CBS: February trade deficit $900m

Israel’s trade deficit averaged US$668 million a month in January-February. In the two month period January-February 2007 Imports totaled US$8.1 billion
 
The Central Bureau of Statistics (CBS) reported last week that Israel’s trade deficit totaled US$900 million in February 2007. Exports in February totaled US$3.2 billion, and imports US$4.1 billion.
 
Israel’s trade deficit, according to the CBS averaged US$668 million a month in January-February, amounting to an annualized US$8 billion, the same level as in 2006. In the two month period January-February 2007 Imports totaled US$8.1 billion in and exports US$6.8 billion.
 
The CBS's trend data, however, indicate two interesting economic trends:
 
A steady increase in both imports and industrial output, especially by the high-tech industries.
 
Slowing in imports of consumer goods and raw materials.