Palestine's trade deficit widened to USD 414 million in April 2019 from USD 382 million in the same month of the previous year. This was the largest trade gap since January, as imports rose while exports fell. Imports increased 7 percent to USD 504.7 million, with purchases from Israel accounting for 58 percent of total imports. Meantime, exports declined 1 percent to USD 90.7 million. Sales to Israel represented 87 percent of total exports. Considering the first four months of the year, the trade deficit widened to USD 1.57 billion from USD 1.47 billion in the same period of 2018. Balance of Trade in Palestine averaged -257.98 USD Million from 2001 until 2019, reaching an all time high of -66.79 USD Million in April of 2002 and a record low of -429.10 USD Million in March of 2011.

Balance of Trade in Palestine is expected to be -382.46 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 Palestine to stand at -381.66 in 12 months time. In the long-term, the Palestine Balance of Trade is projected to trend around -381.70 USD Million in 2020, according to our econometric models.

Palestine Balance of Trade
Forecast Data Chart
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Calendar GMT Actual Previous Consensus TEForecast
2019-03-25 08:00 AM Balance of Trade Jan $-420M $-395.2M $-425M
2019-04-22 02:00 AM Balance of Trade Feb $-376.1M $-420M $-395M
2019-05-23 08:40 AM Balance of Trade Mar $-362.9M $-376.1M $-380.7M
2019-06-26 06:35 AM Balance of Trade Apr $-414M $-362.9M $-392M

Palestine Trade Last Previous Highest Lowest Unit
Balance of Trade -414.00 -362.90 -66.79 -429.10 USD Million [+]
Current Account -403.00 -306.00 764.40 -1516.00 USD Million [+]
Current Account to GDP -10.80 -14.50 -8.10 -34.95 percent [+]
Exports 90.70 93.80 100.20 15.92 USD Million [+]
Imports 504.70 456.70 508.00 82.71 USD Million [+]
Foreign Direct Investment 2831.00 2721.00 2831.00 892.90 USD Million [+]
Terrorism Index 5.33 5.55 6.06 4.09 [+]
Tourist Arrivals 503.00 400.00 556.00 33.00 Thousand [+]

Palestine Balance of Trade

Palestine reports chronic trade deficits due to the territories' inability to access key resources and because of the mobility restrictions imposed by Israel. Palestine mainly exports cement, base metals, iron and steel, food and beverages, furniture, plastics and dairy products. Palestine mainly imports oil, food, vegetables, machinery, metals, vehicles, chemicals, livestock, beverages and salt. Palestine's main trading partner is Israel (accounting for around 74 percent of total trade). Other trading partners include China, Turkey, Germany, Italy and France. . This page provides the latest reported value for - Palestine Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Palestine Balance of Trade - actual data, historical chart and calendar of releases - was last updated on October of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-414.00 -362.90 -66.79 -429.10 2001 - 2019 USD Million Monthly

Country Last Previous
Argentina 1744.00 Sep/19
Australia 5926.00 Aug/19
Brazil 2250.00 Sep/19
Canada -955.30 Aug/19
China 396.50 Sep/19
Euro Area 14702.40 Aug/19
France -5019.00 Aug/19
Germany 16205.00 Aug/19
India -10860.00 Sep/19
Indonesia -160.50 Sep/19
Italy 2585.00 Aug/19
Japan -122.98 Sep/19
Mexico 775.00 Aug/19
Netherlands 3879.00 Aug/19
Russia 12006.00 Aug/19
Saudi Arabia 127500.00 Jun/19
Singapore 3833.90 Sep/19
South Africa 6842.94 Aug/19
South Korea 5973.00 Sep/19
Spain -3984900.00 Aug/19
Switzerland 2881.00 Sep/19
Turkey -2500.39 Aug/19
United Kingdom -1546.00 Aug/19
United States -54896.00 Aug/19