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Previous Press Release on Foreign Trade Price Indices appeared on December 21, 2016
Jerusalem,
March 20, 2017
080/2017
Foreign Trade Price Indices -Goods- 2016
0.5% deterioration in the terms of trade index[1] (excluding ships, aircraft, fuels and diamonds).
Tables
The import price indices[2] (excluding ships, aircraft, fuels and diamonds), decreased by 2.1% in 2016, continuing a decrease of 8.1% in 2015.
The export price indices (excluding ships, aircraft and diamonds), decreased by 2.6% in 2016, continuing a decrease of 5.6% in 2015.
As a result of a higher decrease in the export price indices compared to import price indices there was a deterioration of 0.5% in 2016 terms of trade index (excluding ships, aircraft, fuels and diamonds), after an improvement of 2.6% in 2015.
Import Price Indices
Import price indices decreased by 4.2% in 2016, It should be noted that is the fifth consecutive year in which there were price reductions.
Detailed data by import destinations show that in 2016 price import indices of fuels fell by 17.1%, import price index of diamonds decreased by 4.9%, import price index of raw materials (excl. diamonds and fuels) decreased by 3.8%, import price index of consumer goods decreased by 0.4%. However, import price index of investment goods (excluding ships and aircraft) increased by 0.5%.
Import price index of raw materials (excl. diamonds and fuels) fall by 3.8% in 2016, continuing a decrease of 9.8% in 2015. Detailed data indicate that import price index of iron and steel decreased by 9.1%, import price index of nom-ferrous metals decreased by 8.9%, import price index of rubber and plastics decreased by 7.3% and import price index for agriculture inputs decreased by 6.5%.
Import price index of consumer goods decreased by 0.4% in 2016, continuing a decrease of 5.5% in 2015.
Import price index of non-durable goods (food, beverages and medicines, clothing and footwear and house-hold utensils) decreased by 1.2% in 2016, continuing a decrease of 6.2% in 2015. Most of the decrease was recorded in import price index of house-hold utensils (-2.5%) and in price indices of imports of clothing and footwear (-1.0%).
Import price index of durable goods (furniture and electrical equipment and transport equipment) increased by 0.7% in 2016, after a decrease of 4.6% in 2015. Most of the increase was recorded in import price index of transport equipment (4.4%).
Import price index of investment goods (excluding ships and aircraft) increased by 0.5% in 2016, after a decrease of 6.6% in 2015. Detailed data indicate that import of transport equipment increased by 3.4%, after a decrease of 7.6% in 2015. However, Machinery and equipment price index (66% of investment imports), decreased by 0.8%, continuing a decrease of 6.1% in 2015.
Import price index of fuels decreased by 17.1% in 2016, It should be noted that is the fifth consecutive year in which there were price reductions.
Import price index of diamonds decreased by 4.9% in 2016, continuing a decrease of 7.7% in 2015.
Export Prices Indices
Export price index of goods decreased by 2.5% in 2016, continuing a decrease of 4.9% in 2015.
Export price index of manufacture mining & quarrying (excl. working diamonds) decreased by 2.6% in 2016, continuing a decrease of 5.8% in 2015.
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Export price index of mining and quarrying decreased by 8.0% in 2016.
Export price index of manufacture (excluding mining & quarrying and working diamonds) decreased by 2.6% in 2016, continuing a decrease of 5.8% in 2015.
Breakdown of Price Indices of Manufacture Exports, by Technological Intensity
Export price index of manufacture in high technology industries increased by 0.5% in 2016, continuing an increase of 1.1% in 2015. Detailed data by industries point to a rise in price index of manufacture of computer, electronic and optical products exports (1.0%) and in price index of manufacture of air and spacecraft and related machinery exports (0.6%). However, price index of manufacture pharmaceutical products export decreased by 0.9%. High technology industries constitute about 50% of total manufacture exports (excl. diamonds).
Export price index of manufacture in medium-high technology industries decreased by 6.5% in 2016, It should be noted that is the fourth consecutive year in which there were price reductions. Detailed data by industries, point to a decrease in price index of manufacture of chemical and chemical products export (-10.8%) and in price index of manufacture of motor vehicles, trailers and semi-trailers export (-3.2%). Medium-high technology industries constitute about 31% of total manufacture exports (excl. diamonds).
Export price index of manufacture in medium-low technology industries decreased by 4.6% in 2016, It should be noted that is the fifth consecutive year in which there were price reductions. Detailed data by industries point to a decrease in price index of refined petroleum products exports (-11.8%), price index manufacture of basic metal products export (-9.0) and in price index of manufacture of rubber and plastic products exports (-3.8%). Medium-low technology industries constitute about 12% of total manufacture exports (excl. diamonds).
Export price index of manufacture in low technology industries decreased by 2.8% in 2016, It should be noted that is the fourth consecutive year in which there were price reductions. Detailed data by industries, point to a decrease in price index manufacture of furniture exports (-7.7%) and in price index manufacture of textiles exports (-4.7%). Low-technology industries constitute about 7% of total manufacture exports (excl. diamonds).
Export price index of working of diamonds decreased by 1.4% in 2016, continuing a decrease of 2.2% in 2015.
Price indices of agricultural, forestry and fishing exports decreased by 4.0% in 2016, continuing a decrease of 5.1% in 2015. Export price index of growing of perennial crops decreased by 7.6% and export price index of growing of non-perennial crops decreased by 3.3% in 2016.
Changes in the foreign trade prices (goods) by country groups in 2015
Import price index of goods, as stated, decreased by 4.1% in 2016. Detail according to country groups shows that import price index from Asian countries decreased by 5.3% in 2016, continuing a decrease of 5.3% in 2015. However, Import price index from USA increased by 13.3% in 2016, after a decrease of 3.0% in 2015. Import price index from EU countries remained unchanged in 2016.
Export price index, as stated, decreased by 2.6% in 2016. Detail according to country groups shows that export price index to EU countries decreased by 3.4% in 2016, continuing a decrease of 13.1% in 2015. Export price index to Asian countries decreased by 0.4% in 2016. However, export price index to USA increased by 1.2% in 2016.
Changes in the foreign trade price indices (goods) in the fourth quarter of 2016
The following findings relate to the development of price indices in the last quarter of 2016.
The import price indices (excluding ships, aircraft, fuels and diamonds), decreased by 1.0% in the last quarter of 2016, after an increase of 0.2% in third quarter of 2016.
Detailed data by import destinations groups show that in the last quarter of 2016 import price indices dropped in most import destination groups. Price import indices of investment goods decreased by 1.4%, import price index of diamonds decreased by 1.1%, import price index of raw materials (excl. diamonds and fuels) decreased by 1.0% and import price index of consumer goods decreased by 0.5%. However, price indices of fuels increased by 6.8%
The price indices of export of goods (excluding ships, aircraft and diamonds), decreased by 0.2% in the last quarter of 2016.
Detailed data according to technological intensity point to a drop of 2.5% in export price indices of manufacture in low technology industries and a decrease of 0.6% in export price indices of manufacture of high technology industries. However, an increase of 0.5% in export price indices of manufacture in medium-low technology industries. Price indices of medium-high technology industries remained unchanged.
Export price indices of working of diamonds increased by 0.6% in the last quarter of 2016 and export price indices of wholesale of diamonds increased by 1.6% in the last quarter of 2016.
Export price indices of agricultural, forestry and fishing increased by 1.7% in the last quarter of 2016. This increase reflects an increase in export price index of growing of non-perennial crops
(7.2%).
Detailed data by import country groups (excluding ships, aircraft and diamonds) show that in the last quarter of 2016 import price index from USA decreased by 1.7%. However, import price index from EU countries increased by 0.2% and import price index from Asian countries remained unchanged.
Detailed data by export country groups (excluding ships, aircraft and diamonds) show that in the last quarter of 2016 export price index to Asian countries decreased by 1.7% and export price index to EU countries decreased by 1.3%. However, export price index to USA increased by 2.1% in the last quarter of 2016.
Next Media Release on Israel's Foreign Trade Indices will appear on June 25, 2017.
Related links and publications Definitions and Explanations
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Foreign Trade Price Indices in 2016 Publication date 20/03/2017
[1] The terms of trade indices are calculated as the ratio of the total export price indices to the total import price indices.
[2] It should be noted that the foreign trade price indices are calculated in U.S. dollars, so they are also affected by changes in the value of the dollar against other currencies in which transactions of imports and exports of goods are conducted.
Imports are valued c.i.f., and exports are valued f.o.b.
This information was provided by the Central Bureau of Statistics, based on preliminary data on goods that passed through Customs. Data do not include trade and defense imports between Israel and the Palestinian Authority. Also, data do not include exports and imports indices of services including exports of software services.