The Central Bureau of Statistics (CBS) reported last week that Israel's trade deficit appears to be narrowing, after rising sharply in 2012.
Figures released by the Central Bureau of Statistics show that in the first four months of the year, the merchandise trade deficit narrowed to an annualized NIS 42.3 billion, down from NIS 70.4 billion in 2012 and NIS 52.2 billion in 2011.
Merchandise exports rose at an 8.1% annualized basis in the period February-April, turning around from a 5.1% annualized decline in the November-January period.
Merchandise imports, not counting ships, aircraft and diamonds, continued to show a decline of 4% on an annualized basis, slowing from a double-digit decline in the previous three months.
High-tech exports were up by 17.7% on an annualized basis, with exports of electronic components jumping 41.2%. That also marked a sharp turnaround after a decline in the previous three months.