Economy of Tunisia
The Tunisian government adopted a unified investment code in 1993 to attract foreign capital. More than 1,600 export-oriented joint venture firms operate in Tunisia to take advantage of relatively low labor costs and preferential access to nearby European markets. Economic links are closest with European countries, which dominate Tunisia's trade. Tunisia's currency, the dinar, is not traded outside Tunisia. However, partial convertibility exists for bona fide commercial and investment transaction. Certain restrictions still limit operations carried out by Tunisian residents.
History of modern Tunisia
As president, Ben Ali championed economic reforms that strengthened Tunisia's economy and increased foreign investment. After he ascended to the office of President, Tunisia's per capita GDP more than tripled from $1,201 in 1986 to $3,786 in 2008. Although, growth in 2002 slowed to a 15-year low of 1.9% due to drought and lackluster tourism, better conditions after 2003 helped push growth to about 5% of GDP. For about 20 years after 1987, the GDP annual growth averaged nearly 5%. A report published in July 2010 by the Boston Consulting Group ("The African Challengers: Global Competitors Emerge from the Overlooked Continent") listed Tunisia as one of the African "Lions" and indicated that the eight African lions account for 70 percent of the continent's gross domestic product.