Israel's trade deficit, excluding diamonds, totaled $1.6 billion in July: $5.5 billion in imports and $3.9 billion in exports.
36% of imports were from the EU and 31% of exports were to it; 12% of imports were from the US and 25% of exports were to it; and 20% of imports were from Asian countries, and 21% exports were to them.
The trade deficit, excluding diamonds, totaled $9.6 billion in January-July, up from $3.8 billion in the corresponding months of 2010. The trade deficit with the EU totaled $3.9 billion, and the trade deficit with Asian countries totaled $3 billion. Israel had a trade surplus of $2.7 billion with the US in January-July.
In trend figures (annualized figures), the growth in imports (excluding diamonds) from the EU slowed to 11% in May-July from 43.7% in February-April. Imports growth from the US slowed to 9.2% in May-July from 59.2% in February April, and imports growth from Asian countries slowed to 5.8% in May-July from 35.1% in February April.
The largest increase in imports in May-July were from Spain, the Czech Republic, Japan, Taiwan, Jordan, Turkey, Norway, and Argentina.
On the export side (excluding diamonds), by an annualized 0.4% in May-July, after rising by an annualized 18.5% in February-April. Exports to the EU rose by 22.5% in May-July, after rising by 63.9% in February-April; exports to the US fell by 19.5% in May-July, after rising by 5.7% in February-April; and exports to Asian countries rose by 20.6% in May-July, after rising by 8.2% in February-April.
The largest increase in exports in May-July were to Japan, Vietnam, and China in Asia, and to Hungary, Portugal, and Sweden in the EU, and to Egypt and Nigeria in Africa.
Published by Globes [online], Israel business news - www.globes-online.com - on August 17, 2011
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