Palestine's trade deficit widened sharply to USD 553.6 million in April of 2022 from USD 373.2 million in the same month of the previous year. It was the second-largest trade deficit since the series began in 2001, as exports fell 3 percent from a year earlier to USD 110.8 million whereas imports surged 36 percent to USD 664.4 million. source: Palestinian Central Bureau of Statistics

Balance of Trade in Palestine averaged -277.56 USD Million from 2001 until 2022, reaching an all time high of -66.79 USD Million in April of 2002 and a record low of -595.60 USD Million in March of 2022. 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 - data, historical chart, forecasts and calendar of releases - was last updated on July of 2022.

Balance of Trade in Palestine is expected to be -410.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Palestine Balance of Trade is projected to trend around -415.00 USD Million in 2023 and -438.00 USD Million in 2024, according to our econometric models.

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Palestine Balance of Trade

Calendar GMT Actual Previous Consensus TEForecast
2022-05-23 06:00 AM Mar $-595.6M $-466.6M $ -393M
2022-06-22 08:00 AM Apr $-553.6M $-595.6M
2022-07-26 01:00 AM May $-553.6M

Related Last Previous Unit Reference
Balance of Trade -553.60 -595.60 USD Million Apr 2022
Current Account -623.00 -390.00 USD Million Mar 2022
Exports 110.80 116.60 USD Million Apr 2022
Imports 664.40 712.20 USD Million Apr 2022
Foreign Direct Investment 3040.00 2976.00 USD Million Mar 2022

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. .
Actual Previous Highest Lowest Dates Unit Frequency
-553.60 -595.60 -66.79 -595.60 2001 - 2022 USD Million Monthly