22.Jan .2021 23:00

Trade Deficit Of Israel Increased By 6.1% In 2020

Trade Deficit Of Israel Increased By 6.1% In 2020
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In 2020, exports of goods (gross) from Israel decreased by US$ 11,241,240,432 (NIS 36.8 billion) (-17.6%) compared with 2019 and totaled US$ 52,505,325,090 (NIS 171.9 billion).

Imports of goods (gross) totaled US$ 73,428,040,440 (NIS 240.4 billion), a decrease of US$ 10,049,824,820 (NIS 32.9 billion) (-12.0%) compared with 2019. The trade deficit (gross) totaled US$ 20,924,407,300 (NIS 68.5 billion), an increase of 6.1% compared with 2019.
 
According to the Central Bureau of Statistics of Israel, in 2020, exports of goods to the EU Countries constituted 29.3% of the total exports of goods (29.7% in 2019) and imports of goods from the EU Countries constituted 38.7% of the total imports of goods (36.1% in 2019). Exports to the EU Countries decreased by 18.6% or US$ 3,512,845,200 (NIS 11.5 billion), imports from the EU Countries decreased by 5.6% or US$ 1,680,056,400 (NIS 5.5 billion) and the trade deficit in goods with the EU Countries increased by 16.4% compared with 2019.
 
Exports of goods to the USA constituted 26.1% of the total exports of goods (27.3% in 2019) and imports of goods from the USA constituted 12.3% of the total imports of goods (15.3% in 2019).
 
Exports to the USA decreased by 21.1% or US$ 3,665,600,400 (NIS 12.0 billion), imports to the USA decreased by 29.1% or US$ 3,726,693,740 (NIS 12.2 billion) and the trade surplus in goods with the USA increased by 0.9% compared with 2019.
 
Exports of goods to the Asian Countries constituted 22.6% of the total exports of goods (23.0% in 2019) and imports of goods from the Asian Countries constituted 25.2% of total imports of goods (22.6% in 2019). Exports to the Asian Countries decreased by 19.0% (NIS 9.1 billion), imports from the Asian Countries decreased by 1.8% or US$ 336,007,980 (NIS 1.1 billion) and the trade deficit with the Asian Countries in goods increased from US$ 4,184,826,660 (NIS 13.7 billion) in 2019 to US$ 6,628,521,060 (NIS 21.7 billion) in 2020.
 
Exports of goods to Other Countries constituted 21.9% of the total exports of goods (20.1% in 2019) and imports of goods from Other Countries constituted 23.7% of the total imports of goods (26.0% in 2019).
 
Trade in goods in 2020 was influenced by changes in the prices of goods and in the exchange rates of the NIS against other currencies.
Trade in Diamonds
 
In 2020, exports of diamonds (gross) totaled US$ 5,650,837,950 (NIS 18.5 billion), a decrease of 54.1% compared with 2019. The main destinations for diamonds were USA (51%), Hong Kong (13%), Belgium (11%), India, Switzerland and United Kingdom.
 
Imports of diamonds (gross) totaled US$ 3,940,314,030 (NIS 12.9 billion), a decrease of 22.9% compared with 2019. The main countries of import for diamonds were USA (23%), Belgium (22%), India (14%), Hong Kong, Russian Federation and Switzerland.