The trade deficit in Israel rose to USD 3.04 billion in December of 2019 from USD 2.00 billion in the corresponding month of the previous year. Exports fell 2.5 percent year-on-year to USD 4.07 billion while imports jumped 15.1 percent to USD 7.11 billion. Considering full 2019, the trade gap widened to USD 23.7 billion from USD 21.5 billion last year, as exports plunged 4.2 percent to USD 51.9 billion while imports were unchanged at USD 75.6 billion. Exporters have suffered from a strong shekel, which appreciated 8.3 percent last year against a basket of currencies of Israel's main trading partners. Balance of Trade in Israel averaged -509.01 USD Million from 1959 until 2019, reaching an all time high of 113.80 USD Million in May of 2009 and a record low of -3059.40 USD Million in July of 2019.

Balance of Trade in Israel is expected to be -1660.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Israel to stand at -2080.00 in 12 months time. In the long-term, the Israel Balance of Trade is projected to trend around -2160.00 USD Million in 2020, according to our econometric models.

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Israel Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-3039.30 -965.90 113.80 -3059.40 1959 - 2019 USD Million Monthly



Calendar GMT Actual Previous Consensus TEForecast
2019-10-30 11:00 AM Sep $-1697.1M $-1752M $ -1090M
2019-11-13 11:00 AM Oct $-2510.2M $-1490.4M $-2280M
2019-12-11 11:00 AM Nov $-978.2M $-2632.2M $-1460M
2020-01-13 11:00 AM Dec $-3039.3M $-965.9M $ -1940M
2020-02-12 11:00 AM Jan $-3039.3M


News Stream
2019-12-11
Israel Trade Gap Narrows 25.8% YoY in November
The trade deficit in Israel decreased to USD 978.2 million in November of 2019 from USD 1,318.2 million in the corresponding month of the previous year. Exports dropped 1.0 percent to USD 4,632.8 million while imports fell 6.5 percent to USD 5,611 million. Considering the January to November period, the trade gap widened to USD 20.8 billion from USD 19.5 billion in the same period of 2018, as exports fell 4.8 percent to USD 47.6 billion while imports dropped at a softer 1.5 percent to USD 68.4 billion.

2019-11-13
Israel Trade Gap Widens Slightly in October
The trade deficit in Israel rose to USD 2.5 billion in October of 2019 from USD 2.4 billion in the corresponding month of the previous year. Exports slumped 21.8 percent to USD 3.6 billion and imports edged down 12.9 percent to USD 6.1 billion. Considering the January to October period, the trade gap widened to USD 19.7 billion from USD 18.2 billion in the same period of 2018, as exports fell 4.9 percent to USD 43.1 billion while imports dropped 1.1 percent to USD 62.8 billion.

2019-10-30
Israel Trade Gap Widens 49% YoY in September
The trade deficit in Israel rose to USD 1.7 billion in September of 2019 from USD 1.1 billion in the corresponding month of the previous year. Exports increased 5.7 percent to USD 3.8 billion while imports jumped 16.1 percent to USD 5.5 billion. Considering the January to September period, the trade gap widened to USD 17.4 billion from USD 15.8 billion in the same period of 2018, as exports fell 3.5 percent to USD 39.3 billion while imports went up 0.4 percent to USD 56.7 billion.

2019-09-11
Israel Trade Gap Narrows 8.2% YoY in August
The trade deficit in Israel decreased to USD 1,713.5 million in August of 2019 from USD 1,866 million in the corresponding month of the previous year. Exports dropped 6.0 percent to USD 4,366.6 million while imports fell 6.6 percent to USD 6,080.1 million. Considering the January to August period, the trade gap widened to USD 15.7 billion from USD 14.6 billion in the same period of 2018, as exports fell 4.3 percent to USD 35.5 billion while imports dropped at a softer 1.1 percent to USD 51.1 billion.

2019-08-13
Israel Trade Gap Narrows Slightly in July
The trade deficit in Israel decreased to USD 2,937 million in July 2019 from USD 3,019 million in the corresponding month of the previous year. Exports jumped 6.6 percent to USD 4,296 million while imports rose at a softer 2.6 percent to USD 7,233 million. Considering the January to July period, the trade gap widened to USD 13.9 billion from USD 12.8 billion in the same period of 2018, as exports fell 3.8 percent to USD 31.2 billion while imports dropped 0.3 percent to USD 45 billion.

2019-07-11
Israel Trade Gap Widens Slightly in June
The trade deficit in Israel rose to USD 2.2 billion in June 2019 from USD 2.1 billion in the corresponding month of the previous year. Exports slumped 8.3 percent to USD 3.9 billion and imports edged down 3.9 percent to USD 6.1 billion. Considering the January to May period, the trade gap widened sharply to USD 11.1 billion from USD 9.9 billion in the same period of 2018, as exports fell 5.9 percent to USD 26.7 billion while imports dropped 0.8 percent to USD 37.8 billion.


Israel Balance of Trade
Israel has been recording trade deficits since 1959 mostly due to a lack of natural resources. Indeed, Israel major imports are: oil and other mineral fuels and uncut diamonds. Main exports are: cut diamonds, pearls and other precious metals and stones; electrical machinery and equipment, mechanical machinery and appliances and electronics. Israel´s main trading partner is the United States (28 percent of total exports and 12 percent of imports). Others include: Hong Kong, China, Belgium, Netherlands, Germany and United Kingdom.

Israel Trade Last Previous Highest Lowest Unit
Balance of Trade -3039.30 -965.90 113.80 -3059.40 USD Million [+]
Current Account 3932.20 4232.90 4385.90 -1750.20 USD Million [+]
Current Account to GDP 1.90 2.60 5.30 -8.40 percent [+]
Imports 7109.90 5667.20 7234.90 33.10 USD Million [+]
Exports 4070.60 4701.30 5848.30 10.80 USD Million [+]
External Debt 98329.20 97463.60 115301.00 18963.00 USD Million [+]
Terms of Trade 98.05 96.68 120.76 87.22 points [+]
Capital Flows 1306.20 781.90 8287.10 -3525.60 USD Million [+]
Foreign Direct Investment 49899.00 48141.40 49899.00 -10028.10 USD Million [+]
Remittances 1164.30 1224.80 1541.60 46.60 USD Million [+]
Tourist Arrivals 358.30 451.20 486.00 15.00 Thousand [+]
Terrorism Index 4.53 4.58 6.86 4.53 [+]
Weapons Sales 707.00 1254.00 1441.00 4.00 USD Million [+]
Crude Oil Production 0.39 0.39 0.39 0.06 BBL/D/1K [+]