Israel’s trade deficit in goods totaled NIS 3.3 billion in May

The Israel Central Bureau of Statistics (CBS) reported that in May 2015, import of goods (gross, excluding diamonds) totaled NIS 17.9 billion. 34% were imports from EU countries, 22% - from Asian countries, 14% - from USA and 30% - from Other Countries.

The CBS noted that trend data in March-May 2015 point to a rise of 15.6% in exports of goods to EU countries. The CBS also noted a decrease in import of goods from the EU countries (-5.2%) and from Asian countries (-19.2%).

In May 2015, export of goods (gross, excluding diamonds) totaled NIS 14.6 billion and the trade deficit in goods (excluding diamonds) totaled NIS 3.3 billion. 34% were exports to EU countries, 22% - to Asian countries, 24% - to USA, and 20% - to other countries.

Trade Balance January-May 2015 - The trade deficit in goods (excl. diamonds) with EU countries totaled NIS 6.8 billion (11.5% compared to January-May 2014). The trade deficit in goods (excl. diamonds) with Asian countries totaled NIS 4.2 billion (-21.8.1% compared to January-May 2014).

The trade surplus in goods (excl. diamonds) with USA totaled NIS 5.8 billion compared with NIS 3.0 billion in the same period of the previous year (93.4% compared to January-May 2014).

An overview of the development of import and export of goods during May 2015 was published in a media release - Israel's Foreign Trade, Import And Export of Goods: May 2015 on 11.05.2015. Import of Goods March -May 2015 - Trend data by main country groups indicates that imports from EU countries decreased by 5.2%, at an annual rate, in march-May 2015, continuing an decrease of 1.9% in December 2014-February 2015.

In January-May 2015 imports (excluding diamonds) from Germany, Slovenia and Czech republic decreased significantly.Imports of goods from USA increased by 0.9%, at an annual rate, in march-May 2015, continuing an increase of 25.8% in December 2014-February 2015 (1.9% monthly average).

Imports from Asian Countries decreased by 9.9% in the last three months at an annual rate, after an increase of 4.6% in December 2014-February 2015 at an annual rate. In January-May 2015 imports (excluding diamonds) from South Korea, and Philippines decreased significantly.

Imports from Other Countries increased by 0.3% in the last three months, at an annual rate, after a decrease of 17% in December 2014-February 2015. In January-May 2015 imports (excluding diamonds) from Russian Federation, Switzerland and Paraguay increased significantly.

Export of Goods March-May 2015 - Exports to EU countries increased by 15.6%, at an annual rate in March-May 2015, continuing a increase of 5.5% in December 2014-February 2015. In January-May 2015 exports (excluding diamonds) to United Kingdom, Slovenia and Slovakia increased significantly.

Exports to USA decreased by 16.3%, at an annual rate in March-May 2015, after an increase of 15.8% in December 2014-February 2015. Exports to Asian Countries decreased by 3.4%, at an annual rate in the last three months, after an increase of 48.6% in December 2014-February 2015 (3.4% monthly average).

In January-May 2015 exports (excluding diamonds) to Malaysia, Singapore and Georgia decreased significantly.

Exports to Other Countries decreased by 43.8%, at an annual rate in March-May 2015, continuing a decrease of 30.4% in December 2014-February 2015 (-3.0% monthly average). In January-May 2015 exports (excluding diamonds) to Turkey, Ghana and Egypt decreased significantly.