CBS: Israel's exports declined during August

The export of goods dropped by 5.1% between June and August, following a 6.1% increase between March and May
 
The Central Bureau of Statistics (CBS) reported last week that Israel's goods exports dropped during the month of August on all technological levels, excluding high-tech.
 
The export of goods, according to an annual calculation, dropped by 5.1% between June and August, following a 6.1% increase between March and May.
 
The exports of goods totaled US$3.9 billion in August and were comprised of 84% industrial exports, 14% diamond exports and only 2% agricultural exports. The high-tech industry's exports, which make up 49% of all industrial exports, recorded a 25.1% rise in the past three months, according to an annual calculation – an average monthly increase of 1.9%.
 
The CBS recorded a decline in the import of raw materials – pointing to a lower rate of exports expected in Israel in the near future.
 
The import of goods amounted to US$ 5.1 billion in August, while the export of goods totaled only $3.9 billion, leading to a $1.2 billion deficit. Since the beginning of the year, Israel's deficit in the trade of goods has reached a monthly average of $492 million, with an August deficit of nearly three times more than the rest of the year. From June to August the importof goods decreased by 3.1% according to an annual calculation, compared to an 11.2% rise from March to May.