Israel’s trade deficit has ballooned since the beginning of 2006, because of higher prices for imported energy products caused by the surge in oil prices. The Central Bureau of Statistics reported today that Israel’s trade deficit totaled $2.73 billion in January-April 2006, compare with $1.79 billion in the corresponding period of 2005.
Israel imported $2.2 billion worth of energy products in January-April, compared with $1.9 billion in the corresponding period of last year.
Israeli exports totaled $12.13 billion in January-April, and imports totaled $14.86 billion. Diamond exports totaled $3.1 billion, 9.3% less than in the corresponding period of last year. Diamond imports were unchanged at $2.7 billion.
Agricultural exports totaled $513 million in January-April, 2.5% more than in the corresponding period of last year. Vegetable exports rose 13% and flower exports rose 8%.
Israel’s trade deficit totaled $958 million in April, the highest monthly level since May 2005. The trade deficit was $441 million in March, and $184 million in April 2005. Exports totaled $2.59 billion in April, and imports totaled $3.54 billion.
Trend figures indicate that industrial exports are rising, especially high-tech goods. Exports of telecommunications equipment and advanced monitoring, scientific and medical equipment rose by 24%, and exports of electronics and computer components rose 22%. Imports of consumer goods and raw materials also rose.
Published by Globes [online], Israel business news - www.globes.co.il - on May 11, 2006
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