Israel Trade Balance August 2022

Israel

Israel: Merchandise exports increase at a faster pace in August

September 11, 2022

Merchandise exports rose 14.0% over the same month last year in August, following July’s 12.9% jump. Meanwhile, merchandise imports rose 7.9% on an annual basis in August (July: +18.0% yoy), marking the weakest reading since January 2021.

As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 4.0 billion shortfall in August (July 2022: USD 3.8 billion deficit; August 2021: USD 4.0 billion deficit). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 40.7 billion deficit in August, compared to the USD 40.6 billion deficit in July.

Our panelists see exports and imports increasing 6.5% and 11.1% respectively in 2022, with a trade deficit of USD 27.4 billion. In 2023, panelists see exports and imports growing 4.4% and 1.4% respectively, with a trade deficit of USD 25.6 billion.


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