Israel’s balance of trade–the difference between the value of exports and the value of imports–continues to be substantial on the side of imports, according to a UN survey on “Economic Developments in the Middle East 1957-1958.” However, a slight narrowing of the gap took place in 1958, the survey reveals.
“By 1957, the gap had widened to $296, 000, 000, an increase of $36, 000, 000 as compared with 1956. In 1958, imports went down slightly to $432, 000, 000 and exports rose to $146, 000, 000–narrowing the gap by $10, 000, 000, ” the UN report said.
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