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Israel's foreign trade deficit in goods in January totaled NIS 1billion

For the month, import of goods totaled NIS 18.7 billion and export of goods totaled NIS 17.7 billion
14.02.16 / 10:13
Israel's foreign trade deficit in goods in January totaled NIS 1billion
14.02.16
Israel's foreign trade deficit in goods in January totaled NIS 1billion

In January 2016, import of goods totaled NIS 18.7 billion, export of goods totaled NIS 17.7 billion and the trade deficit in goods totaled NIS 1billion.

 

Export of goods as percent of imports (excluding ships, aircraft and diamonds) constituted 84.0% compared to 89.1% at the same month in 2015.

 

Trade deficit (goods only) in the first month of the year totaled NIS 1 billion compared to NIS 0.2 billion deficit in January 2015.

 

Import of goods (excluding ship, aircraft, diamonds and fuels) increased by 3.6% at an annual rate in November 2015-January 2016, according to trend data, continuing an increase of 4.6% in August-October 2015.

 

Export of goods (excluding ships, aircraft and diamonds) increased by 5.0% at an annual rate, according to trend data, continuing an increase of 0.2% in August-October 2015.

 

Import of goods, in January 2016, totaled – as mentioned – NIS 18.7 billion. 43% of total imports were import of raw materials (excluding diamonds and fuels); 22% were consumer goods; 18% were machinery, equipment and land vehicles for investment; and 17% diamonds, fuels, ships and aircraft.

 

Trend data of imported raw materials (excluding diamonds and fuels) decreased by 8.7%, in November 2015-January 2016, at an annual rate continuing a decrease of 1.7% in August –October 2015.

 

A breakdown by groups points that import of iron and steel products decreased by 21.6% in, at an annual rate (-2.0% monthly average). Import of wood and its products decreased by 20.6% in at an annual rate (-1.9% monthly average). In contrast, import of fabrics and yarn increased by 16.1% at an annual rate.

 

Trend data of import of investment goods (excluding ships and aircraft) increased by 21.8%, at an annual rate, in November 2015-January 2016 (1.6% monthly average) continuing an increase of 9.7% in August-October 2015.

 

A breakdown by groups points that import of machinery and equipment (58% of investment imports) point to an increase of 2.4% at an annual rate. Imports of vehicles for investment point to an increase of 63.4%, at an annual rate (4.2% monthly average).

 

Trend data of import of consumer goods increased by 13.7%, at an annual rate in November 2015- January 2016, continuing an increase of 12.9% in August -October 2015.

 

Import of durable goods (furniture, electrical equipment and transport equipment) increased by 21.4%, at an annual rate, in November 2015-January 2016 (1.6% monthly average).

 

Most of the increase was recorded in import of transport equipment. Import of non-durable goods (medicines, food and beverages, and clothing and footwear) increased by 8.0% at an annual rate, in the last three months.

 

Import of diamonds (net, rough and polished) in January 2016 totaled NIS 1.7 billion compared to NIS 1.4 billion in the same period of 2015.

 

Import of fuels (crude oil, distillates and coal) in January 2016 totaled NIS 1.6 billion, a decrease of 37.4% compared to the same month of the previous year.

 

Export of goods totaled – as mentioned –, NIS 17.7 billion in January 2016. Manufacturing, mining and quarrying exports (excluding diamonds) constituted 79% of all export of goods. Export of diamonds constituted 19%, and the remaining 2% were agriculture, forestry and fishing exports.

 

Trend data of manufacturing, mining and quarrying exports point to an increase of 5.5%, at an annual rate, in November 2015-January 2016, continuing an increase of 2.4% in August –October 2015.

 

Trend data of exports by high technology industries (53% of total manufacture exports) increased by 5.6%, at an annual rate, in November 2015-January 2016, continuing an increase of 10.1% in August- October 2015. Breakdown by economic activity shows that export of manufacture of pharmaceutical products increased sharply.

 

Trend data of exports by medium-high technology industries (29% of total manufacture exports) increased by 19.3%, at an annual rate, in November 2015-January 2016, continuing an increase of 1.5% in August-October 2015. Breakdown by economic activity shows that export of manufacture of chemicals and its products increased by 27.4% at an annual rate (2.0% monthly average).

 

Trend data of exports by medium-low technology industries (11% of total manufacture exports) point to drop of 16.3% at an annual rate, in the last three months continuing a decrease of 17.9%, in August- October 2015. Breakdown by economic activity shows that export of manufacture of fabricated metal products, machinery and domestic appliances decreased by 18.9% at an annual rate.

 

Trend data of exports by low technology industries (7% of total manufacture exports) decreased by 5.7% at an annual rate, in November 2015-January 2016 continuing a decrease of 8.4% in August-October 2015. Breakdown by economic activity shows that export of manufacture of wood and its products decreased by 12.2% at an annual rate.

 

Export of diamonds (net, polished and rough), in January 2016, totaled NIS 3.3 billion. Agricultural, forestry and fishing exports in January 2016 totaled NIS 0.4 billion (original data) a decrease of 28.6% compared to the same period in 2015. Export of growing of non-perennial decreased by 39.6% in the same period.

 

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