Trade Balance in Israel
Israel - Trade Balance
Exports and imports plummet in March, trade deficit widens
Merchandise exports fell 34.6% in USD terms in March, coming after February’s 4.7% decline, while imports were down 14.1% (February: -3.2% year-on-year). The falls were driven by Covid-19 related disruptions to activity, and saw the trade deficit widen from USD 1.4 billion in February to USD 2.1 billion in March.
Over the next few months, both exports and imports will likely remain hampered by supply chain disruptions and weaker economic momentum at home and abroad.
Our panelists see exports flatlining and imports expanding 1.9% in 2020, with a trade deficit of USD 18.3 billion. In 2021, panelists see exports and imports growing 2.9% and 4.2% respectively, with a trade deficit of USD 19.8 billion. 2020 figures will likely be subject to downward revisions in upcoming publications are panelists factor in recent trade data.
Israel - Trade Balance Data
|Trade Balance (USD billion)||-3.4||-8.3||-11.4||-18.3||-16.9|
5 years of economic forecasts for more than 30 economic indicators.
Israel Trade Balance Chart
Source: Central Bureau of Statistics.
|Bond Yield||0.98||-1.69 %||Jan 01|
|Exchange Rate||3.46||-0.37 %||Dec 31|
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August 24, 2020
At its 24 August meeting, the Bank of Israel (BoI) left the policy rate at 0.10%, as expected. The decision was likely driven by a desire to assess the impact of past easing, which has consisted of a 15-basis-point policy cut and less conventional measures such as bond purchases, credit schemes and changes to macroprudential regulations.
August 23, 2020
The Bank of Israel’s Composite State of the Economy Index increased 0.15% month-on-month in seasonally-adjusted terms in July, which contrasted June’s 0.04% contraction.
August 19, 2020
The Purchasing Managers’ Index (PMI), produced by Bank Hapoalim and the Israeli Purchasing & Logistics Managers Association (IPLMA), increased from 45.0 in June to 49.8 in July, but remained slightly below the neutral 50-mark signaling worsening operating conditions.
August 16, 2020
GDP contracted at a quicker pace of 28.7% in seasonally-adjusted annualized terms (SAAR) in the second quarter, below the 6.8% contraction logged in the first quarter and marking the worst reading on record.
August 14, 2020
Consumer prices increased 0.20% in July over the previous month, following June's 0.10% fall.