CBS: trade deficit in January-March up 55%

The Central Bureau of Statistics (CBS) reported last week that due to increasing imports and the sharp rise in fuel & energy prices, Israel’s trade deficit jumped by 55% in the first quarter of 2006
 
According to the CBS Israel’s trade deficit rose to $2.01 billion, compared with $1.34 billion in the parallel quarter of 2005.
 
The CBS noted that Israel spent in the first quarter $2.7 billion on imports of fuel and various energy products, compared with $1.4 billion in the parallel period, in 2005.
 
In the first quarter 2006 imports rose by 4.3% to $11.32 billion from $10.85 billion.
 
Israel’s trade deficit for the whole 2006 will, according to the CBS rise 20% or $1.55 billion to $9.3 billion.
 
The export of goods fell in January-March by 2.7% to $9.24 billion, compared with $9.5 billion in the parallel period in 2005.
 
In the diamond sector, diamond imports totaled $2 billion in January-March, down 9% from $2.2 billion in the parallel months of last year.
 
Diamond exports totaled $2.7 billion in January-March, down 7% from $2.9 billion in the parallel period last year.