Economy of Tunisia

Common card · No. 398947

Tunisia is considered a developing economy, classified as a Lower-middle Income country by the World Bank in 2023. In 2010, liberalisation efforts led to its graduation to the status of Upper-middle Income country, but backsliding and increasing terrorist attacks made it lose this status in 2015. Liberalisation efforts started in 1986 after three decades of dirigisme and state control of the economy. From 1 January 2008 onwards, the country opened up to international trade with the adoption of the free trade agreement with the European Union in 1995, a process which increased in scale after the 2011 Arab Spring and subsequent political reforms. Prudent economic and fiscal planning has resulted in moderate but sustained growth for over a decade. Tunisia's economic growth has depended on oil, phosphates, agri-food products, car parts manufacturing, and tourism. Compared to other countries in the Maghreb region (Algeria and Morocco), Tunisia placed second in GDP per capita and total development...

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