Israel Trade Balance May 2022


Israel: Merchandise exports increase at a milder pace in May

June 13, 2022

Merchandise exports rose 5.0% year-on-year in May (April: +29.0% year-on-year). May’s figure marked the weakest growth since September 2021. Meanwhile, merchandise imports jumped 42.2% over the same month last year in May (April: +21.6% yoy), marking the strongest reading since October 2021.

As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 5.5 billion deficit in May (April 2022: USD 3.0 billion deficit; May 2021: USD 2.6 billion deficit). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 40.3 billion deficit in May, compared to the USD 37.5 billion deficit in April.

Our panelists see exports and imports increasing 7.8% and 12.8% respectively in 2022, with a trade deficit of USD 25.4 billion. In 2023, panelists see exports and imports growing 4.1% and 3.6% respectively, with a trade deficit of USD 26.0 billion.


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Israel Trade Balance Chart

Israel Trade May 2022

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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