The Central Bureau of Statistics ( CBS ) reported last week that the October trade deficit was more than double the monthly average of $520 million, reaching nearly $1.3 billion.
The CBS indicated that growth in imports, combined with a 3.7 percent drop in exports, led to the unexpected expansion.
October imports, excluding diamonds, totaled $3.6 billion while exports were under $2.6 billion.
The deficit for the first 10 months of the year stands at $6 billion, based on $33.3 billion in imports and $27.3 billion in exports.
The published figures show that industrial products made up 70% of October's export market, followed by diamonds at 27% and agricultural products at 3%.
High-tech exports, which account for nearly half of the industrial product sector, declined 6.4% over the past three months after having climbed 15.4 percent during the previous three months.
Diamond exports rose, according to the CBS, during the first 10 months by 19.7%, to $7.9 billion, while agricultural exports increased by 22.6%.
The CBS figures show that raw materials 38% and diamonds 37% accounted for the bulk of imports, followed by cars, transportation supplies, and consumer products. Diamond imports totaled $7.2 billion, up 22.5%.
