Strong export growth is shekel supportive

ISRAEL - In Brief 13 Nov 2024 by Jonathan Katz
Exports surged in recent months. In August-October, industrial exports increased by 15% q/q, with strong growth in sectors identified as mostly defense: Metal products/machinery and transport equipment, but in pharma and chemical products as well. But generally, high-tech exports were up 14%. Imports of consumer goods were up a moderate 2.4%, raw materials by 5.7% and investment goods by 3.0%. Growth in imports are positive growth indicators. Stronger export growth compared to import growth reduced the trade deficit by 14% over this timeframe (3m/3m), a positive development for the shekel.

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