Israel Trade Balance March 2021


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.

Our panelists see exports and imports increasing 5.1% and 8.7% respectively in 2021, with a trade deficit of USD 13.8 billion. In 2022, panelists see exports and imports growing 6.2% and 6.3% respectively, with a trade deficit of USD 14.8 billion.

Author:, Economist

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Israel Trade Balance Chart

Israel Trade March 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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