The data of the Central Bank of Tunisia on economic and monetary developments and medium-term prospects, showed that the trade deficit decreased on an annual basis by 4.3 billion dinars (1.5 billion dollars) during the first seven months of 2021.
The commercial exchange coverage rate decreased by 1.2 percent at the end of last July. The Central Bank and the National Institute of Statistics attributed this to the acceleration of the decline in the volume of exports by 13.3 percent and imports by 11.9 percent, compared to the previous month.
The average trade deficit before the pandemic registered record levels of about $5.3 billion, which put pressure on cash reserves, which amounted to about $4.3 billion in 2016, while those reserves amounted to more than $7.3 billion. Official statistics indicate that the trade deficit with Turkey is about $2.5 billion ($900 million), which is the third largest trade deficit after China and Italy.
Tunisia's need for financing is estimated at 6.7 billion dollars expected in the current year's budget, and could reach 8.2 billion dollars as a result of many factors, including the rise in the price of crude oil in international markets.
Source (London-based Al-Arab Newspaper, Edited)
