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Israel's January-May 2015 trade deficit in goods totaled NIS 7.9 billion

During May, import of goods totaled NIS 20.2 billion, export of goods totaled NIS 18.8 billion
14.06.15 / 10:27
Israel's January-May 2015 trade deficit in goods totaled NIS 7.9 billion
14.06.15
Israel's January-May 2015 trade deficit in goods totaled NIS 7.9 billion

In May 2015, import of goods totaled NIS 20.2 billion, export of goods totaled NIS 18.8 billion and the trade deficit in goods totaled NIS 1.4 billion.

 

Export of goods as percentage of imports (excluding ships, aircraft and diamonds) constituted 86% compared to 77% at the same period in 2014.

 

Trade deficit (goods only) in January -May totaled NIS 7.9 billion compared to NIS 16.1 billion deficit in January -May 2014.

 

Import of goods (excluding ship, aircraft, diamonds and fuels) decreased by 8.8% at an annual rate in March-May 2015, according to trend data, after an increase of 2.2% in December 2014 - February 2015.

 

Export of goods (excluding ships, aircraft and diamonds) decreased by 9.7% at an annual rate, according to trend data, after an increase of 6.8% in December 2014 - February 2015.

 

Trade in goods in May 2015 was influenced by changes in the value of the NIS against other currencies in which import and export transactions are conducted.

 

in May 2015, the NIS strengthened compared the US Dollar by 2.0% and compared to the Japanese Yen the NIS strengthened by 3.0%. In contrast the NIS weakened compared to the Euro by 1.5%, compared to the Sterling Pound weakened by 1.4%, and compared to the Swiss Franc weakened by 1.4%.

 

Import of goods, in May 2015, totaled NIS 20.2 billion. 40% of total imports were import of raw materials (excluding diamonds and fuels); 18% were consumer goods; 14% were machinery, equipment and land vehicles for investment; and 28% diamonds, fuels, ships and aircraft.

 

Trend data of imported raw materials (excluding diamonds and fuels) decreased by 11.3%, in March - May 2015, at an annual rate after an increase of 4.2% in December 2014 - February 2015.

 

A breakdown by groups points that import of Wood and its products decreased by 25.5% at an annual rate, import of Iron and steel products decreased by 23.7% at an annual rate and import of rubber and plastics decreased by 22.9% at an annual rate. In contrast, import of inputs for Paper manufacturing increased by 9.0% at an annual rate.

 

Trend data of import of investment goods (excluding ships and aircraft) decreased by 8.0%, at an annual rate, in March-May 2015 continuing a decrease of 7.9% in December 2014 - February 2015. A breakdown by groups points that import of machinery and equipment (65% of investment imports) point to a decrease of 4.4% at an annual rate. Import of vehicles for investment point to a decrease of 19.8%, at an annual rate.

 

Trend data of import of consumer goods decreased by 8.0% at an annual rate in March- May 2015, continuing a decrease of 0.3% in December 2014 - February 2015. Import of non-durable goods (medicines, food and beverages, and clothing and footwear) decreased by 4.6% at an annual rate, in the last three months. import of durable goods (furniture, electrical equipment and transport equipment) decreased by 15.1%, at an annual rate, in February-May 2015.

 

Import of diamonds (net, rough and polished) in January -May 2015 totaled NIS 11.2 billion compared to NIS 12.3 billion in the same period of 2014.

 

Import of fuels (crude oil, distillates and coal) in January -May 2015 totaled NIS 13.7 billion, a decrease of 32% compared to the same months of the previous year.

 

Export of goods totaled NIS 18.8 billion in May 2015. Manufacturing, mining and quarrying exports (excluding diamonds) constituted 76% of all export of goods. Export of diamonds constituted 22%, and the remaining 2% were agriculture, forestry and fishing exports.

 

Trend data of manufacturing, mining and quarrying exports point to a decrease of 9.6%, at an annual rate, in March -May 2015, after an increase of 4.7% in December 2014 - February 2015.

 

Trend data of manufacture exports, by technological intensity: Trend data of exports by high technology industries (50% of total manufacture exports) increased by 17.5%, at an annual rate, in March –May, continuing an increase of 52.0% in December 2014 – February 2015 (3.5% monthly average). Breakdown by economic activity shows that most of the activities increased sharply.

 

Trend data of exports by medium-high technology industries (31% of total manufacture exports) decreased by 39.7% ,(-4.1% monthly average). at an annual rate, in March -May 2015, continuing a decrease of 27.3% (-2.7% monthly average). in December 2014 - February 2015. Breakdown by economic activity shows that export of manufacture of chemicals and products decreased by 50.0% at an annual rate (-5.6% monthly average).

 

Trend data of exports by medium-low technology industries (12% of total manufacture exports) point to drop of 21.7% at an annual rate (-2.0% monthly average), in the last three months continuing a decrease of 22.3%, (-2.1% monthly average) in December 2014 - February 2015.

 

Trend data of exports by low technology industries (7% of total manufacture exports) decreased by 0.6% at an annual rate, in March -May 2015 after an increase of 6.8% in December 2014 - February 2015.

 

Breakdown by economic activity shows that export of manufacture of food products, beverages and tobacco products a decreased by 10.1% at an annual rate.

 

Export of diamonds (net, polished and rough), in January - May 2015, totaled NIS 16.0 billion compared to NIS 17.3 billion in the same period in 2014.

 

Agricultural, forestry and fishing exports in January - May 2015 totaled NIS 2.6 billion (original data) a decrease of 7.8% compared to the same period in 2014. Export of flowers decreased by 13.9% in the same period.

 

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