Exports in Q1 down by annualized 4.3%, imports unchanged

The Central Bureau of Statistics ( CBS ) published last week its trend figures which indicate that exports, excluding diamonds, fell by an annualized 4.3% in the first quarter, after falling by 2.1% in the fourth quarter of 2005
 
The CBS report rang alarm bells by indicating that high-tech exports, which represents almost half of Israel's industrial exports, fell, in the first quarter, by an annualized 3.9%. The CBS noted that in the fourth quarter of last year high-tech exports fell by 5.2%.

The CBS report also noted that a fall of 5.2% was registered in the exports by the electronic components and computers sector and 3.3% fall in the exports by the advanced medical and scientific monitoring equipment sector.

On import the CBS noted that:
Total imports in the first quarter of 2006, excluding diamonds, were unchanged.
Imports of raw materials, excluding diamonds and fuel, rose by an annualized 3.2% in the first quarter.
Imports of investment goods fell by an annualized 6% in the first quarter.
Imports of consumer goods rose during the first quarter by an annualized 6.6%.
Imports of machinery and equipment, 80% of all imports of investment goods and an indicator of potential growth, fell by an annualized 5.4% in the first quarter.
Imports of perishable consumer goods, including drugs, food, beverages, clothing and footwear, rose by an annualized 14.5%.
Imports of durable goods, including furniture, appliances and private cars, fell by an annualized 6.9%.