Israel: Exports collapse in October
November 13, 2016
According to the Central Bureau of Statistics (CBS), exports totaled USD 3.4 billion in October, which was down from September’s USD 4.7 billion and the lowest result in more than seven years. Exports plunged 24.7% from the same month of the previous year, which was a severe nosedive from the 22.8% expansion observed in September and the sharpest contraction since July 2009.
Meanwhile, imports totaled USD 4.7 billion in October, below the USD 5.6 billion seen in September. Imports fell 9.9% from the same month of the previous year, which was also a drastic downswing from the 37.5% surge recorded in September.
The trade balance recorded a USD 1.4 billion shortfall in October, deteriorating from the USD 0.9 billion deficit seen in September.