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Israel March Visible Trade Deficit Narrows

Israel's merchandise trade deficit decreased from the previous month in March, data released by the Central Bureau of Statistics showed Monday.

The trade deficit narrowed to ILS5.30 billion in March from ILS7.07 billion in February. In March 2011, the trade balance was a deficit of ILS3.22 billion.

Export of goods increased to ILS18.69 billion in March from ILS15.80 billion in February. The value of exports, excluding ships, aircraft and diamonds, was ILS15.39 billion during the month.

Total imports advanced to ILS23.99 billion from ILS22.87 billion in the previous month. Merchandise arrivals, excluding ships, aircraft, diamonds and fuels, was ILS15.87 billion in March.

The agency said that the development of trade, compared with February, was influenced by changes in the value of the ILS against other currencies in which import and export transactions are conducted.

According to trend data, Israel's trade deficit climbed to ILS20.6 billion in the January-March period from ILS10.3 billion in the same period last year. Exports decreased 5.6 percent annually during the period, while imports continued to grow.

by RTTNews Staff Writer

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