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Trade deficit in goods totaled NIS 18.5 billion in January-May

Export of goods (excluding ships, aircraft and diamonds) decrease by 7.6% at an annual rate, continuing a decrease of 6.7%
17.06.13 / 00:00
Trade deficit in goods totaled NIS 18.5 billion in January-May
17.06.13
Trade deficit in goods totaled NIS 18.5 billion in January-May

Israel Central Bureau of Statistics (CBS) reported that export of goods as percent of imports (excluding ships, aircraft and diamonds) constituted 76.2% compared to 66.9% at the same period in 2012.

The trade deficit in goods totaled NIS 18.5 billion (NIS 44.3 billion at annual rate, NIS 70.4 billion in 2012.

Export of goods (excluding ships, aircraft and diamonds) decrease by 7.6% at an annual rate, continuing a decrease of 6.7% in December 2012-February 2013.

Import of goods, in May in New Israel Shekels (NIS), totaled – as mentioned – NIS 21.5B.

A breakdown of the data of import by economic uses indicates that in May 2013, 38% of total imports were import of raw materials (excluding diamonds and fuels); 15% were consumer goods; 13% were machinery, equipment and land vehicles for investment; and 34% diamonds, fuels, ships and aircraft.

Trend data of imported raw materials (excluding diamonds and fuels) fall 9.5%, in March-May 2013, at an annual rate continuing a drop of 15.2% in December 2012-February 2013. A breakdown by groups of import of raw materials shows that import of inputs for machine and electronics industry fall by 13.4% in an annual rate, imports of rubber and plastic inputs fall 10.6% in an annual rate and import of chemicals point to a drop of 6.2% in an annual rate.

Trend data of import of consumer goods drop by 1.8% at an annual rate in March-May 2013, continuing a decrease of 3.7% in December 2012-February 2013. Imports of non-durable goods fall by an annual rate of 7.6% during the last three months. Most of the decrease was recorded in import of clothing and footwear category (16.8% at an annual rate).

Import of durable goods rose, in the same period, 6.2% at an annual rate. Most of the rise was recorded in import of transport equipment (36.6% at an annual rate).

Trend data of import of investment goods (excluding ships and aircraft) rose 19.7%, by an annual rate, in March-May 2013 after a decrease of 17.0% in December 2012-February 2013. A breakdown by groups points that import of machinery and equipment (60% of investment imports) fall 15.0%, at an annual rate, in the last three months. Imports of vehicles for investment point to a rise of 62.2%, at an annual rate, during the same period (4.1% month average).

Import of diamonds (rough and polished) in January-May 2013 totaled NIS 12.5B.

During the same months in 2012 the import of diamonds totaled NIS 13.0B.

Import of fuels (crude oil, distillates and coal) in January-May 2013 totaled NIS 23.9B a decrease of 14.3% compared to the same months of the previous year.

Export of goods in New Israel Shekels (NIS) totaled in May 2013 – NIS 16.9B.

In May 2013, manufacturing exports (excluding diamonds) constituted 78% of all export of goods. Export of diamonds constituted 20%, and the remaining 2% was agricultural exports.

Trend data of manufacturing, mining and quarrying exports fall by 7.0%, at an annual rate, in March-May 2013, continuing a decrease of 6.1% in December 2012-February 2013.

Trend data of exports by high technology industries (44% of total manufacture exports) decreased 13.0%, at an annual rate, in March-May 2013, continuing a decrease of 10.1% in December 2012-February 2013.

Trend data of exports by medium-high technology industries (35% of total manufacture exports) fall by 10.7%, at an annual rate, in March-May 2013, continuing a decrease of 0.8% in December 2012-February 2013. Breakdown by economic activity shows that exports of chemical products fall by 13.5%.

Trend data of exports by medium-low technology industries (14% of total manufacture exports) point to a rise of 5.6%, at an annual rate, in the last three months after a decrease of 1.0% in December 2012-February 2013.

Trend data of exports by low technology industries (7% of total manufacture exports) increase by 2.2% at an annual rate, in March-May 2013 after it remain stable in December 2012-February 2013. Breakdown by economic activity shows that exports of wood, cork, paper and paper products rose by 14.8% at an annual rate. Textiles, wearing apparel and leather fall 3.5% in the same period.

Agricultural, forestry and fishing exports in January-May 2013 totaled NIS3.0B, an increase of 2.3% compared to the same period in 2012. Export of growing of non-perennial crops rose by 2.1% and exports of other fruits increased by 18.1%, during the same period.

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