Israel: Merchandise exports increase at a milder pace in May
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.