Data release by the Israeli Central Bureau of Statistics (CBS), show that in February 2015, import of goods totaled NIS 18.5 billion, export of goods totaled NIS 19.1 billion and the trade surplus in goods, totaled NIS 0.6 billion.
February 2015
Export of goods as percent of imports (excluding ships, aircraft and diamonds) constituted 89.0% compared to 76.3% at the same period in 2014
Trade surplus (goods only) in January-February totaled NIS 1.7 billion compared to NIS 3.9 billion deficit in January-February 2014.
Import of goods (excluding ship, aircraft, diamonds and fuels) increased by 11.4% at an annual rate in December 2014-February 2015, according to trend data, continuing an increase of 14.1% in September- November 2014.
Export of goods (excluding ships, aircraft and diamonds) increased by 11.6% at an annual rate, according to trend data, continuing an increase of 20.9% in September-November 2014 (1.6% monthly average).
Trade in goods in February 2015 was influenced by changes in the value of the NIS against other currencies in which import and export transactions are conducted.
In February 2015, the NIS strengthened compared the US Dollar by 1.4%, after six consecutive months in which the NIS weakened against the US Dollar. Compared to the Euro the NIS strengthened by 3.7%, compared to the Sterling Pound strengthened by 0.3%, compared to the Japanese Yen the NIS strengthened by 1.7% and compared to the Swiss Franc weakened by 1.4%.
Import of Goods
Import of goods, in February 2015, totaled NIS 18.5 billion. 41% of total imports were import of raw materials (excluding diamonds and fuels); 20% were consumer goods; 13% were machinery, equipment and land vehicles for investment; and 26% diamonds, fuels, ships and aircraft. Trend data of imported raw materials (excluding diamonds and fuels) increased by 8.1%, in December 2014-February 2015, at an annual rate continuing an increase of 13.3% in September –November 2014. A breakdown by groups points that import of iron and steel products increased by 20.2% in, at an annual rate (1.5% monthly average).
Import of inputs for machine and electronic manufacturing increased by 15.9% in at an annual rate, and import of wood and it products increased by 9.5% at an annual rate. In contrast, import of inputs for paper industries decreased by 6.7% at an annual rate.
Trend data of import of investment goods (excluding ships and aircraft) increased by 20.0%, at an annual rate, in December 2014-February 2015 continuing an increase of 12.1% in September-November 2014. A breakdown by groups points that import of machinery and equipment (69% of investment imports) point to an increase of 10.1% at an annual rate. Imports of vehicles for investment point to an increase of 42.7%, at an annual rate (3.0% monthly average).
Import of consumer goods continue to grow in December 2014- February 2015 but in a slower rate.
Trend data of import of consumer goods increased by 9.1% at an annual rate in December 2014- February 2015, continuing an increase of 15.8% in September -November 2014. Import of durable goods (furniture, electrical equipment and transport equipment) increased by 11.7%, at an annual rate, in December 2014-February 2015.
Import of non-durable goods (medicines, food and beverages, and clothing and footwear) increased by 6.4% at an annual rate, in the last three months. Most of the increase was in import of medicines (8.9%).
Import of diamonds (net, rough and polished) in January-February 2015 totaled NIS 3.7 billion compared to NIS 4.4 billion in the same period of 2014.
Import of fuels (crude oil, distillates and coal) in January-February 2015 totaled NIS 5.0 billion, a decrease of 43.7% compared to the same months of the previous year.
Export of Goods
Export of goods totaled NIS 19.1 billion in February 2015. Manufacturing, mining and quarrying exports (excluding diamonds) constituted 72% of all export of goods. Export of diamonds constituted 26%, and the remaining 2% were agriculture, forestry and fishing exports.
Trend data of manufacturing, mining and quarrying exports point to an increase of 13.8%, at an annual rate, in December 2014-February 2015, continuing an increase of 22.3% in September –November 2014 (1.7% monthly average).
Trend data of manufacture exports, by technological intensity
Trend data of exports by high technology industries (56% of total manufacture exports) increased by 52.1%, at an annual rate, in December 2014-February 2015 (3.5% monthly average), continuing an increase of 51.7% in September-November 2014 (3.5% monthly average). Breakdown by economic activity shows that most of the activities increased sharply.
Trend data of exports by medium-high technology industries (28% of total manufacture exports) decreased by 10.1%, at an annual rate, in December 2014-February 2015, after an increase of 8.3% in September-November 2014. Breakdown by economic activity shows that export of manufacture of chemicals and products decreased by 15.3% at an annual rate.
Trend data of exports by medium-low technology industries (10% of total manufacture exports) point to drop of 21.9% at an annual rate (-2.0% monthly average), in the last three months continuing a decrease of 9.0%, in September-November 2014. Breakdown by economic activity shows that export of manufacture of basic metal products decreased by 10.6% at an annual rate.
Trend data of exports by low technology industries (6% of total manufacture exports) increased by 2.2% at an annual rate, in December 2014-February 2015 continuing an increase of 13.0% in September- November 2014.
Export of diamonds (net, polished and rough), in January-February 2015, totaled NIS 9.1 billion.
Agricultural, forestry and fishing exports in January-February 2015 totaled NIS 1.0 billion (original data) a decrease of 27.5% compared to the same period in 2014. Export of fruits (excluding citrus) decreased by 41.2% in the same period.
