Also reported, by contrast, was an improvement in trading terms with the US, resulting from an increase in the volume of export to that country and the strengthening of the dollar.
Since the beginning of the year, Israel's foreign trade balance with European Union (EU) countries has taken a turn of the worse, with the rate of exports of goods definitely slowing down, while imports grew. The weakening of the euro also increased Israel's trade deficit with the EU.
The Central Bureau of Statistics reported today that in January-April, there was an annualised increase of 18% in exports of goods to EU countries, compared with an increase of 26% in September-December. Imports of goods grew by 14% in January-April, compared with an annualized 10% in September-December. Trade with the EU accounts for 36% of total export and 43% of total import.
Also reported, by contrast, was an improvement in trading terms with the US, resulting from an increase in the volume of export to that country and the strengthening of the dollar. Export to the US rose by an annualised rate of 27% in January-April. The slowdown in the import of goods from the US continued, recording only a 5% annualised rise since the beginning of the year. This was further to the stability recorded in the last four months of 1999. Trade with the US accounts for 28% of total export and 24% of total import.
Published by Israel's Business Arena on 18 May 2000