Palestine's trade deficit widened to USD 376.1 million in February 2019 from USD 339.6 million in the same month of the previous year. Imports went up 6 percent year-on-year to USD 459.8 million. Purchases from Israel represented 59 percent of total imports in February. Meantime, exports plunged 13 percent from a year ago to USD 83.7 million. Sales to Israel accounted for 89 percent of total exports. Considering the first two months of the year, the trade deficit widened to USD 796.1 million from USD 722.9 million in the same period of 2018. Balance of Trade in Palestine averaged -257.49 USD Million from 2001 until 2019, reaching an all time high of -66.79 USD Million in April of 2002 and a record low of -429.10 USD Million in March of 2011.

Balance of Trade in Palestine is expected to be -382.46 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 Palestine to stand at -381.66 in 12 months time. In the long-term, the Palestine Balance of Trade is projected to trend around -381.70 USD Million in 2020, according to our econometric models.

Palestine Balance of Trade
Forecast Data Chart
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Calendar GMT Actual Previous Consensus TEForecast
2019-01-24 09:25 AM Balance of Trade $-398.8M $-409.6M
2019-02-20 07:35 AM Balance of Trade $-395.2.8M $-398.8M
2019-03-25 08:00 AM Balance of Trade $-420M $-395.2M $-425M
2019-04-22 02:00 AM Balance of Trade $-376.1M $-420M $-395M
2019-05-23 08:40 AM Balance of Trade $-376.1M $-380.7M
2019-06-26 06:20 AM Balance of Trade
2019-07-21 07:00 AM Balance of Trade

Palestine Trade Last Previous Highest Lowest Unit
Balance of Trade -376.10 -420.00 -66.79 -429.10 USD Million [+]
Current Account -399.00 -444.70 764.40 -1516.00 USD Million [+]
Current Account to GDP -10.80 -14.50 -8.10 -34.95 percent [+]
Exports 83.70 82.70 100.20 15.92 USD Million [+]
Imports 459.80 502.70 508.00 82.71 USD Million [+]
Foreign Direct Investment 2723.00 2705.00 2791.00 892.90 USD Million [+]
Terrorism Index 5.33 5.55 6.06 4.09 [+]
Tourist Arrivals 503.00 400.00 556.00 33.00 Thousand [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category

Palestine Balance of Trade

Palestine reports chronic trade deficits due to the territories' inability to access key resources and because of the mobility restrictions imposed by Israel. Palestine mainly exports cement, base metals, iron and steel, food and beverages, furniture, plastics and dairy products. Palestine mainly imports oil, food, vegetables, machinery, metals, vehicles, chemicals, livestock, beverages and salt. Palestine's main trading partner is Israel (accounting for around 74 percent of total trade). Other trading partners include China, Turkey, Germany, Italy and France. . This page provides the latest reported value for - Palestine Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Palestine Balance of Trade - actual data, historical chart and calendar of releases - was last updated on April of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-376.10 -420.00 -66.79 -429.10 2001 - 2019 USD Million Monthly

Country Last Previous
Argentina 1183.00 Mar/19
Australia 4801.00 Feb/19
Brazil 4990.00 Mar/19
Canada -2894.80 Feb/19
China 326.71 Mar/19
Euro Area 17938.00 Feb/19
France -4002.00 Feb/19
Germany 17900.00 Feb/19
India -10890.00 Mar/19
Indonesia 540.20 Mar/19
Italy 3267.83 Feb/19
Japan 528.50 Mar/19
Mexico 1429.00 Mar/19
Netherlands 5130.00 Feb/19
Russia 15671.00 Feb/19
Saudi Arabia 180059.00 Dec/18
Singapore 3615.50 Mar/19
South Africa 3990.00 Feb/19
South Korea 5222.00 Mar/19
Spain -2627773.00 Feb/19
Switzerland 2494.00 Mar/19
Turkey -2134.33 Feb/19
United Kingdom -4860.00 Feb/19
United States -49382.00 Feb/19