Trade gap doubles from year ago

Imports boosted by rise in fuel, chemical, consumer goods.

By DANIEL KENNEMER
February 14, 2006 07:00
1 minute read.
inflation arrow up 88

inflation arrow up 88. (photo credit: )

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later

Israel's trade deficit (excluding services) expanded to $877.8 million in January, 7.1 percent wider than in December and double last January's $438.5m., according to figures released Monday by the Central Bureau of Statistics. Growth in exports of agricultural produce and manufactured goods were offset by a drop in exports of raw and polished diamonds, while imports were boosted by rises in fuel, chemical and consumer goods. The bureau partially attributed the widening of the trade gap in January to fluctuations in the exchange rates of world currencies. In seasonally-adjusted terms, the trade deficit widened 47% against January 2005 to $918.3m. from $623.6m., while trend data indicated relative stability in the deficit, reflected in a mere 2.5% rise to $217.2m. this January. Exports of goods sank just under 0.1% to $3.03 billion in January, from $3.06b. the same month last year, bogged down by diamond exports (raw and polished), which fell 10.5% to $886.1m. Excluding ships, aircraft and diamonds, exports rose nearly 3.7%. Industrial exports rose 3.1% to $2.01b. from $1.95b. and agricultural exports grew 7.2% to $122.8m. from $114.5m., while "other" exports jumped nearly five-fold to $9.2m. in January from $1.9m. the year before. The value of imported goods rose almost 11.8% to just under $3.91b. from $3.49b. in January 2005. Fuel imports alone accounted for more than one-third of the rise, jumping to $592.3m. from $447.8m. one year before, while chemical imports accounted for one sixth of the rise, expanding to $322.1m. from $254.2m. Consumer imports accounted for nearly one quarter of the growth in total imports; durable goods imports rose 34%, to $223.7m. in January from $166.9m. one year before, with imports of transport equipment nearly doubling, to $110.7m. from $59m. Imports of non-durable goods, such as clothing and footwear, food, beverages, medicines, and household wares, rose 16% to $276m., against $237.9m. in January 2005. Rises in most import categories were tempered somewhat by falls in diamonds (down 9.7% to $640.2m.) and precious metals (down 31.3% to $12.5m.).

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

The Teva Pharmaceutical Industries
April 30, 2015
Teva doubles down on Mylan, despite rejection

By GLOBES, NIV ELIS