Leather exports up but oil prices hurt Tunisia
14/04/2008
Leather, textile and apparel exports from Tunisia, a key earner for the North African country, have risen to almost $1.5 billion for the first quarter of 2008, from $1.3 billion for the same period last year.
The country's other main source of export revenue, agriculture (principally olive oil), also showed growth, $612 million compared to $505 million for the first quarter last year.
However, the country's need of oil imports has led its trade deficit to widen by 31%. While exports totalled $5 billion for the quarter, Tunisia had to spend $5.9 billion on imports, mainly because of rising oil prices.
Reuters quoted government officials as saying high oil prices were slowing the country's economic growth.
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