Israel Balance of Trade

Last Release

Nov 30, 2024

Actual

-2,684.5

Units In

USD Million

-3,117.8

Frequency

Monthly

Next Release

Jan 13, 2025

Time to Release

24 Days 13 Hours

Highest	Lowest	Average	Date Range	Source
113.8 May 2009	-5,146.6 May 2022	-663.13 USD Million	1959-2024	N/A

Israel has been recording trade deficits since 1959 mostly due to a lack of natural resources. Indeed, Israel major imports are: oil and other mineral fuels and uncut diamonds. Main exports are: cut diamonds, pearls and other precious metals and stones; electrical machinery and equipment, mechanical machinery and appliances and electronics. Israel´s main trading partner is the United States (28 percent of total exports and 12 percent of imports). Others include: Hong Kong, China, Belgium, Netherlands, Germany and United Kingdom.

Latest Updates

Israel’s trade deficit widened to USD 2.68 billion in November 2024 from 2.04 billion in the same month last year, as imports rose much faster than exports. Imports climbed 15.7% year-on-year to USD 7.45 billion, mainly driven by increased purchases of consumer goods (45.7%), raw materials (8.7%), and investment goods (22.4%). Meanwhile, exports rose 8.2% to USD 4.77 billion, primarily due to higher sales of agriculture, forestry & fishing (11.8%) and manufacturing, mining & quarrying, excluding diamonds (9.3%).