Israel Trade Balance June 2020

Israel

Israel: Merchandise exports and imports continue to nosedive in June

July 13, 2020

Merchandise exports plummeted 9.5% over the same month last year in June, on the heels of May’s 6.3% dive. Meanwhile, merchandise imports plunged 9.3% in annual terms in June (May: -19.1% yoy). As a result, the merchandise trade balance recorded a USD 1.8 billion deficit in June (May: USD -0.9 billion). Lastly, the 12-month trailing merchandise trade balance recorded a USD 22.3 billion deficit in June, compared to a USD 22.5 billion deficit 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 14.7% and 13.4% respectively in 2020, with a trade deficit of USD 15.2 billion. In 2021, panelists see exports and imports growing 10.5% and 9.6% respectively, with a trade deficit of USD 16.2 billion.


Author:, Economist

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Israel Trade June 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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