Israel: Exports contract more in November

According to the Central Bureau of Statistics (CBS), in November exports totaled USD 4.6 billion, which was an improvement over the USD 4.3 billion seen in October. The reading marked a 8.4% contraction over the same month last year (October: -5.4% year-on-year).

Meanwhile, imports totaled USD 5.0 billion in November, which was down from the USD 5.2 billion seen in October. November’s reading was a 7.7% decrease year-on-year, which was a deterioration over the 6.1% decline observed in October.

The trade balance recorded a USD 0.4 billion shortfall in November, which was an improvement from the USD 0.9 billion deficit seen in October.

Met the why particular Consensus Forecast panelists expect exports to contract 3.0% in 2016. For 2017, the panel expects exports to expand 4.5%.