Both Exports and Imports Increased in September in Comparison with August
In September Palestinian exports and imports of goods increased by 7.2% and 4.0% compared to August to $75.7 million and $423.1 million respectively. These figures also mean a decrease in exports of 6.3% from September 2013 and an increase in imports of 7.0% from the same month. The trade deficit (the difference between exports and imports) increased by 3.2% in comparison with the previous month because the absolute increase in imports exceeded the absolute increase in exports. The deficit remained negative at $347.4 million. The fact that exports to Israel accounted for 89.6% of total Palestinian exports and imports to Israel amounted to 66.5% of total imports once again highlights the high dependence of the Palestinian economy on the Israeli one.
The figure below shows trends in Palestinian trade in goods in the past four years.
Figure: Palestinian Exports, Imports, and Trade Balance of Goods, 01/2011-09/2014 (in $ millions)
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