Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.
Tunisia reduces food trade deficit by 93%Friday, January 15, 2016 > 09:43:51
Deficit declined from USD 678 million in 2014 to USD 44.8 million in 2015. The coverage rate of imports by exports reached 98%.
The coverage rate of imports by exports in Tunisia’s trade balance reached 98% in 2015 due to the increase in revenues from foreign sales of olive oil, which accounted for 52% of the total of exports, according to information released by the country’s Ministry of Agriculture this Wednesday (13th). In 2014, the coverage rate was 60%.
The ministry said in a statement that the reduction of the deficit reflected a 78% increase in the value of Tunisian food exports, while imports increased only 9%. This way, the deficit declined from TND 1.38 billion (USD 678.5 million) in 2014 to TND 91.1 million (USD 44.8 million) in 2015, or 93% less.
The performance in food trade contributed to reducing teh country’s overall trade deficit. The coverage rate of imports by exports was 69.6%. Disregarding the food sector, the percentage drops to 66.7%.
Besides olive oil, other highlights in foreign sales of food were dates, with shipments that increased 15% to 108,000 tons, amounting to TND 445 million (USD 218.7 million). There was also an increase in citrical fruits exports (6%), pastry (12%), fruits and vegetable preparations (32%) and seafood (9%).
There was, however, a decline of 11% in external sales of other agricultural products, especially potatoes and tomatoes.