Trade Balance in Israel
Israel - Trade Balance
Exports contract sharply in April, while imports stagnate
Merchandise exports contracted 18.0% year-on-year in April in USD terms, contrasting March’s 12.7% growth. Imports were down 0.1%, contrasting March’s 4.9% growth, while the trade deficit widened from USD 1.2 billion in March to USD 2.5 billion in April.
Looking at trend data for February-April, export growth slowed notably from the previous rolling quarter, likely weighed on by the stronger shekel. While exports of higher-tech exports were up year-on-year, lower-tech exports declined in annual terms. Turning to imports, Q1 trend data reveals sharp rises in consumer and investment goods, and fuel, likely supported by strong domestic demand and a surge in vehicle imports ahead of environmental tax changes.
Looking ahead, a global economic slowdown and trade tensions will likely weigh on exports, while import growth should moderate sharply on a tough base effect.
Met the why particular Consensus Forecast panelists expect exports and imports to grow 3.2% and 2.6% respectively in 2019. Our panel expects a trade deficit of USD 16.5 billion in 2019. For 2020, panelists see exports growing 5.7%, imports growing 5.7% and a trade deficit of USD 17.5 billion.
Israel - Trade Balance Data
|Trade Balance (USD billion)||-7.9||-7.2||-3.3||-7.4||-9.5|
5 years of economic forecasts for more than 30 economic indicators.
Israel Trade Balance Chart
Source: Central Bureau of Statistics.
|Bond Yield||1.74||-1.69 %||Jun 13|
|Exchange Rate||3.60||-0.37 %||Jun 14|
|Stock Market||1,444||-0.91 %||Jun 14|
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Israel: Fresh elections called after Netanyahu fails to form a coalition; economic fallout to be limited
May 30, 2019
On 29 May, MPs voted to dissolve Parliament, triggering fresh elections for 17 September, after incumbent Prime Minister Benjamin Netanyahu failed to form a coalition government.
May 29, 2019
The Bank of Israel’s Composite State of the Economy Index rose 0.28% in April over the previous month, up slightly from March’s revised 0.27% growth (previously reported: +0.29% month-on-month).
May 20, 2019
At its 20 May meeting, the Monetary Committee of the Bank of Israel (BoI) kept the interest rate unchanged at 0.25%, as had been widely expected by market analysts.
May 19, 2019
The Purchasing Managers’ Index (PMI), produced by Bank Hapoalim and the Israeli Purchasing & Logistics Managers Association (IPLMA), fell from 52.2 in March to 51.9 in April, but remained above the neutral 50-point mark separating contraction from expansion in the manufacturing sector. The change in the headline figure was driven by slower growth in production and employment, and a sharper contraction in export demand.
May 19, 2019
Merchandise exports contracted 18.0% year-on-year in April in USD terms, contrasting March’s 12.7% growth.