Tunisia: Investments in industry pick up 19.7% until end August 2023

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Tunisia - Reported investments in the industrial sector recorded an increase of 19.7% at the end of August 2023, reaching TND 1,601.3 million, compared to TND 1,338.3 million in the same period of 2022, according to the economic status bulletin published by the Agency for the Promotion of Industry and Innovation (APII).

The number of reported projects grew by 8.1% to 2064. These projects will generate 2,768 jobs.

The APII reported that several sectors saw an increase in the number of investments declared, notably the agri-food industry (+7.6%) and the building materials, ceramics and glass industry (+55.2%).

Mechanical and electrical engineering (+2.7%) and chemicals and chemical products (+2.7% and +91.2% respectively) also posted increases.

Similarly, the textile and clothing sector grew by 50.1% at the end of August 2023, while the miscellaneous industries sector recorded an increase of 24.8%.

Investments reported as part of start-up projects rose 27.9%, from TND 674.5 million in the first eight months of 2022 to TND 862.9 million in the same period of 2023.

The APII also reported an increase of 19.8% in investments reported in fully exporting industries, to TND 679.4 million.

Similarly, industries whose production is oriented towards the local market went up 19.6%, rising from 771.1 MD at the end of August 2022 to TND 921.9 million during the same period in 2023.

As for 100% foreign and partnership industrial investments, they increased from TND 499 million at the end of August 2022 to TND 341.3 million during the same period in 2023. This represents an increase of 7.8% in the number of projects for this type of investment.