July 2004 – indicators show fall in trade with E.E.C, increase of exports to the U.S.A.

According to data released by the CBS (Central Bureau of Statistics) there has been a downturn in exports. According to trend data, the export of goods, excluding diamonds, fell by an annualized 5% in June-July 2004, after rising 12.7% in March-May.
 
During January – July total import except diamonds was US$17.6 Billions. 40% of imports was generated from the E.E.C, 18% from the E.E.C, 16% from Asia.
 
Exports during the seven months period, except diamonds, totaled US$13.6billions. exports to the E.E.C was 34% of the total, 28% to the U.S.A & 15% to Asia.
 
Foreign trade figures were largely affected by the labor dispute at the ports, during July.
Exports to all destinations, except to the US, fell.
 
Exports to the E.E.C fell by an annualized 13.9% in May-July, after remaining unchanged in April. Exports to Asia fell 12.3% in May-July, after falling 2.4% in April.
 
Exports to the rest of the world, fell by an annualized 7.4% in June-July, after rising 14% in March-May. Exports to the US were the exception, rising by an annualized 8.3% in May-July, after rising 18.2% in February-April.
 
According to CBS figures there was a negative change in the import of goods. Imported goods, excluding diamonds, ships, planes and fuel, fell by an annualized 3.3% in June-July, after rising 9.6% in March-May.
 
Figures also indicate that imports fell from most origins: imports from the EU fell by an annualized 5.2% in June-July, after remaining unchanged in May.
 
Imports from the U.S. fell by an annualized 8.5% in June-July, after rising 20.9% in March-May.
 
Trade balance for the seven months period indicate a US$603millions surplus with the U.S.A and deficit of US$2.4 billions with the E.E.C, US$ 842 millions with Asia and US$ 1.3 billions with the rest of the world.