The trade deficit in Israel rose sharply to USD 1,862.4 million in November of 2018 from USD 759.5 million in the corresponding month of the previous year. Exports fell 6.7 percent from a year earlier to USD 4,595.8 million while imports advanced 13.6 percent to USD 6,458.2 million. Considering the January to November period, the trade gap widened to USD 23,176.8 million from USD 13,128.2 million in the same period of 2017, as imports surged 18.5 percent to USD 72,989.6 million and exports slumped 14.8 percent to USD 49,812.8 million. Balance of Trade in Israel averaged -487.27 USD Million from 1959 until 2018, reaching an all time high of 113.80 USD Million in May of 2009 and a record low of -3346.30 USD Million in July of 2018.
Balance of Trade in Israel is expected to be -1227.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Israel to stand at -2256.00 in 12 months time. In the long-term, the Israel Balance of Trade is projected to trend around -1590.00 USD Million in 2020, according to our econometric models.