Tunisia's trade deficit worsened by 27% in the first half of 2026 compared to the same period in 2025, reaching -12.57 billion dinars by the end of June 2026, according to figures released by the National Institute of Statistics. This is an increase from -9.90 billion dinars a year prior and -8.02 billion dinars in the first half of 2024. The coverage rate also declined, falling to 73.4% in the first half of 2026 from 76.2% in 2025 and 79.9% in 2024. Exports increased by 9% to 34.65 billion dinars, while imports rose by 13.3% to 47.21 billion dinars. Export growth was driven by mechanical and electrical industries +9.1% and agri-food industries +25.2%, particularly olive oil sales. Energy sector exports also grew by 49.1% due to increased sales of refined products. However, exports decreased in the mining, phosphates, and derivatives sector -19% and the textile, clothing, and leather sector -3.5%. Imports increased across all categories, notably energy products +33.5% and food products +27.1%. Exports to the European Union accounted for 70.4% of total exports, increasing to France and Italy but decreasing to Germany and Greece. Exports to Arab countries significantly increased to Egypt and Saudi Arabia, while decreasing to Morocco, Algeria, and Libya. Imports from the European Union, representing 44.9% of total imports, increased from France and Italy but decreased from Bulgaria and Portugal. Outside the EU, imports rose from Turkey, India, and China, but fell from Russia and
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This summary was AI-generated from a story originally published by Business News.
American investor Fergie Chambers, known for his financial support of Club Africain in Tunisia, was arrested on July 10 in Ibiza, Spain. He is facing an extradition process to the United States, where he is accused of international money laundering and allegedly providing material support to foreign terrorist organizations. According to reports from The Grayzone and Middle East Eye, the case is linked to Chambers' public support for the Palestinian cause and his funding of humanitarian projects related to Gaza. Chambers, an heir to the Cox family fortune, sold his shares in the family business in 2023 and left the US, stating his intention to dedicate part of his wealth to international solidarity projects, particularly for the people of Gaza, and to fund pro-Palestine media and activist organizations. The Grayzone indicates that the indictment accuses Chambers of money laundering "with the intent to provide material support and resources to foreign terrorist organizations," but notes that the excerpts reviewed do not show evidence of funds being transferred to an organization designated as terrorist. Tunisia is mentioned in the judicial documents, with the indictment stating that Chambers made numerous transfers from US banks to Tunisian banks after moving there in late 2023. The published excerpts do not specify the amounts or beneficiaries of these transfers. Middle East Eye reports approximately $7.5 million was transferred out of the US after his departure, without detai
Tunisia's trade deficit widened to 12.57 billion dinars in the first half of 2026, a 26.9% increase from the previous year, despite a 9% rise in exports to 34.65 billion dinars. Imports grew faster at 13.3%, reaching 47.21 billion dinars, reducing the import coverage rate to 73.4%. The energy deficit is the primary driver of this imbalance, reaching 6.78 billion dinars, up from 5.21 billion dinars a year prior, and now accounts for 53.9% of the total trade deficit. This means more than half of the trade deficit is due to energy exchanges. Energy product imports surged by 33.5%, the highest increase among major imported categories. This situation is exacerbated by a 9% decline in primary energy resources by the end of April 2026, with crude oil production down 7% and natural gas down 13%, while primary energy demand increased by 4%. This growing gap between national supply and demand necessitates increased oil and gas imports, further inflating the energy bill and trade deficit. Tunisia's energy dependence rate reached 65% by the end of April 2026, or 71% excluding the Algerian gas transit fee, indicating that nearly two-thirds to over seven-tenths of the country's energy needs are met by hydrocarbon imports. Rising Brent crude prices in the first four months of 2026 also contributed to higher energy import costs, despite a dinar appreciation against the dollar. This trend contrasts with Tunisia's 2035 energy strategy, which aims to enhance supply security, reduce fossil fuel
Sheikh Hamad bin Khalifa Al Thani, the former Emir of Qatar, passed away on Sunday, July 12, 2026, at the age of 74. The announcement was made by the Emir's Diwan, marking the death of a significant figure in the contemporary history of the Gulf state. The Diwan, in a statement on social media, paid tribute to the man known in Qatar as "the Father Emir," invoking divine mercy and commending his service to the country. Sheikh Hamad bin Khalifa Al Thani came to power in 1995. Over nearly two decades, he oversaw a profound transformation of Qatar, driven by the exploitation of its substantial gas resources and an international investment strategy. Under his rule, Doha evolved from a small Gulf state into an influential regional and international player. Key developments included the launch of Al Jazeera in 1996, the expansion of Qatari diplomacy, and securing the hosting rights for the 2022 FIFA World Cup, all of which boosted the emirate's global visibility. In June 2013, Sheikh Hamad voluntarily transferred power to his son, Sheikh Tamim bin Hamad Al Thani, a rare abdication among hereditary monarchies in the Gulf, intended to ensure a smooth political transition.