Israel's trade deficit widens sixfold

Ashdod Port

The deficit since the beginning of the year totals NIS 28.9 billion, up from NIS 4.5 billion in the corresponding period last year.

The Central Bureau of Statistics today published alarming figures for Israel's trade, with a 15.5% drop in high-tech exports and a 4.1% slide in imports of consumer goods in September-November this year, compared with the corresponding period last year. Israel's trade deficit in November was NIS 2.7 billion.

The deficit in trade of goods (excluding ships, airplanes, diamonds, and energy materials) since the beginning of the year totals NIS 28.9 billion, compared with a NIS 4.5 billion deficit in the corresponding period last year.

According to the Central Bureau of Statistics, trade in goods in November was affected by changes in the exchange rate of the shekel against the currencies in which import and export deals are conducted. The shekel fell 0.6% against the dollar and 1.4% against the pound sterling last month. On the other hand, the shekel rose 1.4% against the euro, 3.4% against the Japanese yen, and 0.6% against the Swiss franc.

Published by Globes [online], Israel business news - www.globes-online.com - on December 13, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018