The Central Bureau of Statistics (CBS) reported last week that Israel's trade deficit reached the level of $2.4 billions in 2005. According to the CBS in 2005 exports of goods totaled $42.6 billion, ( $26.6 billion, excluding diamonds).
Imports of goods, however, amounted to $44.9 billion, ($35.3 billion excluding diamonds).
The CBS noted that 27% of the increase in Israel’s imports, excluding diamonds, amounting to $943 million, was from Asian countries, and 13% was from the European Union.
The CBS also noted that 46% ($860 million) of the rise in Israel’s exports, excluding diamonds, was to the European Union, and 36%, ($671 million), was to the US.
Israel enjoyed in 2005 trade surplus with the US rising from $1.5 billion in 2004 to $2.3 billion in 2005, a 53% rise.
Trade deficit with Asian countries was up 56% to $2.4 billion & Israel’s trade deficit with the EU, excluding diamonds, fell from $4.4 billion in 2004 to $4 billion in 2005.
The CBS pointed out that in 2005 the US accounted for 28% of total Israeli exports and 15% of imports while the EU accounted for 34% of the Israel’s exports and 37% of its imports. Asian countries accounted for 15% of Israeli exports and 18% of imports.
The Central Bureau of Statistics also reported last week that in 2005 the inflation rate was 2.4%, or twice that of the inflation rate experienced in 2004 the CBS noted however that the annual Consumer Price Index (CPI) for 2005 was within the official government target range of 1-3%.
