Israel's trade deficit widens in August

Israel’s trade deficit widens in August

In August, Israel's trade deficit rose by 2.4-fold from a year earlier to $1.6 billion, the Central Bureau of Statistics reported. The increase in trade deficit mainly grew out from the 30% rise recorded in imports. Imports amounted to $3.89 billion in August. Israel's trade gap was 4.3 times higher than the July deficit due to sharp fluctuations in foreign trade, which was affected by the ports strike. Exports were recorded as $2.29 billion in August, down by 12% compared to $2.6 billion registered in July. In January-August 2004 period, trade gap reached $4.66 billion with a rise of 12% compared to the corresponding period of last year. Imports were recorded as $26.3 billion in the first eight months of the year with a rise of 21% from a year earlier while exports were up by 19% to $21.7 billion.