Israel: Exports contract more in May
June 11, 2015
In May, exports totaled USD 4.9 billion (April: USD 4.0 billion), according to the Central Bureau of Statistics (CBS). The reading marked a 11.0% contraction over the same month last year, which was a deterioration over the 1.6% decrease seen in the previous month.
Meanwhile, imports totaled USD 5.2 billion in May, which was above the USD 4.7 billion registered in April. May’s reading marked a 13.0% decrease year-on-year, which was an improvement over the 19.7% decrease observed in the previous month.
The trade balance recorded a USD 373 million deficit in May, which was up from the USD 559 million deficit recorded in the same month last year. In addition, the figure was up from the USD 639 million shortfall observed in the previous month.
Author: Dirina Mançellari, Senior Economist