Israel Sees Shift in Trade Dynamics: Key Trends 2024

Israel's Central Bureau of Statistics reveals a 0.5% rise in trade terms while export and import indices show mixed trends in 2024. Import prices for fuels and diamonds decreased, while investment goods rose. Export of tech products noted a positive index change by 4.1%.

In 2024, Israel experienced noteworthy shifts in its trade dynamics, as per the latest data from its Central Bureau of Statistics. The terms of trade index, excluding significant categories like ships, aircraft, fuels, and diamonds, rose by 0.5%. Notably, the export price index climbed by 0.1%, a recovery after a 2.7% downturn in 2023.

Import prices reflected a 1.3% decline, marking a continued decrease from the previous year's 3.6%. The sectors seeing price drops included fuels at 4.7%, diamonds at 1.8%, and raw materials at 1.5%, with consumer goods slipping by 0.6%. Conversely, the import of investment goods surged by 1.2%.

Highlighting technological advancement, the export price index for computer, electronic, and optical products jumped by 4.1%. However, the comprehensive export price index faced a 0.2% dip. Amidst these complexities, the decline in import costs persisted, reflecting a nuanced trade environment for Israel.

(With inputs from agencies.)