Israel Trade Balance June 2022


Israel: Merchandise exports increase in June

July 13, 2022

Merchandise exports soared 22.0% on an annual basis in June (May: +12.5% year-on-year). Meanwhile, merchandise imports climbed 17.2% over the same month last year in June (May: +42.4% yoy), marking the weakest reading since December 2021.

As a result, the merchandise trade balance improved from the previous month, recording a USD 3.4 billion shortfall in June (May 2022: USD 5.1 billion deficit; June 2021: USD 3.1 billion deficit). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 40.2 billion deficit in June, compared to the USD 39.9 billion deficit in May.

Our panelists see exports and imports increasing 6.7% and 9.1% respectively in 2022, with a trade deficit of USD 25.4 billion. In 2023, panelists see exports and imports growing 4.6% and 2.7% respectively, with a trade deficit of USD 24.7 billion.


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Israel Trade Balance Chart

Israel Trade June 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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