Israel's trade deficit averaged $1.2 billion a month in January-November 2008, amounting to an annualized $14 billion, the Central Bureau of Statistics reports. The trade deficit is 37% higher than the $10.7 billion trade deficit in 2007. Import of goods totaled $4.7 billion in November, export of goods totaled $3.8 billion, and the trade deficit totaled $900 million.
Central Bureau of Statistics data shows that Israeli exports are plummeting. Exports of goods, excluding diamonds fell by an annualized 9.5% in trend figures for September-November, after remaining unchanged in June-August. High-tech exports, 42% of total exports of goods excluding diamonds, fell by an annualized 7.4% in September-November, after falling by 5.4% in June-August.
However, mixed high-tech exports, 32% of total exports of goods, rose by an annualized 4.9% in September-November, after rising by an annualized 25.3% in June-August. Mixed-low technology exports, 20% of total exports of goods, fell by an annualized 37.5% in September-November. Low technology exports, 6% of total exports of goods, rose by an annualized 14.9% in September-November, after rising by an annualized 19.6% in June-August.
Polished and rough diamonds exports in January-November 2008 totaled $9.4 billion in January-November, 4.8% less than in the corresponding period of 2007. Agricultural exports totaled $1.1 billion in January-November, 5.3% less than in the corresponding period.
Published by Globes [online], Israel business news - www.globes-online.com - on December 11, 2008
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