Israel Trade October 2019


Israel: Exports and imports plummet in October

November 13, 2019

Merchandise exports fell 21.8% year-on-year in October in USD terms, contrasting September’s 11.5% growth. Exports have endured a choppy 2019, falling for six of the first ten months of the year amid a more challenging external environment. Imports fell 12.9% in October, contrasting September’s 16.1% increase, and the trade deficit widened slightly in annual terms from USD 2.4 billion to USD 2.5 billion.

Looking at trend data for August-October, exports contracted slightly due to lower exports of medium-high, medium-low and low-tech goods, while higher exports of volatile pharmaceuticals boosted the high-tech sector. Imports of goods rose in August-October on higher imports of raw materials and consumption goods.

In 2020, FocusEconomics Consensus Forecast panelists see exports growing 4.6%, imports growing 4.0% and a trade deficit of USD 18.7 billion. For 2021, panelists see exports and imports expanding 7.8% and 5.5% respectively, with a trade deficit of USD 18.3 billion.

Author:, Economist

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Israel Trade Chart

Israel Trade October 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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