Due to the war between Israel and Hamas, both the country’s imports and exports have decreased since 2022, according to Israel’s Central Bureau of Statistics, which has released data on the country’s foreign trade for 2023. It has been reported that trade in Israel has been disrupted due to the war between Israel and Hamas that started on October 7 last year.
The trade deficit (goods only) has
declined by 14.1 percent in 2023. Exports of goods fell by 2.4 percent. Exports of medium-low technology industries fell by 9.1 percent. Imports of goods declined by 6.7 percent. Fuel imports decreased by 18.5 percent.
October-December 2023 – Exports of high-tech industries fell 6.8 percent, imports of goods (excluding ships, aircraft, diamonds and fuel) by 13.9 percent and imports of consumer goods by 18.5 percent in the 4th quarter.
A breakdown of industrial exports by technology intensity shows that exports of high-tech industries increased by 2.0 percent, exports of medium-high-tech industries decreased by 1.8 percent, and exports of medium-low-tech industries decreased by 9.1 percent. Low-tech industries will grow by 11.7 percent compared to 2022.
According to detailed data on imports for economic use, imports of fuels fell by 18.5 percent, imports of diamonds (green and polished) by 29.4 percent, imports of consumer goods by 1.8 percent and imports of raw materials (except diamonds and fuels) by 6.5 percent. Conversely, imports of capital goods (excluding ships and aircraft) increased by 8.0 percent.
