External Trade in Goods Slowed Down in January and February 2015

 Preliminary data published by the PCBS show that both exports ($65.1 million) and imports of goods ($377.8 million) declined in the first month of 2015 in comparison with December 2014: by 18.9% and 9.2% respectively. There was a drop from January 2014 as well: by 5.2% and 9.9% in that order. Because the absolute value of the decline in imports exceeded that in exports, the constant trade deficit decreased by 6.9% compared to December 2014 and by 10.8% compared to January 2014. As expected, Israel remained the main trade partner, providing 87.0% of all Palestinian exports of goods and 56.3% of all imports.

Although in February exports increased by 4.5% compared with January, they declined by 2.1% from February 2014 to $68.0 million. Meanwhile, imports fell down in comparison with both the previous month and the corresponding month of 2014: by 8.5% and 15.5% respectively, reaching $345.8 million. Once again there was a drop in the trade deficit ($277.8 million): by 11.2% from January 2015 and by 18.4% from February 2014. As much as 87.6% of Palestinian goods exports went to Israel, while 61.8% of all imports came from there.

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