August – Imports Up, Export Down

Data related to foreign trade published by the Central Bureau of Statistics (CBS), for august 2004, show a slide in exports and rise in imports.
 
During the first eight months imports totaled us$26.3 billions while exports reached a total of us$21.7 billions, total deficit for the period was us$4.7 billions.
 
Import analysis
Import for August totaled us$3.9 billions of which 38% was raw materials, 14% machinery, equipment and vehicles, 14% consumer goods and the rest being diamonds, energy products ships and planes.
 
Overall import trend, calculated by the CBS, after allowing for seasonal variations indicates annualized growth of 7.5%
 
Import of raw materials, excluding diamonds and energy, grew in recent months by annualized 9.2%.
 
Import of capital goods, excluding ships and planes, grew during the last two months by annualized rate of 5.5%. import of equipment & machinery which consist of 80% of capital goods import was unchanged however transport equipment grew during the two months by 5.5% ( annualized 38.1% )
 
Import of consumer goods during July – August was unchanged.
 
Export analysis
Export during August totaled us$2.3 billions of which 70% was industrial and 29% diamonds and agricultural produce. Data published by the CBS show a downturn of 11.1%.
 
High-tech exports ( 49% of total exports )  was up 17% during June – August following an increase of 34.2% in March – May. The increase consisted mainly of communication equipment, control and medical equipment 23.2% while export of computers and computer hardware was down 11.5% during June – August.
 
Export of combined traditional (19% of total industrial exports ) was down by annualized 11.4% following an increase of 4.1% during March – May.
 
Export of traditional technology ( 9% of total industrial exports ) was down at an annualized rate of 16.4% following 4.1% rise in March – May.