Seasonally adjusted trend data point to an annualized drop in exports of goods (excluding diamonds) of 3.4% and an annualized increase in imports of goods of 2.8% in August-October 2008, the Central Bureau of Statistics reported today.
This is the first drop in exports in five years, although there have been slowdowns in the rate of growth.
Imports of goods totaled $4.8 billion in October and exports of goods totaled $3.1 billion, the Central Bureau of Statistics reported today. The deficit totaled $1.8 billion. The figures do not include trade with Palestinian Authority, and does not include foreign trade in services such as software.
In January-October, the average monthly trade deficit was $1.2 billion, which translated to an annualized $14.6 billion. The trade deficit is expected to reach $17 billion in 2008, 70% more than the $10.2 billion traded deficit in 2007.
Manufacturing exports (excluding diamonds) constituted 82% of all export of goods in October; diamonds accounted for 15%, and agriculture for 3%. High-tech exports totaled $1 billion in October, 40% of total manufactured exports. Trend data point to an annualized drop of 18.2% in high-tech exports.
Published by Globes [online], Israel business news - www.globes-online.com - on November 13, 2008
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