Israel: Merchandise exports grow at a milder rate in July
Merchandise exports climbed 7.7% on an annual basis in July, following June’s 29.2% jump. July’s figure marked the weakest increase since September 2021. Meanwhile, merchandise imports jumped 17.4% over the same month last year in July (June: +16.9% yoy).
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 4.0 billion shortfall in July (June 2022: USD 3.0 billion deficit; July 2021: USD 3.0 billion deficit). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 40.8 billion deficit in July, compared to the USD 39.9 billion deficit in June.