Israel: Exports suffer deep contraction in May
June 13, 2016
According to the Central Bureau of Statistics (CBS), exports totaled USD 4.3 billion in May, which was up from April’s USD 3.8 billion. The reading marked a 15.1% decrease over the same month of the previous year (April: -4.7% year-on-year), which represented an eight-month low.
Meanwhile, imports totaled USD 6.2 billion in May, which was up from the USD 4.6 billion seen in April. May’s reading marked an 18.8% year-on-year increase, which followed the 2.4% decrease observed in the previous month and was the fastest acceleration since November 2013.
The trade balance recorded a USD 1.9 billion shortfall in May, which exceeded the USD 0.7 billion deficit seen in April.
Author: Christopher Mc Innes, Economist