The Tunisian trade balance deficit crossed the threshold of 20,168.5 million dinars over the first eleven months of 2025, largely exceeding that of 2024. The figures published by the INS show a dynamic where imports are growing much faster than exports. The coverage rate thus fell to 74.2%, compared to 77.3% a year earlier. Energy remains the main source of imbalance.
The data reveals a deficit driven, firstly, by energy products, which show a hole of 10.3 billion dinars, followed by raw materials and semi-finished products (-5.5 billion), capital goods (-3.2 billion) and consumer goods (-1.9 billion). Only the food component offers a counterbalance thanks to a surplus of 875.5 million dinars.
Excluding energy, the deficit falls to -9.8 billion, but the energy bill remains heavy, slightly worsened compared to 2024. This gap is explained by an acceleration in imports (+5.8%) significantly greater than the increase in exports (+1.5%). At the end of November, Tunisia exported 57.9 billion dinars, compared to 78 billion imported.
Sectoral drivers of imbalance
Exports are increasing in phosphates and derivatives (+12%) as well as in the mechanical and electrical industries (+7.8%). On the other hand, three major sectors are declining: energy (-29.6%), agri-food (-11.2%), particularly olive oil, and textiles and clothing (-1.8%).
Sales of refined products fall by half, while the value of olive oil exports falls from 4.4 to 3.4 billion dinars, leveling the overall performance downwards.
To the European Union – which absorbs more than 70% of exports – sales are increasing slightly, particularly to Germany (+10%), France (+8.9%) and the Netherlands (+4.6%). Italy (-8.8%) and Spain (-9.2%) are declining. On the Arab market, the trend is rather upward with Libya, Algeria, Egypt and Morocco.
An import invoice drawn up by the equipment
Imports are increasing in almost all categories: capital goods (+14.6%), raw materials (+6.6%) and consumer products (+11%). Only two lines are declining: energy products (-4.2%) and food products (-7.7%).
With the European Union, imports reach 33.8 billion dinars, up 1.6 billion compared to 2024, driven by Germany and France. Outside Europe, China (+22.6%) and Turkey (+14.3%) confirmed their rise, unlike Russia (-20.9%) and India (-4.4%).
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