Israeli exports jumped 11.5% in June-August

exports

Israel's exports have bounced back after a decline of 6.8% in annualized terms in March-May 2016.

Israel's exports continue powering ahead: in June-August 2016, the export of goods (excluding ships, planes and diamonds) rose an annualized 11.5%, compared with a decline of an annualized 6.8% in March-May 2016.

The Central Bureau of Statistics reports that in August, the import of goods totaled NIS 21.8 billion, goods exports were NIS 14.6 billion and the trade deficit was NIS 7.2 billion.

The rise in exports has been partially explained by one-time events, such as the reactivation of production lines in at the Intel plant in Kiryat Gat. Production lines had been shut down earlier this year, causing exports to decline.

In June-August 2016, high-tech exports (about 47% of all industrial exports, excluding diamonds), rose an annualized 12.3%. In comparison, in March-May 2016, they dropped an annualized 14.1%. Export data indicates an annualized 94.6% rise in drug exports (average rise of 5.7% per month).

In contrast, the export of electronic components and boards dropped an annualized 11.8%. As for imports, a 34.2% drop in car imports was noted, affecting overall data for consumer durables which dropped an annualized 13.8% in August.

Published by Globes [online], Israel business news - www.globes-online.com - on September 14, 2016

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

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