10 Surprising Facts About The GDP of Tunisia That You Need To Know
If you’re interested in global economics and finance, you’ve probably heard of Tunisia.
This small North African country has been in the news for a variety of reasons over the past few years, from the Arab Spring to its successful transition to democracy.
But what about Tunisia’s GDP? We’ll take a closer look at 10 surprising facts about Tunisia’s GDP that you need to know.
Introduction
Tunisia is a small country located in North Africa. Despite its small size, Tunisia has a diverse economy that has undergone significant changes over the past few decades.
In this article, we’ll take a closer look at the GDP of Tunisia and uncover some surprising facts about this important economic indicator.
What is GDP?
Gross Domestic Product (GDP) is a measure of the total value of all goods and services produced within a country in a given period of time.
It is often used as a key indicator of economic health and can be used to compare the relative economic performance of different countries.
The History GDP of Tunisia
Tunisia’s economy has undergone significant changes since it gained independence from France in 1956.
In the early years of independence, the Tunisian government pursued a policy of import substitution and nationalization, which led to a period of rapid economic growth.
However, by the 1980s, the Tunisian economy had stagnated, and the government began to pursue economic liberalization policies to encourage growth.
Tunisia’s GDP Growth Rate
Despite some challenges, Tunisia’s economy has experienced relatively strong growth in recent years. In 2020, Tunisia’s GDP growth rate was 4.6%, up from 1% in 2019.
This growth was driven by a rebound in the tourism sector, which had been severely impacted by the COVID-19 pandemic.
The Sectors of Tunisia’s Economy
Tunisia’s economy is divided into three main sectors: agriculture, industry, and services. Agriculture accounts for around 10% of GDP, while industry accounts for around 28% and services account for around 62%.
The Top Industries in Tunisia
The top industries in Tunisia include textiles, food processing, petroleum, and mining. The country is also known for its production of phosphates, which are used in fertilizer production.
Tunisia’s Trade Partners
Tunisia’s main trading partners include the European Union (EU), which accounts for around 75% of Tunisia’s exports and imports.
Other important trading partners include China, the United States, and Turkey.
The Role of Tourism in Tunisia’s Economy
Tourism is a key sector of Tunisia’s economy, accounting for around 14% of GDP. The country is known for its beautiful beaches, historic sites, and vibrant culture, which attract millions of tourists each year.
Tunisia’s Foreign Investment Climate
Tunisia has a relatively open foreign investment climate, with foreign investors welcome in many sectors of the economy.
The country has a range of incentives in place to encourage foreign investment, including tax breaks and subsidies.
Tunisia’s Economic Challenges
Tunisia faces a range of economic challenges, including high unemployment, a large informal economy, and a high public debt-to-GDP ratio.
The government has taken steps to address these challenges, such as implementing economic reforms and increasing investment in infrastructure.
However, progress has been slow, and many Tunisians continue to struggle with economic hardship.
| GDP nominal (2017) | GDP growth rate (2017) |
|---|---|
$39,952,095,561 |
1.96% |
- Nominal (current) Gross Domestic Product (GDP of Tunisia is $39,952,095,561 (USD) as of 2017.
- Real GDP (constant, inflation adjusted) of Tunisia reached $49,633,854,967 in 2017.
- GDP Growth Rate in 2017 was 1.96%, representing a change of 951,795,445 US$ over 2016, when Real GDP was $48,682,059,522.
- GDP per Capita in Tunisia (with a population of 11,433,443 people) was $4,341 in 2017, an increase of $34 from $4,307 in 2016; this represents a change of 0.8% in GDP per capita.
Gross Domestic Product (GDP of Tunisia
| Year | GDP Nominal (Current USD) |
GDP Real (Inflation adj.) |
GDP change |
GDP per capita | Pop. change |
Population |
|---|---|---|---|---|---|---|
| 2017 | $39,952,095,561 | $49,633,854,967 | 1.96% | $4,341 | 1.15 % | 11,433,443 |
| 2016 | $41,808,379,888 | $48,682,059,522 | 1.11% | $4,307 | 1.11 % | 11,303,945 |
| 2015 | $43,152,528,548 | $48,148,386,195 | 1.15% | $4,307 | 1.06 % | 11,179,949 |
| 2014 | $47,632,326,088 | $47,599,273,439 | 2.97% | $4,302 | 1.01 % | 11,063,201 |
| 2013 | $46,251,061,734 | $46,225,723,068 | 2.88% | $4,220 | 0.98 % | 10,952,951 |
| 2012 | $45,044,112,939 | $44,933,645,382 | 4.00% | $4,142 | 0.98 % | 10,847,002 |
| 2011 | $45,810,626,509 | $43,206,394,579 | -1.92% | $4,022 | 1.00 % | 10,741,880 |
| 2010 | $44,050,929,160 | $44,050,929,160 | 3.51% | $4,142 | 1.04 % | 10,635,244 |
| 2009 | $43,454,935,940 | $42,556,922,174 | 3.04% | $4,043 | 1.07 % | 10,525,694 |
| 2008 | $44,856,586,316 | $41,299,978,413 | 4.24% | $3,966 | 1.06 % | 10,414,433 |
| 2007 | $38,908,069,299 | $39,620,931,745 | 6.71% | $3,845 | 1.01 % | 10,304,726 |
| 2006 | $34,378,437,265 | $37,129,671,720 | 5.24% | $3,640 | 0.93 % | 10,201,214 |
| 2005 | $32,273,007,554 | $35,279,543,594 | 3.49% | $3,491 | 0.84 % | 10,106,771 |
| 2004 | $31,183,139,301 | $34,090,950,398 | 6.24% | $3,402 | 0.77 % | 10,022,277 |
| 2003 | $27,453,084,983 | $32,089,890,946 | 4.70% | $3,227 | 0.75 % | 9,945,277 |
| 2002 | $23,142,294,436 | $30,648,664,524 | 1.32% | $3,105 | 0.79 % | 9,871,251 |
| 2001 | $22,066,101,341 | $30,248,607,447 | 3.80% | $3,089 | 0.88 % | 9,793,903 |
| 2000 | $21,473,188,882 | $29,142,311,723 | 4.71% | $3,002 | 0.99 % | 9,708,350 |
| 1999 | $22,943,685,719 | $27,831,487,634 | 6.05% | $2,895 | 1.09 % | 9,613,588 |
| 1998 | $21,803,372,267 | $26,242,594,453 | 4.78% | $2,760 | 1.22 % | 9,509,857 |
| 1997 | $20,746,360,430 | $25,044,523,893 | 5.44% | $2,666 | 1.38 % | 9,395,123 |
| 1996 | $19,587,322,786 | $23,752,181,151 | 7.15% | $2,563 | 1.56 % | 9,267,340 |
| 1995 | $18,030,876,599 | $22,168,035,420 | 2.35% | $2,429 | 1.76 % | 9,125,398 |
| 1994 | $15,632,463,424 | $21,658,694,425 | 3.18% | $2,415 | 1.96 % | 8,967,916 |
5 FAQs About the GDP of Tunisia
- How does Tunisia’s GDP compare to other countries in the region? Tunisia’s GDP is among the highest in North Africa, but it is still lower than the GDP of some of the wealthier countries in the region, such as Libya and Algeria.
- What role does agriculture play in Tunisia’s GDP? Agriculture is an important sector in Tunisia’s economy, accounting for around 10% of the country’s GDP. Key crops include olives, dates, and citrus fruits.
- How has Tunisia’s GDP been affected by the COVID-19 pandemic? Like many countries around the world, Tunisia’s economy has been hit hard by the pandemic. The country’s GDP contracted by 8.8% in 2020, and the government has implemented a range of measures to try to mitigate the economic impact of the crisis.
- What is the outlook for Tunisia’s economy in the coming years? While there are still significant challenges facing Tunisia’s economy, there are also reasons for optimism. The country has a well-educated workforce and a strategic location, and there are opportunities for growth in areas such as renewable energy and digital technology.
- How can individuals and businesses support Tunisia’s economy? There are a number of ways that individuals and businesses can help to support Tunisia’s economy. This includes investing in the country, promoting tourism, and purchasing Tunisian products and services. Additionally, supporting efforts to improve governance and combat corruption can help to create a more stable and prosperous business environment in the country.
See Also related: GDP of Tunisia
- Population of Tunisia
- Demographics of Tunisia
- Demographics Africa
- World Demographics
- Demographics
- Population
Sources: GDP of Tunisia
- GeoNames
- World Population Prospects: The 2019 Revision – United Nations Population Division
- Organisation for Economic Co-operation and Development (OECD)
- World Urbanization Prospects – Population Division – United Nations
- United Nations Statistics Division
- World Bank