Israel: Merchandise exports slide at a more moderate rate in August
Merchandise exports shrank 8.3% over the same month last year in August, on the heels of July’s 13.7% plunge, amid still-tepid demand abroad. Meanwhile, merchandise imports slid 5.2% over the same month last year in August (July: -18.9% yoy), marking the best result since February 2020. As a result, the merchandise trade balance was stable, recording a USD 2.2 billion shortfall in August (July: USD 2.2 billion). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 21.3 billion deficit in August, compared to the USD 21.3 billion deficit in July.