Photo: GPO
Sharp increase in trade deficit, slight rise in exports
Photo: GPO

Israel's trade deficit up 34.6% in 2012

Central Bureau of Statistics has reports 0.2% increase in export of goods, 7.1% rise in imports

Israel's trade deficit recorded a 34.6% increase in 2012, the Central Bureau of Statistics has reported.


A slight rise of 0.2% was recorded in the export of goods, compared to a 7.1% increase in the import of goods.


The last quarter of 2012 saw a 10.1% drop in the export of goods and a 17.8% decline in the import of goods.


On Sunday, the Finance Ministry posted a budget deficit of NIS 39 billion (about $10.5 billion) for 2012, making up 4.2% of gross domestic product – double the government target.


Israel's economy grew an estimated 3.3% in 2012, its slowest pace in three years due to scant export growth, but still outperformed many other developed countries.


Growth slowed from a 4.6% spurt in 2011, mainly due to recessions in Europe, Israel's largest trading partner, weak growth in the United States and slower growth in Asia.


Reuters contributed to this report



פרסום ראשון: 01.18.13, 07:49
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