CBS: due to increase in global oil prices balance of trade deficit up 21.4%

The Central Bureau of Statistics (CBS) reported last week that in 2005 Israel’s balance of trade deficit rose by 21.4%, due to the rise in global oil prices.
 
The CBS noted that in 2005 Israel’s balance of trade deficit totaled $7.94 billion, compared with $6.54 billion in 2004. In 2005 Israel’s fuel imports totaled $6.8 billion, an increase of 50% compared to 2004.
 
In 2005 exports rose 7.7% to $36.43 billion. Imports rose 9.9% to $44.37 billion.
In a detailed statement issued last week the CBS said that in December 2005 Israel’s balance of trade deficit totaled $820 million, compared with $439 million in December 2004, an increase of 87%.
 
In December 2005 exports totaled $2.91 billion and imports totaled $3.73 billion. The CBS noted that excluding fuel imports, Israel had a balance of trade surplus of $143 million.