In addition, the euro has replaced its respective European currencies on the Tunisian exchange market. The BVM closed on December 31 at 464.56, less than two percent higher than where it began the year. The all-time high of 641.8 was achieved in September 1995. The average growth of companies listed on the BVM is forecast to be 9.0 percent in 1999, led by companies from the agriculture and leasing sectors, which are both experiencing enormous growth. Profits in agri-business companies alone are expected to rise by 22 percent in 1999.
Primary sectors involved in the modernization include textiles, food, chemicals, and leather goods.
Phosphate production continues to steadily rise as Tunisia exported over 1.5 million tons in 1998. Internet use is also on the rise with an estimated 10,000 users surfing the web at the end of 1998. Tourism Tunisia is one of Africa s primary holiday attractions. Revenues from tourism cover 60 percent of the country s trade deficit, and the sector indirectly provides jobs for 300,000 of Tunisia s citizens. Along with Turkey, it is the most popular destination in the Mediterranean rim for European travelers.