CBS: Israel's trade deficit up in August 2007

The August deficit was the largest monthly deficit in several years. The large trade deficit was partly due to higher fuel imports, driven by rising global oil prices
 
The Central Bureau of Statistics (CBS) reported last week that Israel’s trade deficit totaled US$1.6 billion in August 2007.
 
In a monthly statement issued by the CBS early last week it noted that the August deficit was the largest monthly deficit in several years.
 
The large trade deficit was partly due to higher fuel imports, driven by rising global oil prices. According to the CBS exports in August 2007  totaled US$3.5 billion and imports totaled US$5.1 billion.
 
For the eight months period January-August 2007 the trade deficit totaled US$6.4 billion, 28% more than the US$5 billion in the corresponding period of 2006.
The CBS noted that during the eight months period January-August 2007 exports totaled US$29.6 billion, 14% more than the US$25.9 billion in the corresponding period. Imports totaled US$36 billion, 16% more than the US$30.9 billion in the corresponding period.