Palestinian goods trade deficit widens 17% in August

The Palestinian trade deficit in registered goods rose 17 per cent in August from a year earlier, to $559.6 million, the Palestinian Central Bureau of Statistics said.

Imports of goods increased 19 per cent to $776.6 million, with 62 per cent coming from Israel. Exports to Israel grew 29 per cent and accounted for 96 per cent of all exports, while exports to other countries fell 46 per cent.

The figures underline how heavily the Palestinian economy depends on trade with Israel, at a time when the Palestinian Authority says Israel is withholding about $7 billion in clearance revenues it collects on its behalf.