Israel's trade deficit fell to $5.1 billion in 2009, the lowest level since 1990, and less than half of the trade deficit of $13.2 billion in 2008, the Central Bureau of Statistics reported today. Excluding fuel, diamonds, ships, and aircraft, Israel actually had a trade surplus of $2.3 billion.
Exports amounted to 86% of imports in 2009, up from 75% in 2008.
Exports of goods totaled $41.8 billion in 2009, 18.5% less than in 2008. Industrial exports accounted for 83% of total exports. High-tech exports, 51.4% of total industrial exports, totaled $20.5 billion in 2009, $725 million more than in 2008. Exports of electronic components rose by 165%, but pharmaceutical exports fell by 6.7%. This was the first drop in pharmaceutical exports since 1998.
Medium high-tech exports, 28% of all industrial exports, fell 26.8% to $9.6 billion in 2009; medium low-technology exports fell 34.2% to $5.3 billion; and low technology exports fell 14% to $2 billion. Agricultural exports totaled $1.2 billion, boosted by exports of citrus and other fruits, although exports of flowers fell by nearly a third.
Polished and rough diamond exports fell to $5.8 billion in 2009 from $9.6 billion in 2008.
Import of goods total $46.9 billion in 2009, 27.3% less than the $64.5 billion in 2008. Imports of investment goods (excluding ships and planes) fell 25.5% to $7.6 billion. Imports of raw materials (excluding diamonds and fuel) fell 24.3% to $18.4 billion, and imports of consumer goods fell 7.8%.
Published by Globes [online], Israel business news - www.globes-online.com - on January 12, 2010
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