Israel Trade November 2018

Israel: Trade deficit narrows despite steep drop in exports

In November, exports contracted 6.7% year-on-year in USD terms, swinging from an upwardly revised 9.9% expansion in October (previously reported: +8.3% year-on-year). The drop in exports came on a broad-based deterioration as attested to by the trend data for September–November. The trend data showed a decrease in exports of high technology; medium-low technology; and low technology goods. High technology exports dropped due to less foreign demand for electronic components and boards while medium-low technology exports suffered from reduced overseas demand for basic metals. On the other hand, medium-high technology goods exports increased, in part thanks to the motor vehicles industry.

Growth in imports, meanwhile, decelerated from a 21.3% increase in October to a 13.6% expansion in November in USD terms. Trend data showed that import growth in September–November was supported by an increase in demand for raw materials, investment goods, and consumer goods.

As a result, the trade deficit narrowed from USD 2.9 billion in October in to USD 1.9 billion in November. This is, however, up from the USD 759 million shortfall in November 2017. The 12-month rolling trade deficit widened from USD 23.9 billion in October to USD 25.0 billion in November.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest