Israel’s Sees $2.5 Billion Trade Deficit in May

Israel’s Central Bureau of Statistics reported that the country’s exports of goods in May 2024 (excluding diamonds) totaled 17.1 billion Shekels ($4.6 billion). The breakdown showed that 38% of the exports went to European countries, 30% to American countries, 19% to Asian countries and 13% were to the rest of the world.

Imports of goods (excluding diamonds) totaled 26.4 billion Shekels ($7 billion). The breakdown showed that 45% of the imports were from European countries, 31% were from Asian countries, 15% were from American countries and 9% were from the rest of the world.

The trade deficit of goods (excluding diamonds) totaled 9.3 billion Shekels ($2.5 billion).

Trend data in March – May 2024:

Exports of goods to American Countries decreased by 10.1%.

Imports of goods from the US increased by 28.5%.

Exports of goods (excluding ships, aircraft and diamonds) decreased by 2.3% at an annual rate in March – May 2024, according to trend data, following an increase of 3.7% in December 2023 – February 2024.

Trend data indicate that exports (excluding diamonds) to the European Countries increased by 4.1% at an annual rate in March – May 2024, following an increase of 0.8% in December 2023 – February 2024.

Trend data also indicate that exports (excluding diamonds) to the European Union Countries increased by 15.2% at an annual rate in March – May 2024, following an increase of 6.3% in December 2023 – February 2024.