Israel: Merchandise exports fall in November
Merchandise exports sank 5.3% on an annual basis in November (October: +20.1% year-on-year), amid rising Covid-19 cases and new restrictions in key export markets such as the EU and U.S.. Meanwhile, merchandise imports jumped 5.1% in annual terms in November (October: -6.7% yoy), marking the best result since December 2019 and likely supported by the easing of the domestic lockdown.
As a result, the merchandise trade balance recorded a USD 1.4 billion deficit in November (October 2020: USD 1.4 billion deficit; November 2019: USD 0.9 billion deficit). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 20.2 billion deficit in November, compared to the USD 19.7 billion deficit in October.