Energy trade balance deficit down 3%, end-October 2023 (Report)

The energy trade balance deficit narrowed by 3% from TND 8,202 million at the end of October 2022 to TND 7,923 during the same period in 2023, taking into account the export of Algerian gas royalties.

According to the monthly report on the energy situation for October 2023, published by the National Observatory of Energy and Mining, the deficit was down thanks to a 30% fall in the value of exports of energy products, coupled with a 13% drop in the value of imports.

Trade in the energy sector is highly sensitive to three factors: The quantities traded, the dollar/dinar exchange rate and the price of Brent crude.

In October 2023, Brent crude oil prices fell by $2/bbl compared with October 2022: $91/bbl in October 2023 compared with $93/bbl in October 2022 and $94/bbl in September 2023.

As regards the exchange rate, the Tunisian dinar depreciated by 1% against the US dollar, the main currency of exchange for energy products, at the end of October 2023, compared with the same period last year.

Source: Age
nce Tunis Afrique Presse