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07532-9781463912710.Pdf ® 1995 International Monetary Fund February 1995 IMF Staff Country Report No. 95/17 Tunisia—Statistical Annex This statistical annex on Tunisia was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country. In releasing this document for public use, confidential material may have been removed at the request of the member. Copies of this report are available to the public from Internationa] Monetary Fund • Publication Services 700 19th Street, N.W. • Washington, D.C. 20431 Telephone: (202) 623-7430 • Telefax: (202) 623-7201 Telex (RCA): 248331 IMF UR Internet: [email protected] Price: $15.00 a copy International Monetary Fund Washington, D.C. ©International Monetary Fund. Not for Redistribution This page intentionally left blank ©International Monetary Fund. Not for Redistribution INTERNATIONAL MONETARY FUND TUNISIA Statistical Annex Prepared by a staff team consisting of Mr. A. Jbili (head-MED), Mr. K. Enders (MED), Mr. S. Chaai (MED), Mr. P. Duran (MED), and Ms. A.M. Guide (MAE) Approved by the Middle Eastern Department December 22, 1994 Contents Page Basic Data iii Recent Progress in Financial Sector Reform 1 Tables 1. Real GDP Growth by Sector, 1990-94 16 2. Supply and Use of Resources--Real Growth Rates, 1990-1994 17 3. Sectoral Distribution of GDP, 1989-94 18 4. Supply and Use of Resources, 1989-94 19 5. Production of Major Agricultural Crops, 1989-94 20 6. Supply and Use of Cereals, 1989/90-1993/94 21 7. Producer Prices of Principal Agricultural Commodities, 1989-94 22 8. Energy Production and Consumption, 1989-94 23 9. Indicators of Tourism Activity, 1989-94 24 10. Consumer Price Index, 1989-94 25 11. Consumer Price Index by Price Regime, 1989-93 26 12. Producer Price Index, 1989-94 27 13. Wage and Employment Indicators, 1989-93 28 14. Gross Fixed Investment by Economic Sector and Financing, 1989-94 29 15. Consolidated Financial Operations of the Central Government, 1989-94 30 16. Consolidated Revenue and Grants of the Central Government, 1989-93 31 17. Government Petroleum Revenues, 1989-94 32 18. Economic Classification of Consolidated Expenditure of the Central Government, 1989-94 33 19. Operations of the Subsidy Fund, 1989-94 34 ©International Monetary Fund. Not for Redistribution - ii - Contents 20. Monetary Survey, 1989-94 35 21. Assets and Liabilities of the Central Bank, 1989-94 36 22. Assets and Liabilities of Deposit Money Banks, 1989-94 37 23. Selected Interest Rates, 1989-94 38 24. Balance of Payments, 1989-94 39 25. Foreign Trade Indicators, 1990-94 40 26. Value of Foreign Trade by Commodity Class, 1989-94 41 27. Volume of Foreign Trade by Commodity Class, 1990-94 42 28. Trade Balance in Hydrocarbons, 1989-93 43 29. Exports of Phosphate Rock, Phosphate Derivatives, and Other Chemical Products, 1989-93 44 30. Exports and Imports of Primary Products by Major Categories, 1989-93 45 31. Direction of Trade, 1989-93 46 32. External Debt and Debt Service Payments, 1989-93 47 33. Composition of External Debt by Creditor, 1989-93 48 34. Selected Exchange Rate Indices, 1989-94 49 35. Structure of Imports by Regime, 1989-92 50 Charts 1. Financial Deepening 7 2. Treasury Bills Outstanding 8 3. Number of Investment Funds 9 4. Stock Market Capitalization 10 5. Stock Market Development 11 Appendix. Summary of the Tax System, 1994 51 ©International Monetary Fund. Not for Redistribution - Ill - Tunisia - Basic Data Area, population and GDP per capita Area 165,154 square kilometers Population Total (1993) 85 million Growth rate 1.8 percent GDP per capita (1993) SDR 1,235 Prer«*"L« 1989 1990 1991 1992 1993 1994 (In millions of dinars) Gross domestic product at 1990 market prices 10,019 10,798 11,217 12,110 12365 12,906 Agriculture and Gshing 1305 1,763 2,019 2,128 2,003 1,864 Mining 125 103 103 99 86 98 Hydrocarbons 677 620 706 707 634 619 Electricity and water 213 215 225 237 247 256 Manufacturing 1,763 1,796 1,883 2,026 2,079 2^41 Of which: food processing 438 394 430 480 442 486 Construction and public works 376 429 426 453 492 531 Services 4,431 4,643 4,601 5,099 5,405 5,792 Indirect tans minus subsidies 1,130 1,229 1,254 1361 1,418 1,505 Gross domestic product at current market prices 9,531 10,798 11,997 13,754 14,688 16,134 Private sector consumption I/ 6,520 7390 7,990 8,932 9386 10338 Central government consumption 1,157 1,245 1,444 1390 1,769 1,943 Gross find capital formation 2,157 2,635 2,912 3,635 4,168 4,658 Changes in stocks 101 242 231 496 140 82 Resource gap -404 -714 -580 -899 -974 -1,087 Gross national product 9,142 10,438 11,498 13,236 13,926 15,445 Gross national disposable income 9,591 10,943 12,013 13,736 14300 16,101 Gross national savings 1,914 2308 2379 3,214 3,145 3,620 Prices (percentage changes) GDP deflator 7.2 5.1 7.0 6.2 4.6 5.2 Consumer prices 7.7 6.5 8.2 5.8 4.0 4.5 Government finance 2j Total revenue 2,928 3,286 3,491 4,031 4,451 4,486 Tax revenue 2,258 2,551 2,875 3,294 3,625 4,044 Nontax revenue 670 735 617 737 826 842 Grants 143 70 33 54 37 37 Total expenditure and net lending 3,483 3,787 4,179 4,445 4,914 5304 Current expenditure 2,693 2,863 3,176 3,490 3^35 4,210 Capital expenditure 725 880 1,026 891 1,014 1,122 Net lending 65 44 -24 64 65 -28 Overall deficit including grants -412 -431 -655 -360 -426 -382 Foreign financing (net) 118 75 319 22 178 144 Domestic financing (net) 294 356 336 337 248 238 Of which: banking system (net) 45 85 45 -114 -47 -14 II Includes all economic agents except the Central Government. 2/ Consolidated operations; payment—order basis. ©International Monetary Fund. Not for Redistribution - iv - Tunisia - Basic Data (concluded) PrdL 1989 1990 1991 1992 1993 1994 (In millions of dinars) Money and credit (end of period) June Foreign assets (net) 668 612 526 547 563 400 Domestic credit 5,563 6,143 6,741 7,478 8,004 8,298 Central government (net) 722 808 853 687 640 507 Other agents 4,841 5335 5,888 6,791 7,364 7,791 Money and quasi-money 4,910 5,220 5,507 5,903 6,294 6,216 Money 2^27 2,649 2,640 2,781 2,916 2,954 Quasi—money 2,383 2^71 2,867 3,122 3,378 3,262 Other items (net) U21 1,535 1,761 2,122 2^73 2,482 (In millions of SDRrt Balance of payments Exports, &o.b. 2^86 2£92 2,711 2JBSO 2,724 3,015 Imports, £o.b. -3,228 -3,828 -3,577 -4316 -4,206 -4,707 Trade balance -942 -1,236 -866 -1,466 -1,481 -1,692 Services and transfen (net) 699 735 445 708 632 900 Current account balance -242 -500 -421 -758 -849 -792 Capital account (net) 305 426 373 841 828 943 Grants 161 154 89 58 74 45 Direct foreign investment (net) 113 137 121 346 443 421 Medium- and long-term loans 101 80 189 188 271 430 Other -70 55 -26 250 40 48 Overall surplus or deficit (-) 62 -74 -48 83 -21 151 Gross official reserves (end of period) 739 565 559 658 627 778 External debt Disbursed and outstanding (end of period) 4,713 5,007 5355 5,424 5,637 6,157 Terms of trade (percentage changes) Export prices (in SDKs) 7.9 85 0.2 1.9 -4.7 -05 Import prices (in SDKs) 6.7 8.9 0.9 4.1 -5.0 03 Terms of trade 1.1 -0.4 -0.7 -2.1 0.4 -0.8 Exchange rates (period averages) Dinar/SDR 1.217 1.192 1.265 1.246 1.402 1.451 Dinar/U.S. dollar 0.949 0.878 0.925 0.884 1.004 1.016 Nominal effective exchange rate (percentage changes) -4.2 -4.6 -23 0.7 -2.0 Real effective exchange rate (percentage changes) -1.7 -2.8 1.1 2.1 -15 ©International Monetary Fund. Not for Redistribution Recent Progress in Financial Sector Reform Since 1987, Tunisia has undertaken a series of measures of financial sector liberalization and reform. The current appendix summarizes the progress achieved, highlighting in particular the main changes introduced over the past two years. These include the adoption of a new banking law, the introduction of an interbank foreign exchange market, the issuance of negotiable treasury bills, and the revision of the stock market law. 1. Background i/ At the start of the reform process in 1987, the Tunisian banking system was characterized by a proliferation of restrictions, including full controls on lending and deposit interest rates, directed credit, liquid asset ratios, and Central Bank (BCT) control over lending decisions. This, together with the lack of competitive practices, left most banking institutions with weak asset bases. Foreign competition in commercial banking was also absent. The remainder of the financial sector was relatively small and, for the most part, also tightly controlled. This applied in particular to the development banks and insurance companies, which*-like commercial banks--were obliged to hold long-term public debt ("bons d'equipement") at below market interest rates.
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