Tunisia's economy grew by 2.4%, against 4.3% in 2021, according to the first estimation for the whole year 2022 of the results of the compilation of quarterly national accounts, published Wednesday by the National Institute of Statistics (INS).

Besides, the results show that the fall in GDP in 2020 was only partially covered, as the level of real GDP in the fourth quarter (Q4) of 2022 is still two percentage points lower than its pre-pandemic crisis level (Q4 2019).

"During Q4 2022, the national economy recorded an annual growth in real GDP, adjusted for seasonal variations, at a rate of 1.6%, compared to Q4 2021. Compared to Q3 2022, the real GDP went up by 0.5%," the INS specified.

In this development, the economic activity is boosted by the consolidation of the value added growth rate in the manufacturing industries (at 6.6% per year), combined with a more moderate increase in services (2.6% per year).

The growth rate of the services sector slowed down relatively, with a rise of 2.6% in its value added (year-on-year) in Q4 2022, compared to increases of 3, 3.8 and 4.2%, respectively, in the first three quarters of 2022. The growth of the services sector is mainly explained by the 20.3% rise in the value added of the hotels, restaurants and cafés sector.

The value added of the agricultural and fisheries sector grew by 2.1% in G.A., against a 12% drop in the construction and building sector.

Conversely, the INS statistics show a 9.8% drop in the value added of the energy and mining sector in Q4 2022, compared to Q4 2021, due to the 10.5% drop in the output of the oil and gas extraction sector and the deceleration of growth in the mining sector by 24.2% year-on-year.

Likewise, the growth rate in the construction sector continues to be negative.

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