Strong defense exports and weak imports reduce the trade deficit

ISRAEL - In Brief 13 Sep 2023 by Jonathan Katz
Industrial exports continue to expand parallel to weak import growth. In June-August, industrial exports expanded by 8.2% saar (trend) following growth of 7.5% in the previous three months. Most of this expansion is centered around defense exports (transportation equipment, electronic products) although there is no such defined category in the CBS numbers. Meanwhile, some imports are contracting, including both consumer imports (down 1.8% in the past three months following a decline of 2.3%) and imports of raw materials (-5% in Q2), while imports of investment goods expanded by 15% saar. Bottom line: The trade deficit has declined by 6.3bn USD in Jan-Aug 23 compared to last year, reflecting a 22% contraction. This should be reflected in a steady and strong CA surplus (data for Q2 to be released today), an underlining factor which is shekel supportive.

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this or its contents.