Tunisia's trade deficit increased to TNT 1568.3 million in January of 2019 from TNT 1211.7 million in the same month of the previous year. Imports surged 24 percent to TNT 5383.8 million, boosted by higher purchases of capital goods (38.8%); energy products (26.6%), namely natural gas (62.1%) and refined petroleum products (14%). Among main import partners, imports rose from the EU (14.2%), primarily Italy (50.2%) and France (6.1%). Meantime, exports rose at a slower 21.9 percent to TNT 3815.5 million, mainly led by shipments of mining products, phosphates & derivatives (74%); other manufactured products (46.6%); mechanical & electrical products (29.6%); energy & lubricants (18%) and textiles, clothing & leather (16.3%). Among major export partners, sales grew to the EU (24.3 percent), mostly Italy (48.2%), Germany (28%) and France (20.4%). Balance of Trade in Tunisia averaged -567.41 TNT Million from 1993 until 2019, reaching an all time high of -40.30 TNT Million in March of 2007 and a record low of -2213.90 TNT Million in August of 2018.
Balance of Trade in Tunisia is expected to be -1874.00 TNT Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Tunisia to stand at -1849.00 in 12 months time. In the long-term, the Tunisia Balance of Trade is projected to trend around -1852.00 TNT Million in 2020, according to our econometric models.