Israel Trade Balance December 2020


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.

Our panelists see exports and imports increasing 7.5% and 7.1% respectively in 2021, with a trade deficit of USD 13.8 billion. In 2022, panelists see exports and imports growing 6.4% and 7.0% respectively, with a trade deficit of USD 15.1 billion.

Author:, Economist

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Israel Trade Balance Chart

Israel Trade December 20 20

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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