In January 2014, import of goods totaled NIS 21.5 billion, export of goods totaled NIS 17.5 billion and the trade deficit in goods totaled NIS 4.0 billion.
Export of goods as percent of imports (excluding ships, aircraft and diamonds) constituted 70.8% compared to 68.9% at the same period in 2013.
Export of goods (excluding ships, aircraft and diamonds) point to a rise of 7.2% at an annual rate, continuing an increase of 7.0% in August-October 2013.
Import of Goods
Import of goods, in January 2014, totaled – as mentioned – NIS 21.5B. A breakdown of the data of imports by economic use indicates that in January 2014, 37% of total imports were import of raw materials (excluding diamonds and fuels); 17% were consumer goods; 14% were machinery, equipment and land vehicles for investment; and 32% diamonds, fuels, ships and aircraft.
Trend data of imported raw materials (excluding diamonds and fuels) point to a rise of 3.7%, in November 2013-January 2014, at an annual rate continuing an increase of 0.4% in August-October 2013. A breakdown by groups of import of raw materials shows that import of inputs for agriculture increased by 14.1% at an annual rate.
Slowdown was recorded in trend data of import of investment goods (excluding ships and aircraft) that rose 18.0%, by an annual rate, in November 2013-January 2014 continuing an increase of 33.0% (2.4% monthly average) in August-October 2013. A breakdown by groups points that import of machinery and equipment (67% of investment imports) rose 21.8%, at an annual rate, in the last three months (1.7% monthly average). Imports of vehicles for investment point to a decrease of 1.1% at an annual rate, in the same period.
Trend data of import of consumer goods rose by 1.1% at an annual rate in November 2013-January 2014, continuing an increase of 3.6% in August-October 2013. Imports of non-durable goods increased by 7.2% an annual rate of in the last three months. Most of the decrease was recorded in import of food and beverages category (10.2% at an annual rate). Import of durable goods point to a drop of 9.8%, at an annual rate, in November 2013-January 2014.
Import of diamonds (net, rough and polished) in January 2014 totaled NIS 2.1B. During the same month in 2013 the import of diamonds totaled NIS 1.8B.
Import of fuels (crude oil, distillates and coal) in January 2014 totaled NIS 4.9B an increase of 16.9% compared to the same month of the previous year.
Export of Goods
Export of goods in New Israel Shekels (NIS) totaled in January 2014 – as mentioned – NIS 17.5B.
In January 2014, manufacturing exports (excluding diamonds) constituted 76% of all export of goods. Export of diamonds constituted 21%, and the remaining 3% were agriculture, forestry and fishing exports.
Trend data of manufacturing, mining and quarrying exports rose by 8.6%, at an annual rate, in November-January 2014, continuing an increase of 7.1% in August-October 2013.
Trend data of exports by high technology industries (44% of total manufacture exports) increased 19.4%, at an annual rate, in November 2013-January 2014, continuing an increase of 40.4% in August-October 2013 (2.9% monthly average). Breakdown by economic activity shows a rise in export of manufacture of pharmaceutical products and in export of manufacture of electronic components and boards.
Trend data of exports by medium-high technology industries (38% of total manufacture exports) point to a rise of 12.5%, at an annual rate, in November 2013-January 2014, after a decrease of 6.5% in August-October 2013. Breakdown by economic activity shows that export of chemicals and its products rose by 24.3% at an annual rate (1.8% monthly average).
Trend data of exports by medium-low technology industries (11% of total manufacture exports) point to a drop of 32.8% at an annual rate, (-3.3% monthly average), in the last three months continuing a decrease of 32.1%, (-3.2% monthly average), in August-October 2013. Breakdown by economic activity shows a drop in export of manufacture of fabricated metal products.
Trend data of exports by low technology industries (7% of total manufacture exports) increased by 2.4% at an annual rate, in November 2013-January 2014 after a decrease of 3.4% in August-October 2013. Breakdown by economic activity shows that export of manufacture of fine jewellery and imitation jewellery and related products rose by 11.3% at an annual rate.
Export of diamonds (net, polished and rough), in January 2014, totaled NIS 3.7B (NIS 4.0B in January 2013).
Agricultural, forestry and fishing exports in January 2014 totaled NIS 0.6B (original data), point to a decrease of 10.1% compared to the same period in 2013.
