Economic trends
Over the last ten years, Tunisia has managed to maintain the deficit of its budget at a reasonable level. The country shows an average annual growth rate of about 5%. Tunisia is amongst the so-called "emerging" countries since 2001. Strategic choices have been made by the government, particularly economic liberalization and progressively opening up (joining the WTO, association agreement with the EU), macroeconomic stability (regular growth of national wealth and curbed inflation), the careful management of the currency and exchange rates, and the control of the current deficit. The official unemployment rate has stabilized. The current deficit continues to shrink thanks to the recovery of the trade balance and to keeping transfers from immigrants at a low percentage of the GDP. Private investment has shrunk slightly because of the international financial crisis. However, the country was only marginally affected.
Main branches of industry
In recent years, agriculture has shown a high growth rate and has allowed the country to reach a satisfactory level of food safety. It provides about 11% of the GDP and employes around 25% of the workforce. This performance is the consequence of large-scale support and modernization efforts made within the framework of a development policy and of agricultural and rural activities regulation.
The non-manufacturing industries account for 17% of the GDP. The manufacturing industries, mainly textile and food, make up 20% of the GDP. They are predominantly orientated towards export.
The local economy is largely orientated towards services, which account for 40% of the GDP.
International trade
In 2007 and 2008 Tunisia showed a trade balance deficit because of the surge in oil prices. However, the deficit is decreasing in 2009. Tunisia is following through its policy to open up its economy and has signed an association agreement (summary in French) with the European Union which removes tariff and trade barriers on most goods. It also signed a Trade and Investment Framework Agreement (TIFA) with the United States which will later become a free trade agreement.
Tunisia's main import and export partners are the European Union, Libya and Russia. Tunisia's main export goods are textile and leather, mechanical and electrical products, food industry and energy products. The country imports raw and semi-finished materials, equipment goods, consumption goods (other than food) and financial and insurance services.
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