real estate

Tunisia's real GDP up 2.4% in Q1 2022

May 17, 2022

(TAP)-Tunisia's real gross domestic product (GDP) adjusted for seasonal variations and calendar effects, grew by 2.4% year-on-year in the first quarter of 2022 (Q1/January-March), the National Institute of Statistics (INS) announced.

Compared to the previous quarter, it improved by 0.7%, similar to that recorded a quarter earlier.

Converted into an annualised growth rate, the latter is in line with the economy's growth pattern in recent years, the same source specified.

These data indicate a gradual recovery in activity, notably in a context of increasing challenges, but nevertheless conceal diverse sectoral profiles.

In fact, economic growth in Q1 of 2022 mainly took advantage of the continued momentum towards normalisation of activity in the mining sector and also of a perceptible improvement in the tourism-related industries.

While activity remains at a relatively moderate pace in the manufacturing industries, it declined in the construction sector, the INS recalled, considering that the positive element in this trajectory is that, two years later, the level of real production at the beginning of 2022 finally reached the level achieved in Q1 of 2020, just before the outbreak of the COVID-19 pandemic.

The INS statistics show a variable development of the various sectors' performance. Hence, the agricultural and fisheries sector's added value grew by 3.3% year-on-year.

As regards manufacturing industries, the added value rose by 10.8% for the textile, clothing, leather and footwear sector, by 9.6% for the agro-food industries sector, by 4.1% for the mechanical and electrical industries and by 2.1% for the chemical industries.

Conversely, the added value of the sector of the Construction Materials and Ceramics industries fell by 6.7%.

In the non-manufacturing industries, production decreased due to a 9.5% decline in the oil and gas extraction sector and a 12.2% drop in construction.

In the services sector, the production of the hotels, restaurants and cafés sector was up by 11.2% and the transport services sector's added value up by 8.6%.

tap.info

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