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Israel’s Trade Gap Narrows, Prices Hold After Devaluation

Israel’s trade gap has narrowed appreciably while prices, in the wake of the devaluation of the pound, rose by one half a percent in November, according to a report today by the Central Bureau of Statistics. The price rise on imported goods has been absorbed by some importers, the announcement said, and local merchants did not raise prices on imported goods in stock.

Israel’s trade gap for the period January to November, 1967 amounted to $201 million compared to a $314 million excess of imports over exports in the same period last year. In 1967, exports increased by $30 million and imports declined by $83 million as a result of the Government’s “go slow” economic policy, the bureau’s announcement said.