Israel Trade Balance June 2021

Israel

Israel: Merchandise exports jump at a slower rate in June

July 13, 2021

Merchandise exports jumped 16.1% year-on-year in June, following May’s 22.7% upturn. Meanwhile, merchandise imports jumped 39.2% on an annual basis in June (May: +51.5% yoy). Both figures were flattered somewhat by favorable base effects, given that exports and imports were fairly downbeat in June last year. However, exports and imports were also up markedly from their June 2019 levels, showing that underlying external and domestic demand improved.

As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 3.1 billion deficit in June (May 2021: USD 2.5 billion deficit; June 2020: USD 1.6 billion deficit). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 27.6 billion deficit in June, compared to the USD 26.0 billion deficit in May.

Our panelists see exports and imports increasing 6.4% and 11.5% respectively in 2021, with a trade deficit of USD 15.2 billion. In 2022, panelists see exports and imports growing 5.6% and 3.9% respectively, with a trade deficit of USD 14.8 billion.


Author:, Economist

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Israel Trade Balance Chart


Israel Trade June 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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