(Ecofin Agency) - Tunisia's trade deficit has decreased by 23.5% in the first four months of 2024, dropping to TND4.77 billion ($1.53 billion) compared to TND6.23 billion during the same period in 2023.

According to the National Institute of Statistics (INS), between January 1 and April 30 of this year, exports reached 21.24 billion dinars, up 4.8% from the same period last year, while imports stood at 26.01 billion dinars, marking a decrease of 1.8%.

The trade balance coverage rate, reflecting the proportion of imports covered by exports, saw an increase of 5.2 percentage points compared to the first four months of 2023, reaching 81.7% during the review period.

The rise in exports is attributed mainly to strong performances in the agri-food (+56.4%), energy (+17.8%), and mechanical and electrical industries (+3%) sectors, while the decline in imports is primarily due to a decrease in imports of raw materials and semi-finished products (-9%). Tunisia recorded its largest deficits with China (-2.53 billion dinars), Russia (-2.19 billion), and Algeria (-1.40 billion). However, the country boasted a surplus in its trade balance with other partners, including France (+1.94 billion dinars), Italy (+1.09 billion), and Germany (+761 million).