Israel: Merchandise exports rebound in March
April 19, 2021
Merchandise exports shot up 7.6% over the same month last year in March, on the heels of February’s 11.1% plunge. Meanwhile, merchandise imports climbed 21.7% in annual terms in March (February: +8.9% yoy) as restrictions were lifted and domestic demand rebounded, marking the best result since April 2018.
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 2.9 billion deficit in March (February 2021: USD 2.5 billion deficit; March 2020: USD 1.9 billion deficit). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 22.7 billion deficit in March, compared to the USD 21.7 billion deficit in February.
Author: Oliver Reynolds, Economist