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.
Author: Oliver Reynolds, Economist