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Israel’s 2013 trade deficit narrows

Trade deficit fell by 21.7% in dollar terms in 2013 and by 73% in shekel terms, compared with 2012
02.02.14 / 10:38
Israel’s 2013 trade deficit narrows
02.02.14
Israel’s 2013 trade deficit narrows

The Central Bureau of Statistics (CBS) reported that Israel's trade deficit fell by 21.7% in dollar terms in 2013 and by 73% in shekel terms, compared with 2012; the trade deficit fell by NIS 20 billion.

 

The CBS also reported that the proportion of Israeli exports to Asia rose in 2013 to 21% of total exports, almost equal to the 22% of exports to the US. The proportion of Israeli exports to the US fell from 28% of all exports in 2010 to 22% in 2013.

 

According to the CBS, the US is still the largest destination of Israeli exports, by country, accounting for US$10.2 billion of exports. Exports to the UK totalled US$3.4 billion and exports to China totalled US$2.56 billion.

 

One third of Israeli exports go to Europe (32% to the EU and another 1% to EFTA countries). The largest export destinations in the EU were the UK and the Netherlands. The EU is also the largest source of imports, accounting for 34% of imports, compared with 12% from the US and 20% from Asia.

 

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