The energy trade deficit increased by 26% in January 2024 to TND 1,011 million (taking into account Algeria's exported gas royalties), according to the monthly report on the energy situation for January 2024 published by the National Observatory for Energy and Mines,

Exports of energy products went up by 44% in value in January 2024 compared to the same period last year, reaching 279 million dinars.

Similarly, the value of imports of petroleum products grew by 30% compared to the same period in 2023, reaching 1,290 million dinars.

According to the report, trade in the energy sector is highly sensitive to three factors: the quantities traded, the dollar/dinar ($/TND) exchange rate and the price of Brent crude oil, the benchmark to which the prices of imported and exported crude oil and petroleum products are indexed.

In January 2024, Brent crude oil prices were $2/bbl lower than in January 2023. Note that bbl is an American measure of capacity, equivalent to about 158.98 litres.

Over the same period, the Tunisian dinar remained at the same level as a year earlier against the US dollar, the main trading currency for energy products.

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