Israel: Exports contract more in August
September 10, 2015
In August, exports totaled USD 3.5 billion (July: USD 4.6 billion), according to the Central Bureau of Statistics (CBS). The reading marked a 9.7% contraction over the same month last year, which was a slight deterioration over the 8.1% decrease seen in the previous month.
Meanwhile, imports totaled USD 5.4 billion in August, which matched the previous month’s figure. August’s reading was a 10.9% decrease year-on-year, which marked an improvement over the 18.4% decline observed in July.
The trade balance recorded a USD 1.8 billion deficit in August, which was up from the USD 2.1 billion deficit recorded in the same month last year but still undershot the USD 0.8 billion shortfall observed in the previous month.
Author: Dirina Mançellari, Senior Economist