Lower imports cut Tunisia's trade deficit to $4.7bn in 2020

TUNIS: Tunisia's trade deficit dropped by $2.7 billion in 2020 to $4.7 billion as imports declined because of the coronavirus pandemic, the state statistics institute said on Tuesday.

The deficit decreased from 19.43 billion dinars in 2019 to 12.75 billion dinars in 2020. Imports fell by 18.7% to 51.4 billion dinars, official figures showed.

Worsening trade deficits have been a dilemma in recent years. But its decline this year was one of the main reasons for an the increase in foreign exchange reserves in the country.

Central bank statistics showed on Tuesday that the country's foreign currency assets reached the equivalent of 162 days of imports, the highest level since 2011.