Israel Balance of Trade

Last Release

Dec 31, 2024

Actual

-4,294.9

Units In

USD Million

-2,800

Frequency

Monthly

Next Release

Feb 13, 2025

Time to Release

28 Days 9 Hours

Highest	Lowest	Average	Date Range	Source
113.8 May 2009	-5,146.6 May 2022	-667.86 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 sharply to USD 4.29 billion in December 2024 from USD 2.46 billion in the same month last year, as imports rose much faster than exports. Year-on-year, imports jumped 25.8% to USD 9.55 billion, mainly driven by increased purchases of consumer goods (41.5%), raw materials (33%), and investment goods (32.5%). Meanwhile, exports rose at a softer 2.4% to USD 5.25 billion, primarily due to higher sales of agriculture, forestry & fishing (14.7%) and manufacturing, mining & quarrying, excluding diamonds (1.4%).