Israel: Exports contract less in July
August 12, 2015
In July, exports totaled USD 4.5 billion (June: USD 3.9 billion), according to the Central Bureau of Statistics (CBS). The reading marked a 11.3% contraction over the same month last year, which was a slight improvement over the 12.2% decrease seen in the previous month.
Meanwhile, imports totaled USD 5.4 billion in July, which matched the previous month’s estimate. July’s reading marked a 18.4% decrease year-on-year, which doubled the 9.2% drop observed in June.
The trade balance recorded a USD 0.9 billion deficit in July, which was up from both the USD 1.6 billion deficit recorded in the same month last year and the USD 1.5 billion shortfall observed in the previous month.
Author: Dirina Mançellari, Senior Economist