Tunisia's Growth Rate Reaches 1.1% in 1st Half of 2019
Tunisia’s Gross Domestic Product (GDP) grew 1.1 percent in the first half (H1) of 2019, well below government expectations of up to 3 percent of economic growth.
The value added of manufacturing industries fell 0.8 percent and 0.2 percent in Q2 of 2019 compared with the same period in 2018 and Q1 of 2019, respectively, the National Institute of Statistics (INS) said.
This is the result of the production of chemical industries plunging 8.2 percent and that of the textile-clothing and footwear sector following suit (-1.6 percent).
The value added of non-manufacturing industries dropped 2.6 percent in Q2 of 2019 compared with the same period in 2018 and 0.8 percent in comparison with Q1 of 2019.
This is due to the downward trend in the production of the petroleum and natural gas extraction sector (- 6.5 percent). Daily crude oil production dropped to around 36,000 barrels in Q2 of 2019 against around 39,000 barrels during the same period in 2018 (over 70,000 barrels/day in 2010).
The mining sector saw its production edge up 1.1 percent, driven by an 8.8 percent rise in phosphates production and despite a drop in the output of other extractive industries, such as salt (-25 percent compared to Q2 of 2018).
The construction industry posted, for its part, a 1.4 percent fall.
Figures released by the INS also showed that the sector of agriculture and fisheries posted a 2.8 percent rise in Q2 of 2019 as the grain harvest hit a record 24 million quintals in 2019.