Israel: Merchandise exports rebound in December
January 13, 2021
Merchandise exports soared 14.1% annually in December (November: -3.0% year-on-year). Meanwhile, merchandise imports rose 6.8% in annual terms in December (November: +5.1% yoy), marking the best result since December 2019.
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 3.0 billion shortfall in December (November 2020: USD 1.3 billion deficit; December 2019: USD 3.1 billion deficit). Lastly, the trend improved, with the 12-month trailing merchandise trade balance recording a USD 20.2 billion deficit in December, compared to the USD 20.3 billion deficit in November.
Author: Oliver Reynolds, Economist