Israel Trade March 2018


Israel: Export growth picks up in March, imports rebound

April 16, 2019

Exports expanded 5.2% in March in USD terms, up from February’s 2.4% growth, while imports were up 4.9%, contrasting a 7.4% contraction in February. As a result, the trade deficit widened year-on-year to USD 1.6 billion from USD 1.5 billion in March 2018.

Looking at trend data for Q1 as a whole, export growth was robust, supported by strong high-tech exports, while lower technology exports declined sharply. Turning to imports, Q1 trend data reveals sharp rises in consumer and investment goods, and fuel, likely supported by strong domestic demand.

Looking ahead, export growth should be healthy this year, supported by high-tech service exports such as computing and software, where Israel has a strong competitive advantage. Import growth will likely moderate sharply on a tough base effect.

FocusEconomics Consensus Forecast panelists expect exports and imports to grow 5.2% and 1.8% in 2019, respectively. Our panel expects a trade deficit of USD 14.8 billion in 2019. For 2020, panelists see exports growing 5.8%, imports growing 4.7% and a trade deficit of 14.7 USD billion.

Author:, Economist

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Israel Trade Chart

Israel Trade March 2019

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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