Israel's trade deficit in January-July 2011 tripled to $8.6 billion from $2.8 billion in January-July 2011, mainly due to the rise in fuel prices, the Central Bureau of Statistics reported.
The trade deficit rose to NIS 5.7 billion in July. The trade deficit averaged NIS 4.3 billion a month in January-July reflecting an all-time of NIS 51.4 billion in annual terms, compared with NIS 29 billion in 2010. Imports totaled NIS 22.7 billion in July and exports totaled NIS 16.9 billion.
Industrial exports fell by an annualized 9% in May-July 2011, after rising by an annualized 5% in February April, highlighting exporters' worries. High-tech exports, half of industrial exports, fell by an annualized 11% in May-July, after falling 1% in the preceding three months.
A breakdown of exports by high-tech subsectors shows that exports of electronic components fell by an annualized 41% in May-July, and exports of communications, scientific, medical, and control equipment fell 12%; exports.
Exports of mid-low technology exports, 17% of all industrial exports, fell by an annualized 17% in May-July. Exports of mid high-tech exports (such as chemicals), 30% of all industrial exports, rose by an annualized 5% in May-July, down from the annualized rate of 23% in February-April.
Published by Globes [online], Israel business news - www.globes-online.com - on August 11, 2011
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