Israel Trade Balance May 2020

Israel

Israel: Contraction in exports and imports moderates in May

June 11, 2020

Merchandise exports fell 12.3% in USD terms in May, coming after April’s 18.7% decline, while imports were down 18.7% (April: -26.3% year-on-year). The softer declines were likely linked to the easing of lockdown measures at home and abroad. The trade deficit narrowed from USD 1.5 billion in April to USD 1.1 billion in May.

Both export and imports should gradually pick up as lockdowns around the world are lifted, but are still seen contracting sharply over 2020 as a whole.

Our panelists see exports and imports contracting 15.8% and 9.5% respectively in 2020, with a trade deficit of USD 19.0 billion. In 2021, panelists see exports and imports growing 10.8% and 7.6% respectively, with a trade deficit of USD 18.8 billion


Author:, Economist

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Israel Trade May 20 20

Note: 12-month sum of trade balance in USD billion and annual average variation of the 12-month sum of exports and imports.
Source: Central Bureau of Statistics (CBS) and FocusEconomics calculations.


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