Israel: Merchandise exports increase in June
Merchandise exports soared 22.0% on an annual basis in June (May: +12.5% year-on-year). Meanwhile, merchandise imports climbed 17.2% over the same month last year in June (May: +42.4% yoy), marking the weakest reading since December 2021.
As a result, the merchandise trade balance improved from the previous month, recording a USD 3.4 billion shortfall in June (May 2022: USD 5.1 billion deficit; June 2021: USD 3.1 billion deficit). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 40.2 billion deficit in June, compared to the USD 39.9 billion deficit in May.