007	94.7	9,260	6.3%	3.0%	12.4%	44.8%
2008	100.8	9,763	4.5%	4.3%	12.4%	42.0%
2009	104.8	10,036	3.1%	3.7%	13.3%	40.5%
2010	108.8	10,315	2.6%	3.3%	13.0%	39.2%
2011	108.9	10,204	−1.9%	3.5%	18.9%	43.1%
2012	115.2	10,694	3.9%	5.1%	16.7%	47.7%
2013	120.0	11,020	2.4%	5.8%	15.3%	46.8%
2014	124.9	11,355	2.3%	4.9%	15.3%	51.6%
2015	127.6	11,487	1.1%	4.9%	15.4%	54.8%
2016	130.5	11,448	1.0%	3.7%	15.5%	61.2%
2017	135.4	11,755	1.9%	5.3%	15.3%	71.3%

Tunisian exports in 2006

In 1992, Tunisia re-entered the private international capital market for the first time in 6 years, securing a $10-million line of credit for balance-of-payments support. In January 2003 Standard & Poor's affirmed its investment grade credit ratings for Tunisia. The World Economic Forum 2002-03 ranked Tunisia 34th in the Global Competitiveness Index Ratings (two places behind South Africa, the continent's leader). In April 2002, Tunisia's first US dollar-denominated sovereign bond issue since 1997 raised $458 million, with maturity in 2012.

The Bourse de Tunis is under the control of the state-run Financial Market Council and lists over 50 companies. The government offers substantial tax incentives to encourage companies to join the exchange, and expansion is occurring.

The Tunisian government adopted a unified investment code in 1993 to attract foreign capital. More than 1,600 export-oriented joint venture firms operate in Tunisia to take advantage of relatively low labor costs and preferential access to nearby European markets. Economic links are closest with European countries, which dominate Tunisia's trade. Tunisia's currency, the dinar, is not traded outside Tunisia. However, partial convertibility exists for bona fide commercial and investment transaction. Certain restrictions still limit operations carried out by Tunisian residents.

The stock market capitalisation of listed companies in Tunisia was valued at $5.3 Billion in 2007, 15% of 2007 GDP, by the World Bank.[25]

For 2007, foreign direct investment totaled TN Dinar 2 billion in 2007, or 5.18% of the total volume of investment in the country. This figure is up 35.7% from 2006 and includes 271 new foreign enterprises and the expansion of 222 others already based in the country.

The economic growth rate seen for 2007, at 6.3% is the highest achieved in a decade.

On 29 and 30 November, Tunisia held an investment conference with country chiefs from all around the world with pledges that have reached $30 billion to finance new public projects.[26]

• Production: 16.13 Billion kWh (2011)[30]
• Production by source:
  • fossil fuel: 96.8% (2010)
  • hydro: 1.7% (2010)
  • other: 1.5% (2010)
• Consumption: 13.29 billion kWh (2010)
• Exports: None (2010)
• Imports: 19 million kWh (2010)

Agriculture - products: olives, grain, tomatoes, citrus fruit, sugar beets, dates, almonds,

• Economy of Africa
• List of companies based in Tunisia
• United Nations Economic Commission for: Africa & Western Asia

• Historic Growth Trend of Tunisia’s Economy, 1962 – 2007
• Economy of Tunisia at Curlie
• Economy of Tunisia extracted from the CIA factbook public data