Israel: Merchandise exports rise at a faster pace in April
May 13, 2021
Merchandise exports soared 40.5% annually in April (March: +12.6% year-on-year). April’s reading marked the strongest outturn since April 2010, and was likely supported by the lifting of restrictions abroad and global stimulus measures. Meanwhile, merchandise imports soared 52.2% over the same month last year in April (March: +21.6% yoy) as domestic demand recovered.
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 2.8 billion shortfall in April (March 2021: USD 2.7 billion deficit; April 2020: USD 1.6 billion deficit). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 23.6 billion deficit in April, compared to the USD 22.4 billion deficit in March.
Author: Oliver Reynolds, Economist