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Israel's foreign trade deficit for November totaled NIS 27.7 billion

Import of goods for the month totaled NIS 19.4 billion, export of goods totaled NIS 17.9 billion
20.12.15 / 10:32
Israel's foreign trade deficit for November totaled NIS 27.7 billion
20.12.15
Israel's foreign trade deficit for November totaled NIS 27.7 billion

Data released by the Israel Central Bureau of Statistics (CBS) show that in November 2015, import of goods totaled NIS 19.4 billion, export of goods totaled NIS 17.9 billion and the trade deficit in goods totaled NIS 1.5 billion, January-November 2015 trade deficit in goods totaled NIS 27.7 billion.

 

November 2015 export of goods as percent of imports (excluding ships, aircraft and diamonds) constituted 83.0% compared to 76.8% at the same period in 2014.

 

Trade deficit (goods only) in January - November totaled NIS 2.5 billion, monthly average, NIS 30.2 billion at annual rate (NIS 49.4 billion deficit in 2014).

 

Import of goods (excluding ship, aircraft, diamonds and fuels) decreased by 2.5% at an annual rate in September-November 2015, according to trend data, after an increase of 3.4% in June-August 2015.

 

Export of goods (excluding ships, aircraft and diamonds) decreased by 0.2% at an annual rate, according to trend data, continuing a decrease of 7.5% in June - August 2015.

 

Import of goods, in November 2015, totaled NIS 19.4 billion. 43% of total imports were import of raw materials (excluding diamonds and fuels); 19% were consumer goods; 15% were machinery, equipment and land vehicles for investment; and 23% diamonds, fuels, ships and aircraft.

 

Trend data of imported raw materials (excluding diamonds and fuels) decreased by 0.5%, in September –November 2015, at an annual rate continuing a decrease of 0.6% in June - August 2015.

 

A breakdown by groups points that import of non ferrous metals decreased by 19.6% at annual rate and import of inputs for machine and electronics manufacturing decreased by 13.0% at an annual rate. In contrast import of inputs for agriculture increased by 58.9% at an annual rate (3.9% monthly average),

 

Trend data of import of investment goods (excluding ships and aircraft) decreased by 1.7%, at annual rate, in September-November 2015 after an increase of 6.7% in June - August 2015. A breakdown by groups points that import of transport equipment point to a decrease of 12.0% at an annual rate.

 

In contrast import of machinery and equipment (70% of investment imports) point to an increase of 0.7% at an annual rate.

 

Trend data of import of consumer goods increased by 3.8% at an annual rate in September – November 2015, continuing an increase of 5.6% in June - August 2015.

 

Import of non-durable goods (medicines, food and beverages, clothing and footwear and house-hold utensils) increased by 6.1% at an annual rate, in the last three months.

 

A breakdown by economic activity shows that import of food and beverages increased by 15.7% at an annual rate. Import of durable goods (furniture, electrical equipment and transport equipment) increased by 4.3%, at an annual rate, in September-November 2015.

 

Import of diamonds (net, rough and polished) in January -November 2015 totaled NIS 22.0 billion compared to NIS 27.4 billion in the same period of 2014 (-19.8% compared to the same period in 2014).

 

Import of fuels (crude oil, distillates and coal) in January -November 2015 totaled NIS 27.2 billion, compared to NIS 42.6 billion in the same period of 2014 (-36.1% compared to the same period in 2014).

 

Export of goods totaled NIS 17.9 billion in November 2015. Manufacturing, mining and quarrying exports (excluding diamonds) constituted 83% of all export of goods. Export of diamonds constituted 15%, and the remaining 2% were agriculture, forestry and fishing exports.

 

Trend data of manufacturing, mining and quarrying exports (excluding diamonds) point to a decrease of 1.1%, at an annual rate, in September -November 2015, continuing a decrease of 6.7% in June – August 2015.

 

Trend data of manufacture exports, by technological intensity

Trend data of exports by high technology industries (50% of total manufacture exports) increased by 3.7%, at an annual rate, in September –November 2015, continuing an increase of 0.9% in June – August 2015.

 

Trend data of exports by medium-high technology industries (31% of total manufacture exports) decreased by 3.5% at an annual rate, in September -November 2015, continuing a decrease of 15.4% at an annual rate in June - August 2015.

 

A breakdown by economic activity shows that export of manufacture of motor vehicles and other transport equipment decreased by 17.3% at an annual rate.

 

Trend data of exports by medium-low technology industries (12% of total manufacture exports) point tom a drop of 21.8% at an annual rate in the last three months (-2.0% monthly average) continuing a decrease of 16.6%, in June-August 2015. Breakdown by economic activity shows that export of manufacture of basic metals decreased by 43.1% (-4.6% monthly average).

 

Trend data of exports by low technology industries (7% of total manufacture exports) decreased by 7.0% at an annual rate, in September-November 2015 continuing a decrease of 3.8% in June-August 2015. Breakdown by economic activity shows that export of manufacture of food products, beverages and tobacco products decreased by 12.9% at an annual rate.

 

Export of diamonds (net, polished and rough), in January-November 2015, totaled NIS 26.9 billion compared to NIS 32.4 billion in the same period in 2014.

 

Agricultural, forestry and fishing exports in January-November 2015 totaled NIS 4.1 billion (original data) a decrease of 6.5% compared to the same period in 2014. Export of growing of flowers, decreased by 13.0% compared to the same period in 2014.

 

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