Israel Trade Balance February 2021


Israel: Merchandise exports decrease at a quicker pace in February

March 11, 2021

Merchandise exports sank 17.5% in annual terms in February, following January’s 1.0% decrease. February’s reading marked the sharpest drop since April 2020. Meanwhile, merchandise imports shot up 8.9% over the same month last year in February (January: +6.2% yoy), marking the best result since December 2019.

As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 2.8 billion deficit in February (January 2021: USD 2.1 billion deficit; February 2020: USD 1.4 billion deficit). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 21.9 billion deficit in February, compared to the USD 20.6 billion deficit in January.

Our panelists see exports and imports increasing 2.1% and 4.4% respectively in 2021, with a trade deficit of USD 12.7 billion. In 2022, panelists see exports and imports growing 6.7% and 6.5% respectively, with a trade deficit of USD 13.4 billion.

Author:, Economist

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Israel Trade Balance Chart

Israel Trade February 2021

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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