Israel: Trade records surplus on plummeting imports
February 12, 2015
In January, exports totaled USD 4.9 billion (December: USD 4.5 billion), according to the Central Bureau of Statistics (CBS). The reading marked a 3.7% contraction over the same month of the previous year, which was an improvement over the 4.9% decline tallied in December.
Meanwhile, imports totaled USD 4.7 billion in January, which was well below the USD 6.3 billion registered in December. January’s reading marked a 24.4% decrease year-on-year, which contrasted the 1.7% rise tallied in December.
The trade balance recorded a USD 300 million surplus in January, which marked the highest surplus on record. The figure was an improvement over both the USD 1.0 billion deficit observed in the same month of the previous year and the USD 1.8 billion shortfall tallied in the previous month.
Author: Cecilia Simkievich, Economist