Tunisia: GDP grows 2.5% in Q1

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    Tunisia’s Gross Domestic Product (GDP) registered a growth of 2.5% in the first quarter of 2018, compared to the same quarter of the year 2017 and by 1.0% compared to the fourth quarter of 2017, the National Institute of Statistics (INS) said Tuesday.

    In the first three months of 2018, the value added of manufacturing industries increased 2.4% year-over-year and 2.9% over the last quarter of 2017, due to the growth in activity in vital sectors, namely the food and agriculture sector (+ 16.7%), in connection with the high production of olive oil, the textile, clothing and footwear sector (+ 0.2%) and the mechanical engineering sector (+ 5.3%).

    On the other hand, value added in the chemical and building materials and ceramics sectors decreased by 23.9% and 5.3%, respectively, because of lower local demand for certain products, namely cement (-6%).

    Value added in the non-manufacturing industries sector is down 5.3% from the same period last year, mainly due to the continued decline in production in the oil and natural gas extractive sector by 2.4% compared to the fourth quarter of 2017.

    As for the mining sector, it posted a decline of 37.9% at the end of March against a rise of 21.3% last year, while the building sector fell by 4.7%.

    In addition, the value added in the agriculture and fishing sector achieved a significant growth of around 11.9% year-on-year due to the rise recorded in the production of oil and olive which doubled compared to last year.

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