Palestine's trade deficit narrowed to USD 363 million in March 2019 from USD 370 million in the same month of the previous year. Imports fell 2 percent to USD 457 million, with purchases from Israel accounting for 58 percent of total imports. Meantime, exports decreased at a slower 1 percent to USD 93.8 million. Sales to Israel represented 84 percent of total exports. Considering the first quarter as a whole, the trade deficit widened to USD 1.16 billion from USD 1.09 billion in the same period of 2018. Balance of Trade in Palestine averaged -257.98 USD Million from 2001 until 2019, reaching an all time high of -66.79 USD Million in April of 2002 and a record low of -429.10 USD Million in March of 2011.

Balance of Trade in Palestine is expected to be -382.46 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 Palestine to stand at -381.66 in 12 months time. In the long-term, the Palestine Balance of Trade is projected to trend around -381.70 USD Million in 2020, according to our econometric models.

Palestine Balance of Trade
Forecast Data Chart
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Calendar GMT Actual Previous Consensus TEForecast
2019-02-20 07:35 AM Balance of Trade $-395.2.8M $-398.8M
2019-03-25 08:00 AM Balance of Trade $-420M $-395.2M $-425M
2019-04-22 02:00 AM Balance of Trade $-376.1M $-420M $-395M
2019-05-23 08:40 AM Balance of Trade $-362.9M $-376.1M $-380.7M
2019-06-26 06:20 AM Balance of Trade $-362.9M $-392M
2019-07-21 07:00 AM Balance of Trade $-402M
2019-08-22 04:15 AM Balance of Trade $ -361M

Palestine Trade Last Previous Highest Lowest Unit
Balance of Trade -362.90 -376.10 -66.79 -429.10 USD Million [+]
Current Account -399.00 -444.70 764.40 -1516.00 USD Million [+]
Current Account to GDP -10.80 -14.50 -8.10 -34.95 percent [+]
Exports 93.80 83.70 100.20 15.92 USD Million [+]
Imports 456.70 459.80 508.00 82.71 USD Million [+]
Foreign Direct Investment 2723.00 2705.00 2791.00 892.90 USD Million [+]
Terrorism Index 5.33 5.55 6.06 4.09 [+]
Tourist Arrivals 503.00 400.00 556.00 33.00 Thousand [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category

Palestine Balance of Trade

Palestine reports chronic trade deficits due to the territories' inability to access key resources and because of the mobility restrictions imposed by Israel. Palestine mainly exports cement, base metals, iron and steel, food and beverages, furniture, plastics and dairy products. Palestine mainly imports oil, food, vegetables, machinery, metals, vehicles, chemicals, livestock, beverages and salt. Palestine's main trading partner is Israel (accounting for around 74 percent of total trade). Other trading partners include China, Turkey, Germany, Italy and France. . This page provides the latest reported value for - Palestine Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Palestine Balance of Trade - actual data, historical chart and calendar of releases - was last updated on May of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-362.90 -376.10 -66.79 -429.10 2001 - 2019 USD Million Monthly

Country Last Previous
Argentina 1131.00 Apr/19
Australia 4949.00 Mar/19
Brazil 6060.00 Apr/19
Canada -3211.20 Mar/19
China 138.34 Apr/19
Euro Area 22532.90 Mar/19
France -5324.00 Mar/19
Germany 22683.00 Mar/19
India -15330.00 Apr/19
Indonesia -2501.90 Apr/19
Italy 4625.00 Mar/19
Japan 60.40 Apr/19
Mexico 1370.00 Apr/19
Netherlands 5330.00 Mar/19
Russia 15537.00 Mar/19
Saudi Arabia 180059.00 Dec/18
Singapore 2782.79 Apr/19
South Africa 5004.63 Mar/19
South Korea 4120.00 Apr/19
Spain -2352600.00 Mar/19
Switzerland 2494.00 Mar/19
Turkey -2136.73 Mar/19
United Kingdom -5408.00 Mar/19
United States -50000.00 Mar/19