In August 2014, import of goods totaled NIS 21.0 billion, export of goods totaled NIS 13.1 billion and the trade deficit in goods totaled NIS 7.9 billion
January- August 2014- Export of goods as percentage of imports (excluding ships, aircraft and diamonds) constituted 74.0% compared to 74.6% at the same period in 2013.
Trade deficit (goods only) in the first eight months of the year totaled NIS 4.5 billion per month, NIS 53.9 billion in annual terms. (NIS 51.3 billion in 2013 and NIS70.4 billion in 2012).
Import of goods (excluding ship, aircraft, diamonds and fuels) decreased by 7.0% at an annual rate in June-August 2014, according to trend data continuing a decrease of 4.1% in March-May 2014.
Export of goods (excluding ships, aircraft and diamonds) decreased by 14.2% at an annual rate according to trend data, continuing a decrease of 13.0% in March- May 2014.
Trade in goods in August 2014 was influenced by changes in the value of the NIS against other currencies in which import and export transactions are conducted.
Import of Goods
Import of goods, in August 2014, totaled – as mentioned – NIS 21.0 billion. 38% of total imports were import of raw materials (excluding diamonds and fuels); 19% were consumer goods; 13% were machinery, equipment and land vehicles for investment; and 30% diamonds, fuels, ships and aircraft.
Trend data of imported raw materials (excluding diamonds and fuels) decreased by 9.5%, in June- August 2014, at an annual rate continuing a decrease of 2.4% in March- May 2014. A breakdown by groups of import of raw materials shows that import of iron and steel products decreased by 17.8% at an annual rate, import of chemicals decreased by 11.7% at an annual rate and import of rubber and plastic products decreased by 11.0% at an annual rate. In contrast, import of raw food products increased by 22.4% at an annual rate (1.7% monthly average).
Trend data of import of investment goods (excluding ships and aircraft) decreased by 6.3%, at an annual rate, in June-August 2014 continuing a decrease of 13.5% in March-May 2014. A breakdown by groups points that import of machinery and equipment (60% of investment imports) point to a decrease of 11.8% at an annual rate. Import of vehicles for investment point to a decrease of 7.1%, at an annual rate.
Trend data of import of consumer goods decreased by 1.0% at an annual rate in June-August 2014, after an increase of 1.0% in March- May 2014.
Import of non-durable goods (medicines, food and beverages, and clothing and footwear) decreased by 4.2% at an annual rate, in the last three months. Most of the decrease was recorded in import of medicine category -19.7% at an annual rate.
Import of durable goods (furniture, electrical equipment and transport equipment) decreased by 1.5%, at an annual rate, in June-August 2014.
Import of diamonds (net, rough and polished) in January-August 2014 totaled NIS 19.3 billion.
Import of fuels (crude oil, distillates and coal) in January-August 2014 totaled NIS 32.3 billion, a decrease of 12.5% compared to the same months of the previous year.
Export of Goods
Export of goods totaled in August 2014 NIS 13.1 billion. Manufacturing, mining and quarrying exports (excluding diamonds) constituted 87% of all export of goods. Export of diamonds constituted 12%, and the remaining were agriculture, forestry and fishing exports.
Trend data of manufacturing, mining and quarrying exports point to a drop of 14.3%, at an annual rate, in June - August 2014, continuing a decrease of 11.9% in March-May 2014.
Trend data of manufacture exports, by technological intensity - Trend data of exports by high technology industries (42% of total manufacture exports) decreased by 16.4%, at an annual rate, in June- August 2014, continuing a decrease of 17.0% in March-May 2014. Breakdown by economic activity shows that export of pharmaceutical products decreased sharply.
Trend data of exports by medium-high technology industries (38% of total manufacture exports) decreased by 5.8%, at an annual rate, in June- August 2014, continuing a decrease of 7.0% in March- May 2014. Breakdown by economic activity shows that export of chemicals and its products point a decrease of 16.4% at an annual rate.
Trend data of exports by medium-low technology industries (13% of total manufacture exports) point to a drop of 31.5% at an annual rate (-3.1 monthly average), in the last three months continuing a decrease of 14.3%, in March-May 2014.
Trend data of exports by low technology industries (7% of total manufacture exports) decreased by 13.1% at an annual rate, in June-August 2014 continuing a decrease of 5.9% in March-May 2014.
Breakdown by economic activity shows that export of manufacture of food products beverages and tobacco products decreased by 19.4% at an annual rate. Export of manufacture of textile, wearing apparel, leather and related products decreased by 13.2% at an annual rate.
Export of diamonds (net, polished and rough), in January- August 2014, totaled NIS 22.6 billion.
Agricultural, forestry and fishing exports in January-August 2014 totaled NIS 3.4 billion (original data) a decrease of 12.8% compared to the same period in 2013. Export of fruits (excluding citrus) decreased by 23.1% in the same period.
