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February 2014 – Israel's trade deficit in goods totaled NIS 1.4 billion

According to a CBS report, import of goods totaled NIS 20.4 billion and export of goods totaled NIS 19.0 billion
16.03.14 / 10:38
February 2014 – Israel's trade deficit in goods totaled NIS 1.4 billion
16.03.14
February 2014 – Israel's trade deficit in goods totaled NIS 1.4 billion

The Central Bureau of Statistics (CBS) reported that in February 2014, import of goods totaled NIS 20.4 billion, export of goods totaled NIS 19.0 billion and the trade deficit in goods totaled NIS 1.4 billion

 

January- February 2014 - Export of goods as percent of imports (excluding ships, aircraft and diamonds) constituted 72.7% compared to 72.6% at the same period in 2013.

 

The trend data calculated by the CBS, seasonally adjusted and adjusted for irregular elements, in import of goods (excluding ship, aircraft, diamonds and fuels) increased by 4.1% at an annual rate, in December 2013- February 2014 continuing an increase of 7.2% in September- November 2013.

 

Export of goods (excluding ships, aircraft and diamonds) point to a rise of 7.2% at an annual rate, continuing an increase of 8.7% in September- November 2013.

 

Import of Goods - Import of goods, in February 2014, totaled – as mentioned – NIS 20.4B. A breakdown of the data of imports by economic use indicates that in February 2014, 37% of total imports were import of raw materials (excluding diamonds and fuels); 18% were consumer goods; 13% were machinery, equipment and land vehicles for investment; and 32% diamonds, fuels, ships and aircraft.

 

Trend data of imported raw materials (excluding diamonds and fuels) point to a rise of 5.8%, in December 2013- February 2014, at an annual rate continuing an increase of 1.5% in September- November 2013. A breakdown by groups of import of raw materials shows that import of inputs for wood industry and its products increased by 20.8% at an annual rate.

 

Trend data of import of consumer goods rose by 6.0% at an annual rate in December 2013- February 2014, continuing an increase of 5.0% in September- November 2013. Imports of non-durable goods increased by 6.6% an annual rate of in the last three months. Most of the increase was recorded in import of food and beverages category (7.0% at an annual rate). Import of durable goods point to a rise of 1.9%, at an annual rate, in December 2013-February 2014.

 

Slowdown was recorded in trend data of import of investment goods (excluding ships and aircraft) that rose 5.7%, by an annual rate, in December 2013- February 2014 continuing an increase of 24.2% (1.8% monthly average) in September-November 2013. A breakdown by groups points that import of machinery and equipment (65% of investment imports) point to a drop 3.2%, at an annual rate, in the last three months. Imports of vehicles for investment point to an increase of 8.9% at an annual rate, in the same period.

 

Import of diamonds (net, rough and polished) in January- February 2014 totaled NIS 4.4B. During the same months in 2013 the import of diamonds totaled NIS 4.5B.

 

Import of fuels (crude oil, distillates and coal) in January- February 2014 totaled NIS 8.9B a decrease of 8.8% compared to the same months of the previous year.

 

Export of Goods- Export of goods in New Israel Shekels (NIS) totaled in February 2014 – as mentioned – NIS 19.0B.

 

In February 2014, manufacturing, mining and quarrying exports (excluding working diamonds) constituted 68% of all export of goods. Export of diamonds constituted 29%, and the remaining 3% were agriculture, forestry and fishing exports.

 

Trend data of manufacturing, mining and quarrying exports rose by 8.6%, at an annual rate, in December- February 2014, continuing an increase of 9.5% in September-November 2013.

 

Trend data of exports by high technology industries (46% of total manufacture exports) increased 21.7%, at an annual rate, (1.6% monthly average), in December 2013- February 2014, continuing an increase of 45.3% in September-November 2013 (3.2% monthly average). Breakdown by economic activity shows a rise in export of manufacture of pharmaceutical products and in export of manufacture of electronic components and boards.

 

Trend data of exports by medium-high technology industries (36% of total manufacture exports) point to a rise of 0.9%, at an annual rate, in December 2013- February 2014, after a decrease of 5.5% in September- November 2013. Breakdown by economic activity shows that export of chemicals and its products rose by 5.9% at an annual rate.

 

Trend data of exports by medium-low technology industries (11% of total manufacture exports) point to a drop of 21.9% at an annual rate, (-2.1% monthly average), in the last three months continuing a decrease of 34.1%, (-3.4% monthly average), in September-November 2013. Breakdown by economic activity shows a drop in export of manufacture of fabricated metal products.

 

Trend data of exports by low technology industries (7% of total manufacture exports) increased by 5.9% at an annual rate, in December 2013- February 2014 continuing an increase of 4.6% in September-November 2013. Breakdown by economic activity shows that export of manufacture of fine jewellery and imitation jewellery and related products rose by 14.5% at an annual rate.

 

Export of diamonds (net, polished and rough), in January- February 2014, totaled NIS 9.3B (NIS 7.1B in January- February 2013). Agricultural, forestry and fishing exports in January- February 2014 totaled NIS 1.2B (original data), point to a decrease of 11.0% compared to the same period in 2013

 

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