Israel Trade Balance November 2021


Israel: Merchandise exports increase at a milder, but still rapid, pace in November

December 13, 2021

Merchandise exports soared 10.8% on an annual basis in November (October: +37.1% year-on-year). Meanwhile, merchandise imports jumped 38.2% on an annual basis in November (October: +45.4% yoy).

As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 3.3 billion shortfall in November (October 2021: USD 2.8 billion deficit; November 2020: USD 1.5 billion deficit). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 33.6 billion deficit in November, compared to the USD 31.8 billion deficit in October.

Our panelists see exports and imports increasing 6.3% and 4.6% respectively in 2022, with a trade deficit of USD 16.6 billion. In 2023, panelists see exports and imports growing 5.6% and 6.0% respectively, with a trade deficit of USD 17.9 billion.

Author:, Economist

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Israel Trade Balance Chart

Israel Trade November 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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