Palestine's trade deficit widened to USD 595.6 million in March of 2022 from USD 391.6 million in the same month of the previous year. It was the largest trade deficit since the series began in 2001, as exports grew 2 percent from a year earlier to USD 116.6 million, while imports increased at a much faster 41 percent to USD 712.2 million ahead the fasting month of Ramadan. source: Palestinian Central Bureau of Statistics

Balance of Trade in Palestine averaged -274.42 USD Million from 2001 until 2022, reaching an all time high of -66.79 USD Million in April of 2002 and a record low of -491.80 USD Million in October of 2021. 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 - data, historical chart, forecasts and calendar of releases - was last updated on May of 2022.

Balance of Trade in Palestine is expected to be -410.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Palestine Balance of Trade is projected to trend around -415.00 USD Million in 2023 and -438.00 USD Million in 2024, according to our econometric models.

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Palestine Balance of Trade

Calendar GMT Actual Previous Consensus TEForecast
2022-04-25 09:30 AM Feb $-466.6M $-485.5M
2022-05-23 06:00 AM Mar $-595.6M $-466.6M $ -393M
2022-06-23 08:00 AM Apr $-595.6M

Related Last Previous Unit Reference
Balance of Trade -595.60 -466.60 USD Million Mar 2022
Current Account -390.00 -316.00 USD Million Dec 2021
Exports 116.60 123.70 USD Million Mar 2022
Imports 712.20 590.30 USD Million Mar 2022
Foreign Direct Investment 2886.00 2841.00 USD Million Sep 2021

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. .
Actual Previous Highest Lowest Dates Unit Frequency
-595.60 -466.60 -66.79 -595.60 2001 - 2022 USD Million Monthly