Israel Trade December 2019

Israel

Israel: Exports fall further in December, rounding off a tepid 2019, while imports rebound

January 13, 2020

Merchandise exports fell 2.5% in December in USD terms, following November’s revised 0.4% expansion (previously reported: -1.0% year-on-year). As a result, exports declined 4.2% over 2019 as a whole, dragged on by slower global economic momentum, trade tensions and the strong shekel.

In contrast, imports rebounded in December and rose 15.1%, contrasting November’s revised 5.5% decline (previously reported: -6.5% yoy). Imports were thus flat over 2019 as a whole, with higher imports of consumer goods and raw materials offsetting lower imports of investment goods. The trade deficit widened in annual terms from USD 2.0 billion to USD 3.0 billion.

Our panelists see exports and imports expanding 3.8% and 1.3% respectively in 2020, with a trade deficit of USD 15.6 billion. In 2021, panelists see exports and imports growing 5.6% and 4.1% respectively, with a trade deficit of USD 15.2 billion.


Author:, Economist

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Israel Trade December 2019

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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