Exports account for more than 40% of Israel's economic activity
Photo: Avishag Shaar Yashuv
Foreign trade deficit narrows to $1.04B
On seasonally adjusted basis, Israel's trade deficit in February, excluding ships, aircraft and diamonds, was $1.3 billion
Israel's
foreign trade deficit narrowed to $1.04 billion in February from $1.81 billion a year earlier but widened from $1.01 billion in January, the Central Bureau of Statistics says.
Troubling Numbers
Navit Zommer
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On a seasonally adjusted basis, Israel's trade deficit excluding ships, aircraft and diamonds, in February was $1.3 billion.
For the first two months of the year, Israel posted a trade deficit of $2.05 billion, compared with $3.89 billion a year earlier.
Exports account for more than 40% of Israel's economic activity. The economy grew 3.1% in 2012 after a 4.6% spurt in 2011 partly due to weaker exports stemming from a global economic slowdown.
In 2012, Israel's trade deficit swelled to $18.25 billion from $14.62 billion.
