- published: 28 May 2016
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Tunisia is in the process of economic reform and liberalization after decades of heavy state direction and participation in the economy. Prudent economic and fiscal planning have resulted in moderate but sustained growth for over a decade. Tunisia's economic growth historically has depended on oil, phosphates, agri-food products, car parts manufacturing, and tourism. In the World Economic Forum 2008/2009 Global Competitiveness Report, the country ranks first in Africa and 36th globally for economic competitiveness, well ahead of Portugal (43), Italy (49) and Greece (67).[dead link]
Current GDP per capita soared by 380% in the Seventies. But this proved unsustainable and it collapsed to a paltry 10% in the turbulent Eighties rising to a modest 36% in the Nineties signifying the impact of successful diversification.
This is a chart of trend of gross domestic product of Tunisia[1] (estimated) by the International Monetary Fund with figures in millions of Tunisian Dinars.
For purchasing power parity comparisons, the US Dollar is exchanged at 0.44 Tunisian Dinars only. Mean wages were $4.17 per manhour in 2009.
Tunisia (US i/tuːˈniːʒə/ two-NEE-zhə or UK /tjuːˈnɪziə/ tew-NIZ-iə; Arabic: تونس Tūnis pronounced [ˈtuːnɪs]), officially the Republic of Tunisia (Arabic: الجمهورية التونسية al-Jumhūriyyah at-Tūnisiyyah), is the northernmost country in Africa. It is an Arab Maghreb country and is bordered by Algeria to the west, Libya to the southeast, and the Mediterranean Sea to the north and east. Its area is almost 165,000 square kilometres (64,000 sq mi), with an estimated population of just under 10.7 million. Its name is derived from the capital Tunis located in the northeast.
Tunisia is the smallest country in North Africa. The south of the country is composed of the Sahara desert, with much of the remainder consisting of particularly fertile soil and 1,300 kilometres (810 mi) of coastline.
Tunisia has relations with both the European Union—with whom it has an association agreement—and the Arab world. Tunisia is also a member of the Arab Maghreb Union, the Arab League, and the African Union. Tunisia has established close relations with France in particular, through economic cooperation, industrial modernization, and privatisation programs.