Israel Trade July 2019

Israel

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.

FocusEconomics Consensus Forecast panelists expect exports and imports to grow 3.0% and 2.5% respectively in 2019, with a trade deficit of USD 18.0 billion. For 2020, panelists see exports growing 4.5%, imports growing 4.1% and a trade deficit of USD 18.5 billion.


Author:, Economist

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Israel Trade July 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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