information:extraction
Economy

Ranked the most competitive economy in Africa by the World Economic Forum in 2009, Tunisia is an export-oriented country in the process of liberalizing and privatizing an economy that, while averaging 5% GDP growth since the early 1990s, has suffered from corruption benefiting politically connected elites. Tunisia's Penal Code criminalises several forms of corruption, including active and passive bribery, abuse of office, extortion and conflicts of interest, but the anti-corruption framework is not effectively enforced. However, according to the Corruption Perceptions Index published annually by Transparency International, Tunisia was ranked the least corrupt North African country in 2016, with a score of 41. Tunisia has a diverse economy, ranging from agriculture, mining, manufacturing, and petroleum products, to tourism, which accounted for 7% of the total GDP and 370,000 jobs in 2009. In 2008 it had an economy of US$41 billion in nominal terms, and $82 billion in PPP.

The agricultural sector accounts for 11.6% of the GDP, industry 25.7%, and services 62.8%. The industrial sector is mainly made up of clothing and footwear manufacturing, production of car parts, and electric machinery. Although Tunisia managed an average 5% growth over the last decade, it continues to suffer from a high unemployment rate, especially among youth.

The European Union remains Tunisia's first trading partner, currently accounting for 72.5% of Tunisian imports and 75% of Tunisian exports. Tunisia is one of the European Union's most established trading partners in the Mediterranean region and ranks as the EU's 30th largest trading partner. Tunisia was the first Mediterranean country to sign an Association Agreement with the European Union, in July 1995, although even before the date of entry came into force, Tunisia started dismantling tariffs on bilateral EU trade. Tunisia finalised the tariffs dismantling for industrial products in 2008 and therefore was the first non-EU Mediterranean country to enter in a free trade area with the EU.

The consequences of the Russian invasion of Ukraine for the global food supply are being felt particularly strongly in Tunisia.

In June 2023 the World Bank Group lent Tunisia $268.4 million to finance ELMED, an electrical interconnection project with Italy to import electricity generated from renewable energy sources to Sicily and the EU via a 600 Megawatt undersea cable.

Tunisia was ranked 79th in the Global Innovation Index in 2023.