News

Tunisia’s GDP was up 1% in Q1

17 de maio de 2016

São Paulo – Tunisia’s Gross Domestic Product (GDP) was up 1% in Q1 2016 from Q1 2015. In Q1 from Q4 2015, it was up 0.4%, according to preliminary data released this Tuesday (17th) by the country’s National Statistics Institute (NIS).

Industrial activity was up 1.4% year-on-year in Q1 and up 3.3% in Q1 from Q4. The NIS reported that the biggest improvements were in chemicals, building materials and the mechanical and electrical industries.

Conversely, activity dropped in the food industry, mostly due to a drop in olive oil production early on in the year. Textiles, clothing and leather industry activity edged up by 0.7%.

Base industries activity grew 0.9% year-on-year in Q1. Oil and gas activity was down 12.6%, partly offset by growth in mining, civil construction and electrical energy.

Services sector activity climbed 1% after having dropped in Q4 2015, driven by postal services, telecoms, financial services and transportation. Activity levels plummeted by 12% in hotels and restaurants. Tunisia’s tourism industry was badly hit by the terrorist attacks last year in the capital Tunis and the coastal city of Sousse. Government services activity was up 2.8%.

Agricultural activity was down 2.5% in Q1 from a year ago after showing significant progress throughout last year. As was the case with the food industry, weak olives and olive oil production was a factor: production in that flagship industry for Tunisia fell by 60%.

*Translated by Gabriel Pomerancblum