Israel: Exports and imports plummet in April
Merchandise exports fell 25.6% in USD terms in April, coming after March’s 31.1% decline, while imports were down 26.3% (March: -14.0% year-on-year). The falls were driven by Covid-19 related disruptions to activity. The trade deficit narrowed from USD 2.0 billion in March to USD 1.8 billion in April.
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.