Energy trade balance deficit decreases 6% by end November 2023

The energy trade balance deficit fell by 6% at the end of November 2023 (taking into account the royalty on exported Algerian gas) to stand at 8,363 million dinars (MD), according to the monthly report on the energy situation of November 2023, published Monday by the National Energy and Mines Observatory. Exports of energy products recorded a decline in value of 27% accompanied by a drop in imports in value of 13%. The Observatory underlined that trade in the energy sector is very sensitive to three factors, namely: the quantities exchanged, the dollar/dinar exchange rate ($/DT) and the price of Brent, a reference quality on which the prices of imported and exported crude oil as well as petroleum products are indexed. In November 2023, Brent prices recorded a drop of $8/bbl compared to November 2022 and $83.2/bbl in November 2023. Note that bbl is a measure of American capacity worth approximately 158.98 liters. During the same period, the Tunisian Dinar recorded a slight depreciation against the US Doll ar, the main currency of exchange for energy products, of 0.2% between the end of November 2022 and the end of November 2023. Source: Agence Tunis Afrique Presse