The trade deficit in Israel stood at USD 1.5 billion in May 2019, unchanged from the corresponding month of the previous year. Exports slumped 8.5 percent to USD 4.3 billion and imports dropped 6.3 percent to USD 5.8 billion. Considering the January to May period, the trade gap widened to USD 8.5 billion from USD 7.7 billion in the same period of 2018, as exports fell 3.9 percent to USD 23.1 billion while imports edged down 0.2 percent to USD 31.6 billion. Balance of Trade in Israel averaged -493.43 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 -3019 USD Million in July of 2018.
Balance of Trade in Israel is expected to be -2280.00 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 -1500.40 in 12 months time. In the long-term, the Israel Balance of Trade is projected to trend around -1589.70 USD Million in 2020, according to our econometric models.