Israel: Exports and imports rise in July
August 28, 2019
Merchandise exports rose 6.6% year-on-year in July in USD terms, contrasting June’s revised 4.0% contraction (previously reported: -8.3% year-on-year). Imports were up 2.6%, contrasting June’s 3.9% fall. The trade deficit was roughly unchanged in year-on-year terms at USD 2.9 billion.
Looking at trend data for May-July, exports rose thanks to higher exports of medium-high, medium-low and low-tech goods. In contrast, imports fell sharply due to lower imports of raw materials, investment goods and consumer goods.
Author: Oliver Reynolds, Economist