Italy continues to be Tunisia’s top supplier during the period from January to October 2024, solidifying a record that has been in place for some time. According to data from Tunisia’s National Statistics Institute (INS), exports of Italian-made products to this North African country reached 8.2 billion Tunisian dinars (approximately 2.4 billion euros) in the first ten months of the year, marking a decrease of 2.8% compared to the same period last year, but still ahead of other competing countries.
Imports from Tunisia to Italy increased by 4.2% compared to the same period last year, amounting to 1.4 billion Tunisian dinars (414 million euros) in favor of the North African country.
Among the main products exported from Italy to Tunisia are energy raw materials (refined oil), metals, fabrics, leathers, electrical equipment, plastics and plastic products, engines, generators, transformers, chemical and pharmaceutical products, as well as installations and machinery. The primary products imported by Italy from Tunisia include clothing and footwear, vehicle parts and accessories, oils and fats, engines, generators, transformers, plastic articles, chemical products, fertilizers, steel products, and crude oil.
It’s clear that there is significant trade in refining and processing raw or semi-finished materials into finished products from Italy to Tunisia. Italy also stands as the main destination for Tunisian organic olive oil, accounting for over 50% of the total quantities exported by this North African country. Italy is followed by two other European countries, Spain and France, importing 28.07% and 12.10% of Tunisia’s organic olive oil, respectively.
From January to October 2024, Tunisian exports saw a slight increase of 2.1%, reaching 51.6 billion dinars (equivalent to 15.44 billion euros), while imports grew by 1.4% compared to the same period last year, which had seen a decline of 3.3%. Tunisia’s trade deficit slightly decreased in 2024, going from 15.85 billion dinars (4.69 billion euros) in the first ten months of 2023 to 15.71 billion dinars (4.65 billion euros). Despite this, the trade balance remains in deficit, necessitating a detailed analysis by legislative authorities currently discussing the 2025 Finance Bill.
The growth in Tunisian exports in 2024 was mainly driven by the agri-food sector (+25.4%) and the energy sector (+23.8%). Conversely, exports of minerals (-24.8%) and textile products (-5.4%) saw declines. The 1.4% increase in Tunisian imports was primarily due to higher imports of energy products (+13.4%), needed to meet growing domestic demand, along with equipment goods (+4.6%) and consumer goods (+5.2%), indicating a recovery in economic activity. However, this growth was partly offset by a decrease in imports of raw materials (-4.3%) and food products (-12.5%).
