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Economy of Tunisia

Tunisia is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developing nation, Tunisia may not be able to offer consistent social services to its citizens. These social services may include things like public education, reliable healthcare, and law enforcement. Citizens of developing nations may have lower life expectancies than citizens of developed nations. Each year, Tunisia exports around $17.46 billion and imports roughly $24.95 billion. 15.2% of population in the country are unemployed. The total number of unemployed people in Tunisia is 1,772,194. In Tunisia, 3.8% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Tunisia is low, indicating that it has a stable economy. Investors should consider Tunisia to be a safe location for investments and other financial ventures. Government expenditure on education is 7.1% of GDP. The Gini Index of the country is 40. Tunisia is experiencing poor equality. The gap between the richest and poorest citizens in this country is quite noticeable. Tunisia has a Human Development Index (HDI) of 0.721. Tunisia has an upper medium HDI score. This indicates that the majority of citizens will be able to attain a desirable life, though some citizens will not be able to achieve high living standards. The Global Peace Index (GPI) for Tunisia is 1.952. Due to strong law enforcement presence and high social responsibility, Tunisia is very safe by international standards. The strength of legal rights index for Tunisia is 2. Overall, it is considered to be rather weak - bankrupcy and collateral laws are unable to protect the rights of borrowers and lenders in case of credit-related complications; credit information, if any at all, is scarce and hardly accessible.

Currency

The currency of Tunisia is Tunisian dinar. The plural form of the word Tunisian dinar is dinars. The symbol used for this currency is د.ت, and it is abbreviated as TND. The Tunisian dinar is divided into Millime; there are 1000 in one dinar.

Credit rating

The depth of credit information index for Tunisia is 5, which means that information is usually sufficient and quite accessible, although occasionally some necessary details may be lacking. According to the S&P credit-rating agency, Tunisia has a credit rating score of BB-, and the prospects of this rating are negative. According to the Fitch credit-rating agency, Tunisia has a credit rating score of BB-, and the prospects of this rating are negative. According to the Moody's credit-rating agency, Tunisia has a credit rating score of Baa3, and the prospects of this rating are negative.

Central bank

In Tunisia, the institution that manages the state's currency, money supply, and interest rates is called Central Bank of Tunisia. Locally, the central bank of Tunisia is called Banque Centrale de Tunisie. The average deposit interest rate offered by local banks in Tunisia is 7.37%.

Public debt

Tunisia has a government debt of 52.3% of the country's Gross Domestic Product (GDP), as assessed in 2012.

Tax information

The corporate tax in Tunisia is set at 30%. Personal income tax ranges from 0% to 35%, depending on your specific situation and income level. VAT in Tunisia is 18%.

Finances

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Tunisia is $124729 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Tunisia was last recorded at $11 million. PPP in Tunisia is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Tunisia is 46,883 billion. Based on this statistic, Tunisia is considered to have a medium economy. Countries with medium economies support an average number of industries and opportunities for investment. It should not be too difficult to find worthwhile investment opportunities in medium economies. The Gross Domestic Product (GDP) per capita in Tunisia was last recorded at $4 million. The average citizen in Tunisia has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Tunisia averaged 2.8% in 2014. According to this percentage, Tunisia is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly. To read more about financial information click on finances of Tunisia.

Industry

Major industries in the country are petroleum, mining (particularly phosphate, iron ore), tourism, textiles, footwear, agribusiness, beverages. The total labor force of Tunisia is 4,110,050 people, wherein 15.2% of population in the country are unemployed. The total number of unemployed people in Tunisia is 1,772,194. The Industrial Production growth rate of Tunisia is 1.6%.To read more about industrial information within Tunisia click on industry of Tunisia.

Agriculture

There are 26489 km2 of arable land in Tunisia, and it comprises 16% of the country's total territory. There are 46810 km2 of cultivated land in Tunisia. The country's major agricultural crops and products are olives, olive oil, grain, tomatoes, citrus fruit, sugar beets, dates, almonds, beef, dairy products.To read more about agriculture click on agriculture of Tunisia.