Libya Business News
Friday, January 27, 2023
  • Security
  • Oil & Gas
  • Industry
  • Politics
  • Construction
  • Finance
  • Tenders
  • Transportation
  • Videos
No Result
View All Result
Libya Business News
  • Security
  • Oil & Gas
  • Industry
  • Politics
  • Construction
  • Finance
  • Tenders
  • Transportation
  • Videos
Libya Business News
No Result
View All Result
Home Industry & Trade

Tunisian Economy Threatened as Libya Unravels

8th September 2014
in Industry & Trade, Oil & Gas, Security
Tunisian Economy Threatened as Libya Unravels
Share on FacebookShare on Twitter

By Ikhalas Latif, translated for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Libya Business News.

(Picture: The point where the borders of Libya, Tunisia and Algeria meet.)

Since July 2014, political instability and armed violence have been on the rise in Libya. The future of Tunisia’s neighboring country is uncertain and could escalate at any time into a conflict that permanently destabilizes the region.

The difficult economic situation in Tunisia could get worse at a time when the country has been expecting growth to take off in 2015 with the consecration of political stability after the elections. The Libyan crisis could endanger this optimistic scenario and is now directly impacting the Tunisian economy.

The Libyan crisis could negatively impact the Tunisian economic recovery, according to the report published in August 2014 by the United Nations’ Economic and Social Commission for Western Asia (ESCWA). Tunisia has been a member of ESCWA since 2012.

A correlation analysis between Libya and Tunisia from 1995 to 2013 has revealed that GDPs of the two countries are strongly linked despite their structural differences. The correlation is mainly due to the strong economic ties between Tunisia and Libya.

According to ESCWA, Europe accounts for nearly 80% of Tunisian trade. Consequently, weak growth in the EU has weakened the Tunisian economy. Any other disturbances will also negatively affect economic growth. Although Libya receives only 5% of Tunisian exports, this represented [a significant amount] of Tunisian GDP during the 2008-2013 period. Exports increased by 23.6% annually from 2000-2013. Until recently, Tunisia’s exports to Libya helped offset t losses from the European market.

Tunisia and Libya have developed strong economic and commercial relationships. For example, an agreement was signed in 2013 to supply the Tunisian market with 650,000 barrels of crude oil and gas a month. Tunisia depends heavily on these imports and production disruptions in Libya have prevented it from meeting its commitments; Libya used to provide more than 25% of Tunisia’s fuel needs at preferential prices.

Page 1 of 3
123Next
Tags: Tunisia

Latest News

Enterprise Greece Delegation in Libya to Develop Bilateral Business Ties

Enterprise Greece Delegation in Libya to Develop Bilateral Business Ties

4th October 2021
Dbaiba Meets with Eni's CEO Descalzi to Discuss Areas of Cooperation in Libya

Dbaiba Meets with Eni's CEO Descalzi to Discuss Areas of Cooperation in Libya

22nd March 2021
Latest Oil Tenders

Latest Oil Tenders

16th March 2021

Recent News

Enterprise Greece Delegation in Libya to Develop Bilateral Business Ties

Enterprise Greece Delegation in Libya to Develop Bilateral Business Ties

4th October 2021
Dbaiba Meets with Eni's CEO Descalzi to Discuss Areas of Cooperation in Libya

Dbaiba Meets with Eni's CEO Descalzi to Discuss Areas of Cooperation in Libya

22nd March 2021

Categories

  • Security
  • Oil & Gas
  • Industry
  • Politics
  • Construction
  • Finance
  • Tenders
  • Transportation
  • Videos

Menu

  • Home
  • About Us
  • Contact

Join our mailing list!

Sign-up to receive email updates on the latest news and developments.





© 2021 Libya Business News - Your Libyan business news partner

No Result
View All Result
  • Security
  • Oil & Gas
  • Banking & Finance
  • Politics
  • Industry & Trade
  • Construction & Engineering
  • Investment
  • Tenders
  • Transportation
  • Videos
  • Contact Us

© 2021 Libya Business News - Your Libyan business news partner

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “I Agree”, you consent to the use of ALL the cookies.