Israeli exports down 11 pct in Jan.-Aug. 2020

Israeli exports fell 11 percent in the first eight months of 2020, according to a report issued on Sunday by the state’s Central Bureau of Statistics.

It showed Israeli exports have totaled 31.5 billion U.S. dollars since the beginning of 2020, compared with 35.4 billion dollars in January-August 2019.

In addition, exports of the Israeli hi-tech industry have fallen by 5.45 percent this year, totaling 10.4 billion dollars, lower than 11 billion dollars a year ago .

Also, Israeli pharmaceutical exports shrank by 47.8 percent year on year from 2.3 billion dollars in the first eight months of 2019.

According to the report, Israeli imports also decreased, from 51.2 billion in January-August 2019 to 44.8 billion dollars this year, down by 12.5 percent.

As a result, Israel’s trade deficit decreased by 15.8 percent from 15.8 billion dollars to 13.3 billion dollars.