Israel: Merchandise exports growth softens in January
Merchandise exports increased 8.1% in annual terms in January (December: +18.8% year-on-year). Meanwhile, merchandise imports jumped 30.7% on an annual basis in January (December: +9.1% yoy). As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 3.7 billion shortfall in January (December 2021: USD 3.0 billion deficit; January 2021: USD 2.0 billion deficit). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 34.5 billion deficit in January, compared to the USD 32.8 billion shortfall in December.