The Central Bureau of Statistics ( CBS ) announced last week that Israel's trade deficit for 2004 increased sharply to $6.8 billion,$981 million, or 16.9%, more than in 2003. The country imported goods worth $40.5 billion and exported $33.7 billion last year.
Both figures were about 20% higher than 2003. Industrial exports net of diamonds amounted to $23.5 billion, nearly 70% of exported goods.
The trade deficit excluding diamonds and fuels rose less steeply, by 9.7%, to $2.8 billion. This is, according to the CBS, the first rise since 1996.
The figure represents a 22% gain over the preceding year. Advanced technology exports were 46% of that figure, also showing a gain. Agricultural exports, just shy of 3 percent of exports amounted to $900 million, up 27% over 2003.
Import of raw materials – 40% of imports - was up 23.6% on 2003 figures. Consumer goods, 12% of imports, were up 19%. Vehicle imports were 15% higher in 2004 than in 2003. Trend figures for the past three months, October – December, indicate an annual rise of 11.3% in imports of raw materials, a rise of 13.1% in imports of consumer goods, and a 12.7% rise in industrial exports. Exports by the high-tech industries rose 11.4% in that period, with exports of communications equipment and of medical and advanced scientific equipment leading the rise.
