Palestinian foreign trade increases
The Palestinian Central Bureau of Statistics (PCBS) announced the preliminary results of the Palestinian Foreign Trade in Goods – 2007. The total of Palestinian imports of goods amounted to US$ 3,020 Million in direct imports; 74% of imports were from Israel and 26% were from all countries excluding Israel.
Imports increased by 9% compared with 2006. The main results indicate a 19% increased in imports of petroleum products and electric power compared with 2006, the increase in chemical products and medicines was 15%. The results indicate that there was a decrease in the machinery and transport equipment by 9% compared with 2006.
Regarding country groups, the results indicate an increase of 36% from Arab Countries and 17% from American Countries compared with 2006, and a decrease of 2% from European Union countries and 4% from Asian Countries compared with the same year.
The total value of Palestinian exports of goods amounted to US$ 392 Million. Exports increased by 7% in 2007 compared with 2006, the results show an increase in the manufactured goods classified chiefly by material by 19% and a decrease in food and live animals by 10% compared with 2006.
Regarding country groups, the results show an increase of 78%, 42% in exports to the European Countries and American Countries respictively and a decrease of 10% to the Arab Asian Countries compared with 2006.
The trade transaction on goods amounted to US $3,412 Million, with an increase of 9% compared with 2006, while the trade balance deficit on goods amounted to US$ 2,629 with an increase by 10% compared with 2006. This increase was a result of the increase in imports over exports in 2007.