Israel: Merchandise exports decrease at sharper pace in July
Merchandise exports dived 16.7% on an annual basis in July, on the heels of June’s 4.2% decrease, as external demand remained tepid. Meanwhile, merchandise imports plummeted 18.9% on an annual basis in July (June: -9.3% yoy), potentially due to the re-imposition of some lockdown measures in the month. As a result, the merchandise trade balance deteriorated, recording a USD 2.3 billion deficit in July (June: USD 1.5 billion deficit). Lastly, the trend pointed up, with the 12-month trailing merchandise trade balance recording a USD 21.4 billion deficit in July, compared to the USD 22.1 billion deficit in June.