Israel's trade deficit ballooned 142% in 2011-2012 to NIS 70.2 billion at the end of last year, the Central Bureau of Statistics reports.
Israel's trade deficit ballooned 142% in 2011-2012 to NIS 70.2 billion at the end of last year, the Central Bureau of Statistics reported today. The trade deficit totaled NIS 18.3 billion in 2012, 25% more than the deficit of NIS 14.6 billion in 2011. In shekel terms, the budget deficit rose by 34%.
Israel's trade deficit totaled NIS 52.2 billion at the end of 2011 and NIS 29 billion at the end of 2010.
The ballooning trade deficit was due to the stagnation in exports in 2012, a more than 7% increase in the imports of goods compared with 2011, and a 27% increase in fuel imports.
Published by Globes [online], Israel business news - www.globes-online.com - on January 13, 2013
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