CBS: trade deficit widened due to higher fuel prices

The Central Bureau of Statistics ( CBS) reported last week that global fuel prices widened Israel’s trade deficit by 39% in the nine months period, January-September 2005, to $6.19 billion, compared with $4.46 billion in the corresponding period of last year.
 
In its periodic report the CBS reported that in January-September Israel spent $5.2 billion on fuel and energy imports, $2 billion more than in the parallel period of last year, an increase of 63%.
 
The CBS noted that due to the high costs of fuel, imports of goods rose in the nine months period by 14.7% to $33.72 billion, $4.34 billion more than during the parallel period last year.
On the other side of the balance sheet exports of goods were up by 10.5% to $27.53 billion, $2.62 billion more than during the parallel period last year.
 
In September 2005 Israel’s trade deficit was $905 million, 2.4 times the $373 million deficit in September 2004. Exports totaled $3.19 billion, and imports totaled $4.1 billion.