Tunisia-Tunisia ‘s GDP up by 1% in the third quarter of 2019

Tunisia’s Gross Domestic Product “ GDP,” increased by 1% in the third quarter of 2019 opposed to the similar quarter of 2018 and by 0.2% contrasted to the second quarter of 2019,according to figures published by the National Institute of Statistics (INS).

During the third official quarter, the economic value of manufacturing industries carefully slipped by 1.6% due to the marked deterioration in production in the textile, clothing and footwear sectors by 3.7%, the mechanical and electrical industries.2.3% and the construction materials and ceramics industries -0.6%.

On the other hand, the chemical and agricultural and food processing industries progressed by 4.2% and 1.3% sequentially. Moreover, Non-manufacturing industries sector recorded a decay of 2.4% compared to the third quarter of last year.

This slump is the outcome of the sustained deterioration in production in the oil and gas extraction sector, which went below 6.8% compared to 2018, and in the building and construction sector that fell 1.6%.

Besides, the services sector maintained its continued increase with a 1.7% increase in value-added due to the rise in land and catering 7.6%, transport services 2.4% and financial services 4.9%.

In the agriculture and fisheries division, it’s value-added expanded by 3.1% , this increase is largely due to a recording grain harvest of approximately 24 million quintals this year.