Israel's trade deficit decreased to USD 1,133.9 million in May of 2020 from USD 1,721 million in the corresponding month of the previous year. This was the smallest monthly trade shortfall since last November, amid the lingering effects of Covid-19. Imports slumped 18.7 percent to USD 4,754.8 million while exports declined at a softer 12.3 percent to USD 3,620.9 million. Considering the January to May period, the country’s trade gap narrowed to USD 7,790 million from USD 8,753.6 million in the corresponding period of 2019.
Balance of Trade in Israel averaged -515.86 USD Million from 1959 until 2020, reaching an all time high of 113.80 USD Million in May of 2009 and a record low of -3085.80 USD Million in December of 2019. This page provides - Israel Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Israel Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020.
Balance of Trade in Israel is expected to be -1960.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Israel to stand at -2080.00 in 12 months time. In the long-term, the Israel Balance of Trade is projected to trend around -2160.00 USD Million in 2021, according to our econometric models.