Economic growth rate up by 1.4% in Q2 (INS)

(TAP) - The economic growth rate edged up by 1.4% in Q2 of 2016, compared to the same period in 2015, and 1.2% in the first half of the year, National Statistics Institute (French: INS) Director-General Hedi Saidi said.

He Wednesday indicated at a press conference that the growth rate rose 0.2% in Q2 of 2016 in comparison with Q1 while forecasts suggest that the growth rate for the whole year would be 1.8%.

This improvement is due to the increase in the added value of manufacturing industries following the pick-up in the activity of chemical industy (28.9%) and mechanical and electronic industries (2.7%) and in spite of the downturn in the agri-food industry (- 0.6%) and the building materials, ceramics and glass industry (- 0.4%), Saidi added.

The Director-General likewise reported a 0.5 % decline in the added value of non-manufacturing industries compared to the same period last year as a result of a 8.9% drop in fuel and oil production and despite a 44.8% (TAP) - The economic growth rate edged up by 1.4% in Q2 of 2016, compared to the same period in 2015, and 1.2% in the first half of the year, National Statistics Institute (French: INS) Director-General Hedi Saidi said.

He Wednesday indicated at a press conference that the growth rate rose 0.2% in Q2 of 2016 in comparison with Q1 while forecasts suggest that the growth rate for the whole year would be 1.8%.

This improvement is due to the increase in the added value of manufacturing industries following the pick-up in the activity of chemical industy (28.9%) and mechanical and electronic industries (2.7%) and in spite of the downturn in the agri-food industry (- 0.6%) and the building materials, ceramics and glass industry (- 0.4%), Saidi added.

The Director-General likewise reported a 0.5 % decline in the added value of non-manufacturing industries, compared to the same period last year, as a result of a 8.9% drop in fuel and oil production and despite a 44.8% rise in mining industries.

The better outlook is also the result of market services edging up 1.2% given the increase in telecommunications services (5.6%) and financial services (3.5%) and despite lower transportation services (-1%) and hotel and restaurant services (-5.3%).

Non-market services (administration) also rose by 3.7% in Q2. Tunisia achieved economic growth though the sectors of agriculture and fisheries posted a 3.6% fall in Q2 of the year and in comparison with the same period in 2015, Saidi said.