Israel Trade October 2016


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.

FocusEconomics Consensus Forecast panelists expect exports to contract 0.9% in 2016. For 2017, the panel expects exports to rebound and expand 4.5%.

Author: Marlène Rump, Senior Data Analyst

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Israel Trade Chart

Israel Trade October 2016

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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