Israel Trade April 2018

Israel: Trade deficit widens in April despite a jump in export growth

Exports jumped 12.4% over the previous year in April, a rapid acceleration from the prior month’s revised 2.9% year-on-year expansion (previously reported: +1.6% year-on-year). Trend data for February–April continued to point towards robust growth in the exports of high technology industries, with especially robust foreign demand for computers, electronic and optical products, and medical supplies.

Imports, however, also accelerated quickly in April and increased 26.0% from a year earlier, which was up from the prior month’s 17.9% yoy expansion. Data for February–April showed especially strong growth in imports of investment goods such as machinery and equipment, as well as of raw materials and consumer goods.

The trade deficit widened from USD 1.7 billion in March to USD 2.2 billion in April, which was significantly larger than the USD 1.4 billion trade deficit recorded in the same month a year earlier. In addition, the 12-month rolling trade deficit widened from a revised USD 18.1 billion in March (previously reported: USD 18.2 billion) to USD 19.0 billion in April.

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