March 2005 - Trade gap up 8.9%

The Central Bureau of Statistics ( CBI ) reported last week that Israel's foreign trade deficit rose 8.9%, or $63 million in March 2005 to $774 million over March 2004, (66% higher than in February and 34% higher than in March 2004).
 
Exports in March totaled $3.2 billion, and imports totaled $4 billion. Imports was up by 8.7% to $10.83 billion in the first quarter, compared with $9.96 billion in the corresponding quarter of last year.
 
The CBI noted that exports in the first quarter rose by 8% to $9.15 billion, compared with $8.47 billion in the corresponding quarter of 2004. Imports in the first quarter rose by 8.7% to $10.83 billion, compared with $9.96 billion in the corresponding quarter of last year.
 
Diamond imports in the first quarter rose by 4.5% to $2.2 billion while diamond exports in the first quarter rose by 12% $2.8 billion . Imports of fuel and energy products rose by 40% to $1.4 billion, compared with $1 billion in the corresponding quarter of 2004. Agricultural exports rose by 10%.
 
Export growth of avocado and other fruits was strong - 82%, while exports of citrus fruits was up by 22%, and flowers by 19%. The CBI also noted that import of raw materials, which comprises 39% of all imports, was down 6.7%. Consumer goods imports was down 9.5%.